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Albania Is Entering Startup Renaissance Driven by Returnees and Young Innovators

петък, 20 септември 2024 13:47

How many unicorns? Zero. How many world-class AI startups? Zero. OK, how many VC-funded startups going global? Still zero.

Let’s focus elsewhere; Albania doesn’t have much to offer.

Well.. not quite. The Albania’s startup ecosystem is getting ready to take on the big guys of Europe very soon. Let’s say, it’s just gotten a late wake-up call but is already charting its way forward. So, when I got an invitation from Patrik Fetahaj to visit and take part in the ICT Awards ceremony in late May this year, I decided to check out the country first-hand and see how it’s building its future. And, Patrik is one of those building the future for Albania.

Albania’s startup ecosystem is waking up with fresh talent

Patrik Fetahaj works for GIZ Albania and is the Program Advisor of EU4Innovation, the project leading the charge in creating Albania’s innovation and startup ecosystem. After finishing his studies at Baruch College in the US 10 years back, Patrik headed straight back to Kosovo and Albania to contribute to the region’s economy. He has been on the job of building Albania’s startup ecosystem for more than five years now. He was fighting a lonely battle for a long time, but, increasingly, he has more and more company now.

Especially in Kushtrim Shala – a fellow Kosovan, who has just executed the annual Albanian ICT Awards ceremony flawlessly for the 12th time in May this year. At the event two things stood out for me:

    • First of all: how young most innovator-awardees this year were. Many of them are still in school, but putting in their collective brainpower to develop highly technologically advanced solutions, tackling problems that an emerging country presents.
    • Secondly, how Albanians see themselves not as a country but a nation. ICT Awards celebrate Albanian innovation – be it from Albania, Kosovo, Montenegro, North Macedonia, or the worldwide diaspora. If you are Albanian, you are “one of us”. And, that means, a huge pool of talent ready and motivated to work for the betterment of the South Balkans.

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