Belgrade and Novi Sad in the World Startup Report


Report on the global startup ecosystem for 2023, conducted by Startup Genome and the Global Entrepreneurship Network, was presented today at The Next Web conference in Amsterdam. Based on data from 3.5 million startup companies in over 290 global ecosystems, the report provides new insights and findings on startup ecosystem trends worldwide, while experts, leaders, and local key players further contribute to the data's quality.

Within this year's report, the startup ecosystems of Belgrade and Novi Sad were measured, and here are some key findings:

From July 1, 2020, to December 31, 2022, Belgrade and Novi Sad created an ecosystem value of $1,116,736,155, representing a growth rate of 75.41% compared to the previous period. The ecosystem value is expressed through economic impact, calculated as the value of exits and startup valuations.

They were recognized among the top 20 European ecosystems for available talent, in the category that measures the ability to employ technological talents. Gaming, blockchain, as well as the medtech, biotech, and healthtech domain, stand out as the most prominent sectors due to the number of talents, resources, startup support, and activities.

The availability of technological talents, tax incentives, and international connectivity are cited as reasons for startups to consider relocating their operations to Belgrade and Novi Sad.

The total exit value from 2018 to 2022 amounts to $647 million.

Serbia has more than 45,000 highly qualified technology professionals.

Through targeted investments, strategic partnerships, and policies that promote innovation and entrepreneurship, we are working to create an environment where Serbian startups can thrive. With our focus on fostering the blockchain ecosystem, AI, and other emerging technologies, we are confident that Serbia will become a driving force in the global innovation landscape.

These findings confirm the commitment of the Ministry of Science, Technological Development and Innovation of the Republic of Serbia, and the Digital Serbia Initiative, in creating an environment that fosters innovation and entrepreneurship. The focus on developing the blockchain ecosystem, artificial intelligence, and other emerging technologies makes Serbia competitive in the global innovation scene.

This study provides valuable guidance for further developing the startup ecosystem in Belgrade and Novi Sad, as they continue to position themselves as significant players in the global innovation race