The Silicon Gardens team presented The State of Adria Tech report, which examined tech companies that have received investments in 2021 or 2022 and have Slovenian, Croatian, or Serbian funders as active participants.
Focusing only on Slovenian tech companies, we see remarkable investment growth, skyrocketing from around €200 million between 2016 and 2017 to an impressive €1.25 billion between 2021 and 2022. This exponential six-fold investment increase presents Slovenian's exceptional market development over the past five years. Moreover, there has been a significant increase in the number of exits and secondaries, with a total combined value of €1.2B. Furthermore, the number of unicorns has escalated from one to four, providing additional evidence of Slovenia's enormous technological progress in recent years. The 4 unicorns active in Slovenia are Outfit7, Httpool, Sportradar and Outbrain. It is noteworthy that Slovenia's tech companies, which have successfully raised capital, operate across a record number of industries. Besides, the extensive use the software-as-a-service business model (SaaS, a delivery model in which a centrally-hosted software is licenced to customers via a subscription plan) indicates their impressive expertise in software development.
However, the survey also highlights that most of the invested capital in Slovenia's tech companies comes from the lead investors having legal seats located in the USA or other European countries (97%) and that the most successful tech companies in terms of operational performance and investment raise base their legal seats outside Slovenian borders (86%). However, the study, on the other side, finds that 90% of all Slovenian tech companies with legal seats outside Slovenian borders keep their key personnel, i.e. R&D departments located in Slovenia.
You can see more findings by accessing The State of Adria Tech report at the following link: https://silicongardens.com/state-of-adria-tech/
