In the latest Startap Skener 2025 report by Digitalna Srbija, the sheen of Serbia’s once-promising startup ecosystem appears to be fading.
Data collected throughout 2024 reveals a 20% drop in active startups and a troubling shift in focus — from global ambition to regional containment.
Nearly half of surveyed startups report zero recurring revenue, while only a fraction (5.1%) show strong growth, expansion, and funding success.
The stagnation is particularly pronounced among ventures older than three years that remain tethered to local markets.
The report points to an overreliance on early-stage grants as a key stumbling block — offering safety without the pressure to scale.
Meanwhile, startups geared toward global audiences continue to outpace their peers in attracting investment.
Despite the downturn, there are glimmers of hope. AI dominates the tech focus (41%), and founders are increasingly experienced, educated, and returning from abroad.
But as Digitalna Srbija’s Tanja Kuzman warns, the ecosystem must urgently nurture global ambition or risk irrelevance.
