“More fiscal incentives for start-ups” - Kapo: They are in the early stages of development. They lack connections with international hubs
Albania is still in the early stages of developing its startup ecosystem, but it has the potential to become an innovation hub in the region, if the right mechanisms are used to increase support for them.
According to researcher Klevisa Kapo, the lack of connection of these new businesses to international hubs is just one of the factors hindering their rise.
"The startup ecosystem in Albania is in its early stages, which means that many essential elements are missing, such as stable structures, government mechanisms, connections with international hubs, and for this reason, the support that startups have in Albania is somewhat limited and perhaps not competitive with the most developed ecosystems in the world. Currently, we have forms of support for startups, such as grants ," Kapo emphasized.
She stated that fiscal incentives, paying their employees' salaries in the first months, or more competitions where start-ups can win grants are just some of the ways in which support for them can be increased.
"A very good mechanism or form that could support start-ups could be incorporated into the start-up law and could include various forms of support, such as tax support, support with employee salaries in the first years of a start-up. There are models in the world, which at the moment a start-up is built, the state classifies them in a separate category and they have diverse benefits that other businesses do not have. There are also many initiatives that have been undertaken, such as various competitions that are held for start-ups, coworking spaces, Pyramid centers ," said the researcher.
Albania ranked 83rd in the world in the latest Global Startup Ecosystem Index, deteriorating compared to the previous year.
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