We are proud to announce the publication of our latest research paper, developed in collaboration with one of the leading VC firms in Bulgaria – Eleven Ventures. This report offers an in-depth analysis of the Startup and Venture Capital ecosystem of Central and Eastern Europe (CEE), a region that has emerged as a powerful innovation hub over the past decade.

Drawing on extensive data and Eleven’s strategic insights, the paper highlights how CEE has become a rising innovation hub, home to over 26,000 startups, 52 unicorns, and €213 billion in enterprise value.

In this study, we examine how public and private capital are shaping growth trajectories, how key sectors like AI and Climate Tech are attracting global attention, and how cities such as Warsaw, Tallinn, and Sofia are becoming major entrepreneurial hubs. The paper also contains deep dives into the Polish and Czech ecosystems, as well as seven case studies of the most notable VC deals that have recently closed in the region.

Read the full research paper below!