Start up's Ecosystem in Tirana
The start-up ecosystem in Albania has been developed significantly especially in recent years. A startup ecosystem should be understood as a link between young entrepreneurs, mentors, investors,universities, large corporations, various (physical or virtual) organizations, public institutions to support the creation and development of new entrepreneurs. Initial support for generating business plans that are financially stable and models applicable to first creative ideas is usually what makes the difference between successful and failing efforts. This support is applied for new companies in innovation field, that are usually initiated by individuals or technology enthusiasts groups who lack entrepreneurial education as well as formal education for business management.
Below we present you a guide about the startup ecosystem created in Albania
(centers, platforms, organizations, institutions, events etc.) which support different
forms of creation and development of startups in Albania.
Workshop (Enterpreneurship &Innovation Lab)
Workshop is a strategic initiative focused on the assistance and development of the technology industry in Albania. The workshop also develops an annual accelerator program for high technology statups. The workshop also offers programs and many other events for entrepreneurs and young professionals who want to develop their business abilities, to utilize e-skills and network.
Protik ICT Resource Centre
The Protik ICT Resource Center is a center funded by the Albanian government and international partners aimed at promoting technology development for Albanian youth by organizing local and global activities such as conferences, information sessions or competitions that give young people the opportunity to participate in it. The center also offers an opportunity for new entrepreneurs.
Tirana Youth Center
Tirana Youth Center opened with the support of the Albanian Goverment, offers its free spaces for holding activities by youth, in various fields, social and humanitarian engagement and technology organization.
Dutch Hub- Your Cooworking Space in Tirana
Dutch Hub- Your Cooworking Space in Tirana is a work space in Tirana, which helps every professional looking for an office
Through several packages offered by this center aims to fit the individual needs of each working order, being flexible and kind to any request. Also, the Dutch Hub provides spaces for conducting trainings and seminars, not excluding the spaces for performing these events.
The Dutch Hub aims to create a professional community, that is starting to build, but still needs to be strengthened with the participation of a higher number of individuals. The focus of this community is the exchange between professionals, where each of them can contribute with entrepreneurial and cooperative ideas.
2. Organizations and platforms
Startup weekend Tirana
Startup weekend Tirana is a global network of passionate leaders and entrepreneurs, whose mission is to inspire, educate and empower individuals, teams and communities.
Startup Grind Tirana
Startup Grind Tirana introduces a close community forum for founders and entrepreneurs to learn from the most successful startups and to share the best experiences among them.
Yunus Social Business Balkans
Yunus Social Business Balkans (YSBB) accelerates and finances social businesses in Albania, Bosnia and Herzegovina, Kosovo, Macedonia, Montenegro and Serbia. Provides human resources, coaches and mentors for entrepreneurs through a structured program of business acceleration. For the most promising social businesses, YSB Balkans offers funding and also support after investments.
Open Labs Hacker Space Albania
Open Labs is the first hacking organization in Albania. Its purpose is to share knowledge by using open tools that are available through technology. Organizes weekly events in the field of technology.
The Swiss Entrepreneurship Albania
The Swiss EP in Albania is an integral part of the entrepreneurial ecosystem in Albania. It works closely with ecosystem organizations, startups teams and startup individs, media reporting in the field of entrepreneurship and all other actors involved in the field. In collaboration with ecosystem organizations, it supports and facilitates acceleration programs, events, seminars, lectures, meetings, pitches, trainings, etc.
Global Oppurtinities Albania
GO Albania is a non-governmental organization that seeks to achieve social and economic progress in Albania through a variety of approaches that help and develop entrepreneurship and entrepreneurial thinking.
Idea Make it in Albania
Young entrepreneurs, or having a business idea, have the opportunity to become part of the IDEA project, a program that supports innovative developments for entrepreneurs in Albania, funded by GIZ. IDEA offers a complete training package with CEFE methodology for business competence and skills, three months of counseling, and two months of mentoring
3. Programs and events
UK-Albania Tech Hub
The UK-Albania Tech Hub is a new program to support the partnership between Albania and the UK in the technology sector, which aimes boosting start-ups in this field in Albania and creating business opportunities with the UK . This is a new initiative that supports entrepreneurial skills.
The objective of this annual event is to identify and reward prominent professionals, successful leaders, innovators, professors, innovative women and public service projects and rising stars who have been able to leave a positive record during a calendar year and make acontribution in the broader ICT sector.
Summit of European startups
Startup Europe is an initiative of the European Commission part of the Digital Single Market strategy. Startup Europe Eastern Balkans Netscape is under the patronage of Startup Europe and aims to link the leading startup ecosystem actors in the Western Balkans. It consists of six members: Seavus Education , Development Center, Spark, Digitalizuj.me, Serbia Startup, Oficina Albania and ICK Kosovo.
4. Business angels
What is a Business angel?
An angel business is an independent individual, who provides capital for the development of a business. Typically, people with high incomes aim to help young entrepreneurs to realize a business idea, funded with their money. Capital can help an idea develop and turn into a company, and provide the initial basis for starting the operation and production of the target product or service.
The private investor does not only offer money, but is also interested in getting involved in the project by taking the role of a mentor. They invest time and their connections in the broader network of recognitions, with the aim of developing the proposed entrepreneurship.
What does a business angel define?
Angels investors are distinct from other categories of investors by the following factors:
⦁ They invest their money in the project, more than any other capitalist entrepreneur would invest;
⦁ They make their own decisions about their investments;
⦁ They invest depending on the sustainability of the project for profit;
⦁ Their main goal is returning the investment (ROI).
There are different categories of typologies of business angels.
They may be interconnected within suppliers, customers, or even competitors.
They may also be unrelated, meaning individuals who have not previously operated in the
sector conceived and proposed by the business idea.
Business angels basically offer a bridge between a business idea and a company
that is sufficiently developed to receive funding from a venture capitalist venture.\
How can I find a business angel?
The best way to attract an investor is through a well-thought presentation.
The business pitch concept consists in presenting a business idea to an investor or a group of investors, a contact that can be initiated via email, official papers, or a casual conversation. However, it should be kept in mind that investors receive a considerable number of proposals, so it is difficult to determine what is the right time to take the first step.
In Albania this concept is still in its beginnings but below, find some international sites where different opportunities are offered: