Development depends on the economy's saturation with entrepreneurs who are motivated by the desire to creative new things, and not just to make a living for themselves. That is why the expansion of start-ups is so important.
Economists from the Warsaw School of Economics warn that the economic recovery after the last recession in the Central and Southeast Europe (CSE) had already lasted 20 quarters, and that the important leading indicators had gone down.
In 2017, a record amount of USD3.5bn was invested in Central and Southeast Europe (CSE) by private equity and venture capital funds. 71 per cent of this amount was spent in Poland, which is the regional leader.
Some 59 per cent of Polish start-ups are financed exclusively from own funds, 83 per cent operate on the B2B model, these were the results published in the latest Start-up Poland Foundation report published during the 28th Economic Forum in Krynica.
Crowdfunding has an exponential growth in the Adriatic region. In the last five years, startups, companies, associations, and individuals organised more than 2200 group financing campaigns, with some USD9m collected money.
The Venture Capital market in Poland is the strongest in Central and Southeast Europe with over 50 active VCs and thousands of angel investors. It attracts founders of similar culture from countries from the former Soviet Bloc that cannot raise funding on their local markets.