Startup Ecosystem Development in Belarus: Insights from a Leading Accelerator Founder

The startup ecosystem in Belarus has seen significant development, driven by the efforts of the nation's first startup accelerator and other key initiatives. The accelerator has played a crucial role in nurturing innovation and supporting early-stage startups, contributing to the dynamic entrepreneurial landscape in the country.

Groundbreaking Initiatives and Competitions

Belarus's first startup accelerator made a notable impact by organizing the international startup competition SU&IT, which drew over 1,000 participants and featured 300 competing startups. This event highlighted the growing interest and potential within the startup community. The accelerator's three-month program selected the 25 best projects, focusing on areas such as artificial intelligence (AI), augmented reality/virtual reality (AR/VR), food-tech, and telemedicine.

These initiatives have helped nurture successful startups by providing mentorship and expert consultations. A community of fellow entrepreneurs further supports the dynamic ecosystem, creating a nurturing environment for innovation and entrepreneurship.

A Supportive Ecosystem and Collaboration

The startup ecosystem in Belarus is part of a broader network that includes prominent innovation centers like Silicon Valley and Skolkovo. The Moscow City Innovation Agency is actively involved in fostering startups, while the KBTU startup incubator in Kazakhstan contributes to the regional development of entrepreneurial ventures. Numerous events organized by these centers have bolstered the growth of startups by offering platforms for exposure and networking.

The accelerator in Belarus has faced challenges in developing the ecosystem but has made strides by creating the first tracker association in the country and launching a training program for startup mentors. Collaboration with universities for lectures has further supported the ecosystem in Minsk, enhancing access to training through an online platform that promotes a barrier-free environment for all.

Accelerators as Catalysts for Growth

Startup accelerators play a crucial role as valuable springboards for early-stage startups, helping them to embrace growth and learn from failures. By 2025, hundreds of programs worldwide will specialize across various verticals and geographies, evolving from simple bootcamps to comprehensive growth engines. Thematic accelerators in areas such as healthtech, climate, and AI provide focused support, often backed by venture capital firms or universities.

Participation in accelerator programs involves rigorous scrutiny of applicants, with a focus on strong founding teams, customer validation, adaptability, and leadership potential. Clarity in communication and a long-term vision are favored, and applications must be customized for specific programs. Engaging fully in workshops and events, setting clear objectives, and building long-term relationships are key strategies for success.

The Global Perspective and Challenges

Globally, accelerators have become dynamic vehicles for tech innovation, with over 8,000 programs worldwide, more than half of which were founded between 2014 and 2020. These programs nurture and supercharge new startups, helping them to shorten time to market and bridge gaps between startups and corporations. Founders can apply at either the concept or market level, gaining access to resources, expertise, and networks that increase their chances of survival.

Despite the support provided by accelerators, the startup journey remains challenging. Up to 90% of startups fail, with only 1% reaching unicorn status. Most startups struggle to raise a second round of funding, highlighting the importance of innovation accelerators in increasing survival rates. Programs like ICL's BIG accelerator and Google for Startups target growth-stage startups, offering structured programs to convert ideas into viable projects and accommodate small cohorts of startups for focused growth.

In conclusion, the development of the startup ecosystem in Belarus, spearheaded by the country's first accelerator, reflects a commitment to fostering innovation and entrepreneurship. The collaboration with international centers and the adoption of best practices from global accelerators continue to drive the ecosystem forward, providing a foundation for future growth and success.