2024年中欧和东欧初创企业报告（英）

March 2024Central and Eastern European startups20241Ecosystem Overview2VC Investment landscape3SectorsAndreas NemethManaging Partnerat Uniqa VenturesCo-authors:Martina VitezovaInvestment Managerat Uniqa VenturesSylwester JanikGeneral Partnerat Cogito Capital PartnersTable of contentsEwa ChronowskaCEOat VestbeeKonrad KoncerewiczHead Of Startups & VCat VestbeeLouis Geoffroy-TerrynResearch Leadat Dealroom.coAliaksei VinchoInnovation Analystat Dealroom.coNorbert KruszewskiPrincipalat Cogito Capital PartnersPage / 3 CEE Startups are worth a combined €213B.The combined enterprise value of startups in the CEE startup ecosystem has grown by x2.4 in the past 5 years, from €89B in 2019 to €213B in 2023. Startups and Scaleups backed by VCs have been growing the fastest, adding €21B in value in just five years.± 1,000 startups across 110+ cities raised a combined €2.1B in 2023.There are over 26K startups in the CEE region, 7K of which are currently VC backed. However, access to capital remains a challenge for many. 50% of VC investment in 2023 is concentrated in the regionʼs top 3 markets: Estonia, Lithuania and Poland.Funding into Climate Tech and AI are on the rise in CEE. Over the last 5 years, AI startups raised 15% of total CEE VC investment and Climate Tech raised approximately 20%.In Q1 2024, 45% of CEE VC investment volume went to AI startups, while 26% went to Climate tech startups.Combined Enterprise Value of CEE startupsTop hubs in CEE, 2023Percentage of total investment in CEE going to AI and Climate Tech startups€213B x2.4€89BClimate techAI Core startups2024 Q12019€234BKey Takeaways1 Ecosystem Overview2 VC Investment landscape3 SectorsPage / 5 Source: Dealroom.co | Bootstrapped & others: bootstrapped startups, excl. Unicorns, and startups with no disclosed VC-backing. Combined enterprise value of CEE startups2021-2024 growth▲+€2B▼- €46B▲+ €21B▲+€1B2024 Q1The CEE startup ecosystem is worth a combined €213B, up 2.4x since 2019.(all public and private Unicorns from CEE)VC-backed startupsBootstrapped & othersPage / 6 Source:Dealroom.coCEE startups are worth a combined €213B. The regionʼs 50+ unicorns concentrate 60% of the combined enterprise value. Startups from Poland, Ukraine, Estonia contribute 50% of the regionʼs combined enterprise value. Enterprise value in top 10 CEE countriesPage / 7 Source:Dealroom.co; *Among countries with EV above €1B.Croatia, Lithuania and Latvia have shown the highest relative growth in combined enterprise value in the past five years.*5-year growth, combined enterprise value in CEE.x2.4x2.3CEE average: x2.4European average: x2.1Page / 8 Source:Dealroom.co; *Among countries with EV above €1B.The value of the CEE startup ecosystem has grown 2.4x in just 5 years, bringing its share of Europeʼs innovation ecosystem to 5.7%. Combined enterprise value of European tech Geographical distribution, 2019 v 2024 (Q1)20192024CEENordicsDenmark, Norway, Iceland, Finland, SwedenSouthern EuropeItaly, Spain, Portugal, Greece, Mal