The report also includes the list of 13 Belarusian Startups to watch in 2021.

In 2020, Belbiz Group conducted a detailed study of the startup ecosystem in Belarus.

“Belarus Startups 2020” is a detailed analysis of the startups’ resilience at different stages in response to the unprecedented challenges of 2020, as well as startups’ business models and industries. The 2020 crisis caused dramatic shifts in the strategy of many startups both in Belarus and abroad. In Belarus, we can see the impact on startup companies of both the global pandemic and the political crisis in the second half of the year.

The data in this study is based on a survey of startups in 2020. The survey was conducted in September 2020 with a series of interviews during October-November. 260 companies took part in it, which is 21.5% more than in 2018. We believe that the total number of startups in Belarus has grown by about the same amount. The total data base of Imaguru startups has over 1000 companies, which also includes those that have ended their operations for various reasons. We thank everyone who contributed to the preparation of the study and the analysis of this data.

The survey was conducted within the AID-Venture initiative for venture funding development in Belarus, with the support of the United States Agency for International Development (USAID).

The electronic version of the report is available at the following link.


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