STARTUP ECOSYSTEM
Czechia Startup density
Czechia’s thriving startup ecosystem: an overview
Czechia has emerged as a dynamic hub for startups in Eastern Europe, combining strategic location, a highly educated workforce, and increasing access to funding. With steady growth and recognition on global and regional stages, its ecosystem is attracting both talent and investment, making it a rising star in the global startup scene.
Global and regional rankings: a competitive player
In the 2024 Global Startup Ecosystem Ranking by StartupBlink, Czechia secured the 32nd position globally, highlighting its growing influence in the tech and innovation sectors. Regionally, it ranks as the 3rd strongest ecosystem in Eastern Europe, showcasing its ability to stand out in a competitive landscape. This ranking reflects the country’s supportive infrastructure, expanding investment opportunities, and government initiatives to foster entrepreneurship. In fact, the relatively low cost of living in Czechia compared to other European countries, along with low tax rates and a central location in Europe, are major contributors to its potential growth and status as an attractive location for foreign entrepreneurs.
Startup density and ecosystem valuation
According to the Overview of startups in the Czech Republic by Tracxn, as of November 2024, the startup ecosystem in the Czech Republic is vibrant, with over 9,340 companies operating across various sectors, including IT, cybersecurity, and e-commerce.
This thriving ecosystem has been marked by a significant influx of investments, totaling $7.38 billion in funding. The Czech startup landscape is home to notable unicorns like Avast and Kiwi, with other prominent companies such as Rohlik Group and Gamee contributing to the region’s innovation-driven economy.
In 2024, there was a remarkable 130% increase in funding compared to the previous year, highlighting the growing investor confidence. Startups headquartered or with offices in the Czech Republic, such as FaceUp, E2B, and Zaitra, are attracting significant attention, raising millions in seed rounds.
The Czech Republic’s entrepreneurial spirit is further demonstrated by the number of acquisitions, with 28 companies being acquired in 2024 alone, underscoring the dynamic and evolving nature of the ecosystem. Overall, the Czech Republic’s startup sector continues to grow rapidly, positioning itself as a key player in the European innovation landscape.
Driving factors behind the ecosystem’s growth
The success of Czechia’s startup ecosystem is fueled by several factors:
- Skilled talent pool: with a strong emphasis on STEM education, Czech universities produce a steady stream of tech-savvy graduates who fuel innovation and technical development.
- Strategic location: positioned in the heart of Europe, Czechia serves as a bridge between Eastern and Western European markets, giving startups access to a diverse customer base.
- Government support and incubators: initiatives like CzechInvest and collaborative spaces such as Prague Startup Centre provide critical resources, from funding to mentorship, for budding entrepreneurs.
Learn more about Czechia’s startup ecosystem
Bulgaria Startup density
Bulgaria has become an increasingly attractive destination for startups and entrepreneurs, ranking 37th globally and 6th in Eastern Europe for its startup ecosystem, according to StartupBlink. This upward trajectory in fostering innovation, particularly in sectors like software, artificial intelligence (AI), and e-commerce, has positioned Bulgaria as a key player in the region. The country’s dynamic entrepreneurial environment is reflected in the growing number of active startups and continued investment activity.
