Serbia’s startup ecosystem has experienced consistent growth, but it still faces significant challenges that hinder its global success. While many innovative ideas emerge each year, only a few secure substantial investments and achieve global recognition. Experts highlight a lack of sales and marketing expertise, as well as limited financial resources, as key obstacles. Strengthening infrastructure, education, and investor support are essential for overcoming these challenges.
Filip Ilić, program manager at ICT Hub, notes that while Serbia’s startup ecosystem is the largest in the Western Balkans, it still lags behind countries like Croatia and Slovenia. To reach the level of more developed European ecosystems, Serbia must enhance business infrastructure and create better conditions for innovative companies.
Davor Sakač, founder of TS Ventures Fund, points out that Serbian startups often struggle with scaling, as the domestic market is too small for serious growth. Many founders focus on product development, neglecting strategic planning and global market understanding. He emphasizes the importance of sales, marketing, and market adaptation for success.
Some Serbian startups, such as EasyPass and WellPet.ai, have overcome these hurdles by participating in various domestic and international support programs. These programs provide valuable mentoring, investment, and global insights, helping founders refine their ideas and grow their businesses.
While Serbia’s startup ecosystem continues to develop, the key to success lies in acquiring sales skills, global ambitions, and a focus on business growth. Startups need to recognize that great products alone won’t guarantee success – they must also master the art of negotiation, sales, and market adaptation.
