16th June 2017

Apen Institute CE: Visegrad Startup Report 2016/2017: "What makes the Visegrad region stand out is the number of STEM graduates."

Visegrad Startup Report provides complex analysis of the Visegrad startup ecosystem based on a series of national startup studies (Polish, Slovak, Czech and Hungarian). The authors of Visegrad Startup Report have seized the opportunity created by the lack of a documents which could serve as a reference tool to companies and politicians attentively looking at the rapidly expanding Visegrad (V4) startup ecosystem.

Tech startups thrive where the founders can quickly access big markets, human capital, and venture financing, so that they can fully profit from investments in disruptive technologies and scalable business models. Does the Visegrad Group have the potential to satisfy these basic needs of tech entrepreneurs and foster the regional startup ecosystem?

 

Main findings

1. The Visegrad group represents approximately one tenth of the EU economy, with the average living standard per capita exceeding 70% of EU standard.

2. The level of V4 access to broadband internet is exactly comparable to the EU average and remains high both for households and entrepreneurs.

3. Poland leads in the latest Doing Business report, Czech Republic – in Global Innovation Index.

4. While most Visegrad startups’ sales model is B2B, Czech startups sell eagerly to public sector institutions (B2G) and Slovak to individuals (B2C).

5. Startups surveyed in Hungary and Poland have the biggest confidence in raising funds with local and foreign venture capital funds.

6. Among surveyed V4 startups crowdfunding is most popular in Slovakia.

7. Czech surveyed startups are most active in patenting innovation.

8. Startups surveyed in Czech Republic and Slovakia are most export-oriented in V4.

9. Poland has at least four main startup hubs (Kraków, Poznań, Wrocław, Tri-City), while other Visegrad countries’ ecosystems are primarily located in capital cities (Bratislava, Budapest, Prague).

10. Czech startups report the highest levels of R&D expenditure within the V4 group.

Read the report.

Members of the American Chamber of Commerce in the Czech Republic