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Startups of Belarus

In 2018, the Belbiz group of companies ran a detailed survey of the
Belarusian startup ecosystem state. This is the first report of the kind,
providing an insight into the Belarusian economy’s new emerging sector—technology startups.

The survey aims to identify the core features of new tech startup
companies, their needs, peculiarities of business operation and financing,
development plans, as well as startup founders’ profile. We do realize
that this survey first edition is not exhaustive. We are trying to fill the
information void observed in the market about startup companies with
innovative development capacity. Therefore, we will appreciate any
comment and advice on improving this survey to make sure its future
edition provides a detailed description of the economy’s new sector.
By a ‘startup’ we mean a newly created and rapidly growing company that
develops or provides innovative products or services with scalable
business models.

Belarusian legislation enshrines no such form of business entity as
‘startup,’ which explains the lack of statistics on their number in Belarus.
We have created a database of 1,000+ companies, building on a five-year
track record of ‘Imaguru’ startup hub’s and its partners’ (investors, support
centers, educational companies) activities with startups. We believe this
figure to be the first-ever assumption about the number of Belarusian
startups. Imaguru invited all participants from that database to take part in
the survey. 214 (21.4%) respondents filled out the questionnaire form.
We thank all those who had contributed towards the survey preparation
and data analysis. The methodology is based on international experience
in startup research. The survey was conducted under the AID Venture
project fostering the development of the Belarusian venture ecosystem
with the support from the US Agency for International Development
(USAID).

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