Up Market

Report of startup financing in 2017

Another record: 140 million dollars raised again!
Proven ability: 3 exits including our first startup - Zemanta
(epi)Center: ICO capital of the world!
Increased awareness: legislation issues are really getting addressed.
Hundreds of entrepreneurs, thousands of jobs, major economic impact.
Ecosystem is scaled, able, eligible, impactful.
We have highest concentration of experience with blockchain in the world.
Identification and implementation of appropriate legislative support is happening on highest level.

Half-a-billion in five years
Investments in start-ups from 2005 to 2018

We broke the record from phenomenal 2015 - Slovenian founders have raised almost $150M worldwide, with 2018 already trending strong.

Investments value
Number of investments

Top Deals of 2017

Origintrail
ICO
$22,000,000
Layer
2/24/2017 - Financing round
$15,000,000
Celtra
6/21/2017 - Financing round
$15,000,000
Tokens
11/26/2017 - ICO
$15,000,000
cofound.it
8/9/2016 - ICO
$15,000,000

$ Value Of Deals By Type

# Number Of Deals By Type

Healthy mix of large and small deals

under $50.000
$286,907
15 investments
$50.000 - $150.000
$3,589,776
56 investments
$150.000 - $1M
$6,828,157
18 investment
$1M - $10M
$45,973,610
16 investments
over $10M
$105,714,285
7 investments

Slovenian startups are very diverse

Clear winner last year was blockchain, building on the foundations from bitstamp and iconomi, a whole generation of founders created 5% of global ICOs

Primary Technology Platform

Primary Industry

All Time Leaderboard

Since 2005, 345 startups raised over $500M in over 500 transactions. Some founders have raised multiple rounds by now, experiencing different types of capital, while other are just starting. Unpublicized deals amounted for a third of all funds raised in 2017, and one half since 2007.

Exits

  • Mimovrste
  • Zemanta
  • iTivi
  • Cubesensors
  • Bigdeal
  • Klika
  • Kosei
  • Outfit7
  • Najdi.si
  • Zootfly
  • Toboads

ICO Rock-stars

  • cofound.it
  • hive project
  • insurepal
  • Moneyrebel
  • Origintrail
  • quantum project
  • rialto
  • sportify
  • sun contract
  • tokens
  • Viberate
  • Gramatik
  • Datafund

Crowdfunding Successes

  • maglev
  • Flykly
  • Goat Story
  • Sipa Boards
  • mordhau
  • Chipolo
  • Sipa Boards
  • teodoor
  • Red Pitaya
  • Lumu

Founder-unfriendly Legislation

After years of working with startups, multiple legislative issues remain unadressed, but at least they are becoming apparent to the community. Ales Spetic wrote a good overview of all topics that need to be improved in order to get Slovenia to next level as startup-friendly country. Here is the summary, but everyone should read the source. And then demand these things improve.

Process Problems

  • Physical presence of investor required
  • Company can't buyout inactive founders
  • Small funds and syndicates are illegal

Tax Problems

  • Capital reinvestments are not encouraged
  • Stock options are prohibitively expensive
  • Stock deals are taxed in full

Business Problems

  • Unclear process for foreigners w/ FURS and others
  • Employment of foreigners is hard
  • Labor rules and regulations too complex for small companies

...and that is why on average 100 mio EUR of capital that could be invested into Slovenia anually flows elsewhere. Unfortunately in the hands of young Slovenian entrepreneurs that leave with it...