80% of Czech start-ups plan to expand abroad

Nearly 80% of Czech start-ups plan to expand abroad, the most recent Startup Report from the Keiretsu Forum and CzechInvest’s experience show.

Only 22% of Czech start-ups are not (yet) considering such an expansion.

This is apparent from the responses of 150 start-up entrepreneurs who contributed to the formulation of the comprehensive Startup Report 2019/2020.

A similar trend is indicated by statistics from CzechInvest, which has been focusing on support for start-ups since 2011. “More than 70% of the start-ups we have supported within our programmes have also travelled abroad with us,” says Markéta Přenosilová, head of CzechInvest’s Start-up and Innovative SME Division.

For the absolute majority of Czech start-ups, the Czech Republic is the primary place of business. At the same time, however, there is a growing number of expanding start-ups – 30% of them are doing business outside of the Czech Republic. In the past, the percentage of start-ups operating beyond the CEE region was in single digits.

According to the Startup Report, the largest number of start-ups head to Europe, then to North America or Asia.

CzechInvest sent the most young innovative companies to Silicon Valley, New York, London and Lisbon.

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