Commentary
Economy & Tech
Value-Based Realism: Crafting Economic Security in a Fragmented Europe – COMMENTARY
1 October 2024
7 March 2024
Venture investment fell in Eastern Europe in 2023, in what was a difficult year for tech start-ups worldwide. However, the region is on track to rebound strongly on the back of expanding ventures in AI and other innovative fields in the green and digital transition. Poland, Greece, Lithuania, Czechia, Estonia and Romania were the top-performing countries.
The “Venture in Eastern Europe Report” was produced by How to Web, a Romania-based tech connectivity platform focusing on CEE, and examined the performance of all 19 Eastern European countries that completed venture deals in 2023.
The report notes that the volume of venture deals dropped by half worldwide in comparison to 2022. Accordingly, Eastern Europe saw a 57% drop in investment volume from €4.3 billion to €1.9 billion.
A look at the bigger picture, however, suggests that 2023 corrected an overinflated market. Eastern Europe’s investment volume in 2023 was still 18% higher than in 2020. There were also signs that Eastern Europe’s startup ecosystem is “maturing…with a shifting focus towards sustainable business models and profitability”, the report says.