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The topic of startups is already resonating in the Chamber of Deputies of the Czech Republic. A House subcommittee on startups has been established

21.01. 2025
line-arrow The topic of startups is already resonating in the Chamber of Deputies of the Czech Republic. A House subcommittee on startups has been established

In mid-January 2025, startups reached an important milestone. Startup topics will now be the focus of the Parliamentary Subcommittee on Startups, Science, Research and Innovation, which for the first time ever has the topic of startups in its title. Its first meeting brought together members of the subcommittee as well as representatives of the startup ecosystem itself and representatives of the Ministry of Industry and Trade and the Ministry of Science, Research and Innovation.

A discussion of all key players took place on the spot, while Ivo Denemark, Director of the Startups and Venture Investments Division, presented together with Martin Jiránek from Czech Startup Association data, facts and overviews of the current startup ecosystem. In the Czech Republic, there are currently an estimated 3,000+ startups, 100+ venture and private funds. Approximately 100 investments are made annually and startups account for an estimated 5% of the country’s GDP.

The Czech Republic has room for improvement and changes must come as soon as possible. The issues facing the startup environment in the Czech Republic cut across several laws and fall under more than one ministry, be it startup visas, taxes, talent attraction or the establishment of the companies themselves.

“Startups do not ask for support from the state in the first place, but for competitive conditions that would correspond to the situation in other European countries. Until recently, they did not lobby, but reacted by moving their business, i.e. when Czech founders often set up companies abroad, where they have a more favourable environment for their business. This situation was presented to MEPs along with the need to set up a more startup-friendly environment,” said Ivo Denemark, Director of the Startups and Venture Investments Division.

CzechInvest has been supporting startups since 2011 and is a member of the European ESNA alliance, which brings together European countries and compares the state of the ecosystem and the implementation of individual standards, which are based on a declaration signed by member states (Startup Nations Standard) containing eight standards. These include, for example, fast and cheap company formation, digitalisation and communication in English, regulation of employee shares, regulation and sandboxes in innovative industries, and attracting and retaining talent.

Last year, the Czech Startup Association was established in the Czech Republic, representing startups, venture capital funds, angel investors, innovation centres and incubators in dialogue with the government and Parliament. It is working on a comprehensive set of legislative and systemic measures that should contribute to improving conditions for startups and their development, encouraging investment in them and improving systemic functioning at the state level.

David Horinek

PR Manager and Spokesperson

+420 724 591 667 david.horinek@czechinvest.gov.cz

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