Serbian Monitor

EMPTY POCKETS OF SERBIAN START-UPS DESPITE BIG AMBITIONS
For every three startups in Serbia last year, one generated no revenue at all, while another recorded annual revenues of up to €50,000. Startups with revenues exceeding €1 million are practically at the level of a statistical margin of error, according to a new report.

Two key trends currently visible in this segment of the economy appear to be misaligned. First, the set of structural conditions has largely remained unchanged, and in some cases has even worsened, explains Tanja Kuzman, Director of the Digital Serbia Initiative.

“Most of the ecosystem continues to operate below significant monthly revenue thresholds, while the percentage of startups older than three years that remain under €1 million in annual revenue has sharply increased. A large number of founders continue to treat their startups as a secondary professional commitment. Employment outcomes have fallen short of stated plans in each of the past three consecutive years,” she noted in their sixth annual Startup Scanner report.
[Link to the full article in the first comment]