Over EUR 143 million invested in Serbian startups

Local startups attracted EUR 143 million in investment, according to the research for the annual report by Startup Genome, which analyzes startups from all over the world. Experts, however, believe that the amount is much bigger.

It has been estimated that there are around 200 startups in Serbia, and the survey included only those technological businesses that have existed for under 10 years and that have a stable business model.

Belgrade has already been recognized by foreign media as “the future startup center of Europe”, which the research has confirmed. As many as 22% of the surveyed startups have been formed in the past year, whereas 50% are over two years old, Blic reports.

They mostly deal in gaming, Big Data and analytics, as well as smart cities. More than three quarters of them already have their own products, which they sell primarily in America (37%) and Europe (26%).

The Startup Genome data are used for comparative analysis and to point out the strengths and weaknesses of the existing startup ecosystems. An ecosystem's results are broken down into factors such as experience, finance, connectedness and others which can be directly influenced. It provides very important information to all those with an interest in the development of a certain ecosystem.

All this is meant to support advanced cities to accelerate the development of their startup scenes.