Belgrade and Novi Sad have positioned Serbia in the top five world startup ecosystems

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Recently, the most famous organization that monitors the work and development of startups around the world – Startup Genome, at the suggestion of the Digital Initiative, in its famous annual report included Belgrade and Novi Sad at the very top of that report. Namely, Belgrade and Novi Sad have positioned our country in the top five world startup ecosystems.
That this success is worthy of praise is also shown by the fact that the domestic startup ecosystem is one of the 54 startup ecosystems that were the subject of analysis, as well as the only startup ecosystem that was analyzed in Central and Eastern Europe, it is stated on the website cvjeticaninlegal.com.
The annual report of Startup Genome shows the estimated value of the domestic startup ecosystem at an incredible 303 million dollars. However, it should be noted that during the mentioned assessment, startups without investments were not taken into account, as well as those registered outside the territory of Serbia, which further implies that many well-known Serbian startups did not enter this calculation.
According to the mentioned report, the number of startups in our ecosystem ranges from 200 to 400, which indicates that the domestic startup ecosystem is in the first development phase.
What set the domestic startup ecosystem apart from the others is, above all, the quality staff, that is, the talented workforce. Namely, the mentioned report states that startups in Serbia have access to affordable, highly qualified, talented engineers, who are ranked in the top five in the world.
In addition to the labor force, the domestic startup ecosystem is also attractive due to favorable tax treatment, ie low income tax and tax relief, which have a favorable effect on the further development of startups.
In the annual report of the Startup Genome, our startup ecosystem was rated the highest (ten) when it comes to the growth of investments in domestic startups, while the total growth in the number of startups was rated a shade lower (nine).
According to the report, the Belgrade-Novi Sad startup ecosystem is in the top five countries in the world in terms of the number of blockchain developers, as well as the large number of production-focused blockchain startups.
The two most valuable ICOs (Initial Coin Offering) in our country are GameCredits worth as much as 56 million dollars and OriginTrail worth 22 million dollars. In addition to the above, the report points to Blinking – which has developed a blockchain-based solution that allows its users to control their data, as well as MVP Workshop, which won the EY Innovative Entrepreneurs Of The Year 2018 award for outstanding business success and an exceptional and innovative impact on the Serbian entrepreneurial community.
In its annual report, the Startup Genome also pointed out the gaming community that exists in our country. The report states that the inevitable Nordeus, which produced the well-known football application – Top Eleven Football Manager, which has an incredible 180 million users, and realized revenues of over 75 million USD in 2018. In addition to Nordeus, the report also mentions 3Lateral, as the leading developer of digital animation and program content that Epic Games bought in 2019. Also, the mentioned report mentions the SGA Association (Serbian Games Association), which has established business cooperation with big names, such as Facebook and Unity.
However, in addition to the above, the annual report of the Startup Genome also pointed out some shortcomings that the domestic startup ecosystem is facing. They are reflected primarily in the problems with their financing and access to capital, but on the other hand also in the absence of communication and cooperation between the startups themselves, which make up the startup community of Serbia, eKapija reports.