The Startup Ecosystem of Albania

Albania’s startup ecosystem is still in the early stages, however there are both public and private sector efforts to boost startup development and entrepreneurship. Albania has a promising talent base with skilled IT workers that have already created notable startups, such as Kreatx and Publer.
Albania has the necessary foundations for becoming a success story in the near future. The local startup community is full of enthusiasm, and the country provides various support systems with the help of international development organizations. There are also stakeholders, like EBRD, that support and guide startups and facilitate access to international markets and investment networks. Furthermore, the Ministry of State for Entrepreneurship is a government body that aims to assist private entrepreneurship in the country.
Over the last few years, Albania has developed several innovative activities and initiatives, such as Albania Tech, Ofiçina, Swiss Entrepreneurship Albania, Pro-Tik Center, and ICTSlab, all formed with the goal of encouraging entrepreneurial skills and mindsets within the local population. Moreover, the Albanian-American Development Foundation partnered with Norfund, Crimson Capital Corp, and the Municipality of Tirana to establish CFF, which will provide financial support to MSMEs and address one of the challenges of the local ecosystem: limited funding opportunities. Additionally, local software development companies have been eligible for tax relief since early 2019.
As one of the countries with the most brain drain in the Western Balkans since 2010, Albania’s startup ecosystem is still very young. However by creating and growing a skilled and educated workforce, there could soon emerge a sustainable startup ecosystem focused on tech companies. Furthermore, Albania attracts a diverse range of talent, as it offers digital nomad visas that can be extended up to five years.
The EU has raised funds for startup development and financing to help Tirana become a major innovation hub in the region.