The startup market in Poland has been developing extremely dynamically in recent years. Despite external challenges related to the pandemic, economic slowdown and complex geopolitical situation, young companies are successful on the Polish market and are increasingly bold in expanding abroad. Today, our local startups are present not only on European markets, but also actively operate in the United States, Brazil, South Africa, Canada and many others. What could be done in order to continue the good streak and create ideal conditions for development for these emerging companies?
Some regions in Poland are leaders when it comes to creating new, innovative companies. One should mention for example Lower Silesia and Mazovia, which record the highest percentage of new startups. Polish young companies most often operate in industries related to technology (including IoT and deeptech) and artificial intelligence. The latest study by the Startup Poland Foundation “Polish startups 2023” shows that AI is the keyword most frequently indicated by Polish startups, reflecting the nature of their main product or service.
Poland is not enough
Even though Polish technological achievements cannot yet be compared to global inventions such as chat GPT, Polish startups are boldly entering foreign markets and are being more and more often noticed on a large scale.
An example of such success is WorkTrips.com, an artificial intelligence-based travel management tool that optimizes costs, automates processes and provides assistance during business trips. The company is doing so well on foreign markets that it opens a representative office in Dubai and joins the development program of the Emirates group. Today, the WorkTrips.com team consists of nearly 90 people around the world in Poland, Ireland, Luxembourg and the USA.
Startups from different sectors can also boast plans for a long-term expansion. One of these is Foodsi, an application created to save food and other products from being wasted. Shops, restaurants, cafes, confectioneries, bakeries and gas stations offer via the application discounted packages of food products whose expiry date is approaching. For now, Foodsi operates in the largest Polish cities, such as Warsaw, Kraków, Gdańsk, Wrocław and Poznań, but in the coming years the creators are planning to expand to other countries.
How to grow even faster…
According to data presented by PARP, in our country only two out of three companies survive the first year. The challenges that newly established enterprises most often face include: ineffective financial management, incorrect understanding of the law, inadequate market and competition analysis and unsuitable channels for reaching customers, which is related to an underdeveloped marketing and sales strategy.
So what should one do to avoid typical mistakes, especially in the initial phase of development? Various programs offered by institutions supporting entrepreneurs, such as PARP, come to the rescue. In addition to acceleration projects for startups, the Polish Agency for Enterprise Development also conducts educational activities supporting Polish businesses at every stage of their development.
To develop, startups also need a stable legal environment that will provide appropriate conditions for growth. Appropriate contacts and properly selected partners are also essential. Ecosystems bringing together startups from all over the country have been operating in Poland for many years. Thanks to them, business owners can take part in networking meetings and thematic workshops, exchange knowledge and experience, but also use each other’s services.