The promising startup landscape of Poland
Startup is a buzzword around the world and it has never been as easy as today to access worldwide market. At least in theory it’s easier than ever. There is only one condition: you must name your company, idea or team as startup.
According to the Polish Startup report 2016, there were almost 2,700 startups in Poland and the number is continuously growing. Warszawa, Kraków and Poznań are the top three cities that attract young masterminds with an entrepreneurial inclination. The range of products and services is wide but they all rely heavily on IT solutions.
The biggest issue in polish startup market is money. Mainly lack of it.
The environment is not the same in Poland as in US or UK but thanks to combination of entrepreneur spirit and usage of EU subventions, more startups are attracting local and international venture capitalist. According to the statistics, one third of Polish startups have increased their income by 50 percent during the first year of their presence on the market, whereas one in five has doubled it. A quarter of them predicts that in two years’ time their company will be worth 10 times more than at the beginning.
One of the most surprising facts about Polish startups is that, according to the 2016 research, more than half of them exports outside Poland. When compared with figures of traditional business ventures (only 7 percent of them sells their services outside Poland), startup statistics are very impressive. Three main targets of their activity are: the USA, the UK and Germany, all of which are known to be demanding markets that value good product quality and are very competitive.
There is definitely a buzz going on in Poland. Maybe the next big thing that changes your life will be originally from Poland.
Country Manager, Poland