Balkan Startups and the Entrepreneurs Behind Them

  • Veneta Andonova
  • Milena S. Nikolova
  • Dilyan Dimitrov


The entrepreneurial ecosystem as a metaphor highlights the interconnectedness of the elements that comprise the whole system and transcends narrow industry boundaries. Institutions and rules shape this interconnectedness, but it is the people who engage directly in entrepreneurship who give the ecosystem its spirit. In this chapter, we present the profiles of would-be entrepreneurs and their early-stage ventures, as well as analysing the metrics that are intended to capture their ability to thrive and eventually become successful. A quantitative analysis of multi-year data from the investment funds Eleven and Launchub is used to provide a comparison with the findings of previous initiatives that attempted to characterize entrepreneurs and early-stage ventures. The methodological approach followed allows for direct comparisons with the results of these previous studies and allows us to discover the local flavour and dynamics of the entrepreneurial scene.


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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Veneta Andonova
    • 1
  • Milena S. Nikolova
    • 2
  • Dilyan Dimitrov
    • 3
  1. 1.School of ManagementUniversidad de Los AndesBogotáColombia
  2. 2.American University in BulgariaBlagoevgradBulgaria
  3. 3.SofiaBulgaria

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