Czech Startup Scene on the Rise

There is a global trend in encouraging people to START their own business and to be eager to climb UP the ladder of success. It’s happening in New York, London, Tokyo, Tel Aviv but Prague and Brno are a new promising startup paradise. Companies such as Avast, AVG, Skypicker (now Kiwi) are now the sounding brands with roots in the Czech Republic. Every day, there are startups registering their brands and patenting their know-how. Every day, there are dozens of open job vacancies in the startup field. Every day, there are thousands of great business ideas turning into reality. That all can be found in a country of 11-million population with a new catchy name, Czechia.

As for financing, since 2016 there is the newly approved National Innovation Fund promising 53 million Euros that will be pumped into innovative ideas. Jan Dejl, Deputy Director in the Department of Strategic Companies and Investment Incentives under Ministry of Finance has informed that the promised financial injection from the Czech government and the EU should concern not only seed funding but the entire infrastructure of investment for small-and-middle enterprises. There is already an official well-working network of promotion and support for startups such as czechstratups.org and CzechInvest. Citizens of Prague and Brno are well-aware about the startup potential since many happenings in the cities are directly linked to their startup culture. In March,  World Cup 2017 took place in Prague and their winners are about to travel to Silicon Valley. In October, The Startup Summit 2017  is held in Prague, as well. Such events are only a sample of public-exciting and business-thriving parts of the Czech startup culture. They are intended to establish a dialogue and to build a rapport among citizens, businesses, corporations, and startups in order to bring a prosperous future closer.

Startup Business Culture

In Czechia, most startups are devoted to IT and financing. Nevertheless, it is no rule; you can find a startup in almost any field you like. Startup offices are packed with knowledge-sharing, good vibes, flexibility, casual atmosphere, and atypical benefits such as team-buildings abroad, Xboxes in office, table tennis, Friday beers, and small gyms. Many of them are striving to expand their business globally and are more than welcoming to international colleagues who could share a new approach, language skills, or bring a multicultural breeze to a company.

To give you a hint of what innovative ideas are growing in Czechia, just check ARTSTAQ that is turning the art market upside down, Mooveez which teaches you English by watching movies, or Neuron Soundware which uses sound and probabilistic method to detect a mechanical issue.

Written by Zuzana Pápayová

Title picture: StartupDepot

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