EU4Digital Facility has published a study report that maps and diagnoses the start-up ecosystem in the Eastern Partnership (EaP).
Produced by the EU4Digital ICT Innovation stream, the report defines the concept of high-performing incubation, presents analysis of the current situation, and provides recommendations for the development of associated support programmes in the partner countries – Armenia, Azerbaijan, Georgia, Republic of Moldova and Ukraine.
The start-up ecosystem in Eastern partner countries has been developing in recent years, but is still in early stages compared with more mature ecosystems in other countries, the study found.
The main results are as follows:
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54% increase in growth rate in number of new start-ups thriving within EaP incubators between 2021-2023;
70% lower conversion rate of EaP start-ups compared to those in Central and Eastern Europe;
8.6% of incubated EaP start-ups reached seed stage and generated
sustainable revenue (compared to 12.5% in selected Central and Eastern European countries).
To boost the performance and growth of the innovation and start-up incubation ecosystem in the Eastern Partnership (EaP) region, the EU4Digital report includes several recommendations.
EU4Digital proposes to combine the report’s recommendations into a comprehensive regional programme with a focus on incubator development for maximum impact.
“Since the Eastern partner countries share similar gaps and requirements, a coordinated effort would ensure a more efficient distribution of resources and facilitate the exchange of best practices,” says a press release by EU4Digital. “Such a programme could be supported by both public and private sector stakeholders, who could work together to create and support a vibrant regional start-up ecosystem.”
