The Recursive Presents Bite-Sized Discussions*
The public sector is a great example of central planning.
The Polish Development Fund (PFR), a financial institution, supports economic development initiatives. In 2016, it was formed with EU funds and pumped capital into PFR Ventures – a government-owned institution Limited Partner. PFR Ventures, a government-owned institutional Limited Partner, was formed in 2016 with EU funds.
Maciej Cwikiewicz shared with The Recursive his perspective on the opportunities and challenges that shape the Polish startup scene.
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R: What are some of the challenges and opportunities facing the Polish startup ecosystem today?
M.C. In the past few years, almost 1K Polish companies have raised pre-seed/seed financing. Some of them have managed to attract new investor.
There were more than 50 active local VCs. This is a new generation of Polish entrepreneurs. This is a challenge and an opportunity at the same time.
The situation will be much better than it was before 2019, but the records of 2021 or 2022 cannot be beaten.
R: Which sectors or industries have seen significant growth and innovation in Poland?
M.C. HealthTech has been the most popular industry for years. Many factors contribute to this success, including local challenges in public health care or global problems with civilisation diseases. I believe that in the coming years, we can expect to see exceptional HealthTech projects which will use the potential of AI in order to build companies in Poland on an unprecedented scale.
R: What is your vision for the future of Poland’s startup ecosystem and how do see it evolving over the next few years?
M.C. I think that the most important change is in the mindset of entrepreneurs. The fact that seed funding is now available has encouraged more people to start their own businesses, as they no longer see raising funds as a barrier. A group of people with experience in the industry is very open to sharing their knowledge and investing in new startups.
As a result of this, the components in the ecosystem are gradually falling in place, generating positive results for everyone.