Startups from V4 countries are making a bigger impact in the innovation scene, not only within their region but also extending their influence beyond national borders. Your startup could also be the next one to enter foreign markets all thanks to the V4 Startup Force program.
According to a report by Vestbee, in the third quarter of 2023, 255 investment rounds totaling €560 million took place in the CEE region. Dealroom reports that venture capital investment in Central and Eastern Europe has doubled since 2020, surpassing records in venture capital investment and reaching €6.2 billion. In Q3 2023, Poland accounted for 95 investment rounds, and the Czech Republic for 24. In terms of investment numbers, Poland leads the region, followed by the Czech Republic, Hungary, and Slovakia.
These facts highlight a stable volume of investments, with public funds playing a significant role in shaping the entrepreneurial environment of the region. The top three sectors in terms of funding and growth for V4 startups are fintech, e-commerce and healthtech. Additionally, there is growing interest in other sectors such as logistics, tourism and deeptech.
Are you still considering whether your project is ready to move forward and explore the possibilities of expanding into V4 countries? Read the stories of people who dared to take such a step and successfully entered new markets, and be inspired by their success.
Successes of V4 Startups
A report from Startup Hungary indicates that the Hungarian startup ecosystem experienced several unprecedented successes in 2022. Local startups raised over €180 million, a 60% increase compared to the previous year.
Budapest is home to many successful companies that have experienced exits. LogMeIn (acquired by Francisco Partners and Evergreen), Tresorit (acquired by Swiss Post), and Ustream (acquired by IBM) are just a few examples. However, there are many other rising startups in Hungary. One of them is Munch, a company that began its entrepreneurial journey in the V4 Startup Force program of Design Terminal. The company’s mission is to reduce food waste and is gradually gaining popularity in Slovakia, the Czech Republic, and Romania.
Slovak startup YourLOX is also a participant in the V4 Startup Force program. Its founder, Patrik Dolinský, provided us with an interview about the benefits of participating in the program. He sees the opportunity for business meetings with potential customers from V4 countries and objective feedback on their solution from fellow program participants, mentors, and investors as the greatest benefits. You can read the entire interview HERE. YourLOX creates a network of smart lockers – LOXes, allowing residents to rent sports equipment directly at public playgrounds through an app.
With the increasing talent pool, supportive government initiatives, and growing emphasis on innovation, the countries of the V4 region are ideally positioned to foster even more startups that will grow and become global players.
Become the next #successstory with V4 Startup Force
Since 2018, the organizers of the initiative have continuously improved the program to help entrepreneurs in Hungary, the Czech Republic, Slovakia, and Poland accelerate their growth as effectively as possible.
The V4 Startup Force program takes place twice a year and not only provides training and business networking opportunities but also encourages participants to acquire the skills necessary for international expansion.
“We are excited to be part of this program for the sixth year in a row. It is always inspiring to see so many enthusiastic entrepreneurs and their startup ideas. Founders are always eager to learn and seek ways to improve, and that’s exactly what we look for,” emphasized Viktor Štefaňák, Head of Partnerships at Campus.
❗Applications for the spring program of V4 Startup Force are open until April 2nd, 2024. ❗
The top five startups from each country will have the opportunity to participate in a three-day intensive training course led by business, sales, and legal experts. The best startups will continue through the V4 Startup Force program on their journey to becoming unicorns.
Experiences of last year’s program participants
The program is supported by the International Visegrad Fund. It is led by the Hungarian Design Terminal and implemented in collaboration with Campus Cowork, Startup Hub Poland, and DEX Innovation Centre.
