The country’s growing role is evident in the structure of the regional ecosystem, as Greece hosts 21% of all startups operating in the Balkans. Only Romania has a larger share, at 27%, while Bulgaria follows in third place with 17%.
Greece’s position is further reinforced by its ability to consistently generate new companies. In 2024, 114 new startups were founded in the country, followed by another 49 in 2025, placing Greece third in the region in terms of startup creation. Romania and Serbia occupy the top two positions, together accounting for half of all new projects launched across the Balkan Peninsula during the 2024–2025 period. Romania recorded 194 new startups in 2024 and 59 in 2025, while Serbia saw 195 new companies founded in 2024 and a further 46 the following year. Overall, 898 new startups were created across the Balkans over the two-year period.
Beyond volume, Greece is also gaining ground in terms of quality and scale. According to the study, the country is home to two unicorns—companies valued at more than $1 billion—and four “soonicorns,” firms expected to reach unicorn status in the near future. Across the Balkans, there are eight unicorns and 19 soonicorns in total, with the majority operating in the corporate software market, underscoring the region’s growing strength in enterprise technology.
Investment activity provides another strong signal of Greece’s momentum. Between 2022 and 2025, Greek startups attracted approximately $700 million in funding, placing the country second in the regional ranking. Croatia leads with $883 million in funding over the same period, while Romania follows in third place with $408 million. Greece also ranks third in terms of venture capital deal volume, having recorded 168 transactions between 2022 and 2025. Together with Romania and Bulgaria, Greece accounts for 82% of all local investors active in the Balkan market.
Despite these positive indicators, the data also point to a slowdown in overall venture capital activity across the region. While 244 VC deals were completed in 2022, the number fell sharply to just 82 in 2025, reflecting a more cautious investment climate.
