Number of startups in Serbia up by over 20 pct in 2022

BELGRADE - The number of startups operating in Serbia was up by over 20 pct in 2022, and they employed over 2,000 people in total, according to Startup Scanner 2023, an annual report released by the Digital Serbia initiative.

The report, based on a survey of 167 startups, said Serbian startups were expected to employ 3,000 more people in 2023 and that nearly two thirds of the firms expected their businesses to grow by over 50 pct this year.

Despite a 20-30 pct y-o-y growth of the startup ecosystem in the past three years, Serbian startups still face a number of challenges, the three biggest ones being funding, employment and finding customers, says the report.