Serbian Startups Create 6,000 Jobs with a Valuation of €1 Billion
The innovative business sector in Serbia continues to thrive, with a growing number of startups making significant contributions to the economy.
In the past decade, Serbia has experienced a remarkable expansion of innovative businesses, witnessing the number of startups quadruple.
Currently, there are approximately 800 startups in the country, with a continuous upward trajectory.
Some analyses suggest that the growth rate of startups is around 30% annually, potentially bringing the total past 1,000 by the year's end.
It is estimated that about 6,000 individuals are employed within this sector, which is valued at approximately $1.1 billion.
At the recent Kopaonik Business Forum, a discussion focused on new startup ideas, including an initiative established during the previous forum aimed at connecting startups with larger corporations.
This connection is seen as vital due to the potential for startups to assist large firms in enhancing their product offerings.
Branislav Vujić, founder and executive board member of New Frontier Group, emphasized the importance of fostering partnerships between startups and mid-sized firms.
He stated the objective of developing a program to engage individuals in large corporations interested in embracing innovations from startups, allowing for improved market adaptability.
In agriculture, innovators are leveraging technology to enhance product quality.
Nikola Golović, co-founder of Dirateh, highlighted their startup's focus on anomaly detection systems that aid manufacturers in quality control using artificial intelligence and advanced image processing algorithms.
According to studies from Western nations, manufacturers typically allocate 20% of their revenue to managing defective products.
Golović noted the pressing need for the food industry to supply safe products free from contamination that could endanger public health.
Luka Radovanović, co-founder of B2Bee, described how their company revolutionizes industries through improved speed, efficiency, and profitability.
They utilize a processor that gathers and structures data to facilitate informed decision-making crucial for businesses.
Their technology incorporates multiple trained AI agents that work collaboratively under the guidance of orchestrator agents, allowing clients to create collective intelligence based on real-time data analysis.
Kropt, a startup specializing in agricultural AI, focuses on major companies rather than individual farmers, as co-founder Marko Oskar explained.
The startup realized quickly that direct outreach to farmers was challenging, especially given their initial small team size.
By analyzing data related to climate and soil, Kropt has developed AI models that predict yields of various crops, which operate similarly to investment portfolios in economics, creating a portfolio of different crop varieties.
Currently, there are approximately 800 startups in the country, with a continuous upward trajectory.
Some analyses suggest that the growth rate of startups is around 30% annually, potentially bringing the total past 1,000 by the year's end.
It is estimated that about 6,000 individuals are employed within this sector, which is valued at approximately $1.1 billion.
At the recent Kopaonik Business Forum, a discussion focused on new startup ideas, including an initiative established during the previous forum aimed at connecting startups with larger corporations.
This connection is seen as vital due to the potential for startups to assist large firms in enhancing their product offerings.
Branislav Vujić, founder and executive board member of New Frontier Group, emphasized the importance of fostering partnerships between startups and mid-sized firms.
He stated the objective of developing a program to engage individuals in large corporations interested in embracing innovations from startups, allowing for improved market adaptability.
In agriculture, innovators are leveraging technology to enhance product quality.
Nikola Golović, co-founder of Dirateh, highlighted their startup's focus on anomaly detection systems that aid manufacturers in quality control using artificial intelligence and advanced image processing algorithms.
According to studies from Western nations, manufacturers typically allocate 20% of their revenue to managing defective products.
Golović noted the pressing need for the food industry to supply safe products free from contamination that could endanger public health.
Luka Radovanović, co-founder of B2Bee, described how their company revolutionizes industries through improved speed, efficiency, and profitability.
They utilize a processor that gathers and structures data to facilitate informed decision-making crucial for businesses.
Their technology incorporates multiple trained AI agents that work collaboratively under the guidance of orchestrator agents, allowing clients to create collective intelligence based on real-time data analysis.
Kropt, a startup specializing in agricultural AI, focuses on major companies rather than individual farmers, as co-founder Marko Oskar explained.
The startup realized quickly that direct outreach to farmers was challenging, especially given their initial small team size.
By analyzing data related to climate and soil, Kropt has developed AI models that predict yields of various crops, which operate similarly to investment portfolios in economics, creating a portfolio of different crop varieties.
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