Slovakia lacks startup unicorns: We are significantly behind the global top
Currently, Slovakia lags significantly behind the global leader and its European neighbors, not only from the point of view of digitization, but also in terms of startup culture.
Slovakia does not yet have a single so-called startup unicorn, i.e. a start-up company whose value is 1 billion USD. Posted by Enehano Solutions.
According to Enehano, the problem of Slovak start-up companies is that you do not fully use all available digital tools, including CRM (Customer Relationship Management). This business software, used in Slovakia by only more than 20% of large companies and even for smaller companies, is often largely unknown, although it can help them.
While companies in the world are progressing at rocket speed thanks to digitization and the number of startup “unicorns” is increasing, in Slovakia, according to Enehano, they have not yet “gone up”. The appetite and willingness of foreign investors to invest money in start-up companies – unlike in the Czech Republic or Ukraine – is still not forthcoming. Although there are more than 1,000 promising and dynamic growing companies in the world today, whose donation value is a billion dollars, they are still just wishful thinking for the Slovak scene.
However, the problem is not exclusively financial and personnel limits or the fear of a risky but potentially profitable business. According to Enehano, frequent obstacles slowing down the growth of start-up companies are not only improperly set processes, but also ignorance of the possibilities of today’s modern technologies, especially in the field of marketing, sales and customer care.
“Today, the Cloud is of particular interest to startups, which allows them to greatly transform the idea of practical use. However, the sale of a product or service is a big quick support. In addition to limited financing options, Slovak startups in general often have a problem with establishing themselves on the market,” says Eduard Gers, digitization expert at Enehano.