Serbia has been ranked on the Startup Genome list of global startup ecosystems for the first time this year, the Digital Serbia Initiative reported yesterday.
Two Serbian cities – Belgrade and Novi Sad – have been classed as a single ecosystem and the only one from the region that was included in the list – a press release said adding that the report classed the Serbian startup ecosystem as one of the top 10 in the world.
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The Startup Genome report said for the startup ecosystem in Serbia that it was accessible with quality engineers and programmers who rank among the top five in the world and that video games and blockchain were its strongest sectors.
Startup Genome is a US-based organization which has been analyzing startup ecosystems across the world for 10 years. This year’s report analyzed 150 cities in total.
The Digitial Serbia Initiative said that the report also noted that the two Serbian cities had between 200 and 400 startups in an eco-system which is in the first stages of development.
„We launched the initiative to include Serbia in the report because we believe that startups need to be compared to others to see what chance they stand against the competition,” the Digital Serbia Initiative Programme Director, Zoja Kukic said.
Underdeveloped aspects of the Serbian startup ecosystem include low investments (12 times lower than the global average) and its overall value of $303 million (17 times lower than the global average). The Startup Genome also said that the Serbian authorities approved of tax deductions in the double amount of research and development costs and that there is a special regime for creating an intellectual property with a very favourable tax rate of only 3 per cent.
This post is also available in: Italiano