Top Unicorns in Poland

Poland is home to not only one of the biggest economies in Eastern Europe, but it’s also one of the most successful in terms of Gross Domestic Product (GDP) in the world.

In fact, as of the 2023 Economic Complexity Index, Poland’s economy ranked 21st globally, with its largest sectors being service, industry and agriculture, making up 62.3%, 34.2% and 3.5% of its GDP respectively.

But, not only is the Polish economy pretty successful in relation to the rest of the continent and the world, it also has a thriving startup scene. Located at the very heart of Europe, Poland serves as the ideal crossroads between East and West.

The country is surrounded by seven other nations, and having become a centre for business and innovation more generally, Poland is playing an important role in the Central and Eastern European (CEE) economic landscape.

Thus, it’s no surprise that it has developed a healthy startup ecosystem – in fact, one of the best in all of Eastern Europe. With more than 3,000 startups nationwide and an ever-growing number of VC firms, Poland has the 33rd-best startup environment in the world.

 

Is Poland a Good Location for Startups? 

 

There are several factors contributing to the fact that Poland has become a top location for ambitious entrepreneurs and emerging businesses, one of which is the fact that the country’s economy is experiencing tremendous growth.

In fact, between 2012 and 2022, Poland experienced a growth rate of 3.7% as opposed to 2.5% average across the rest of Eastern Europe. Warsaw is currently both the largest city in the country as well as a major tech hub.

Here are some of the most important factors that make Poland an ideal location for startups:

 

• The country has a growing talent pool in the tech industry, boasting plenty of highly skilled professionals in IT, engineering and more. Poland’s universities have produced thousands of highly qualified graduates, especially in STEM (science, technology, engineering and mathematics) fields.

 

• Major cities including Warsaw, Wroclaw and Kraków have emerged as important startup hubs, offering entrepreneurs a network of incubators, accelerators, coworking spaces and large tech communities. The country’s community of entrepreneurs, investors and mentors are actively contributing to the border growth of the startup ecosystem.

 

• Operational costs are fairly low in Poland, especially compared to parts of Western Europe. That includes costs for office space and general expertise, making it easier all around to bootstrap a startup. Furthermore, labour is pretty cheap while still being of high quality.

 

• Poland is both part of the European Union (EU) and has easy and convenient access to European markets more generally.

 

• The country has a fairly advanced and robust digital infrastructure, boasting advanced mobile networks and pretty fast internet. This helps startups in terms of scalability and their general operations.

 

• The Polish government provides a variety of funding programmes and grants for startups. This includes tax breaks, innovation subsidies and incentives for research and development. The country also benefits from EU structural funds which are aimed at supporting technology, ovation and entrepreneurship, providing startups with access to European financial resources.

 

• The investment climate in Poland has grown significantly in recent years, with both domestic and international investors beginning to recognise the potential of Polish startups.

 

• The legal framework in Poland makes it easier than in other countries for entrepreneurs to start and run businesses. The country’s laws also provide IP protection, making it a safer environment for innovators and tech startups.

 

 

Unicorns in Poland

 

As of October 2024, Poland is home to only one company that has managed to achieve unicorn status – that is, a privately owned business that is worth a minimum of $1 billion.

DocPlanner

 

 

DocPlanner, based in Warsaw, Poland is the country’s one and only unicorn, having reached its $1 billion valuation in September 2021. It took nine, nearly ten, years of business and a total of $141 million of investment capital to achieve this milestone, with Hermes GPE and Kreos Capital among the company’s top investors.

Launched in 2012, DocPlanner was founded by Luca Puccioni and Lucjan Samulowski and operates an online booking platform in the healthcare sector.

DocPlanner allows users to make doctors’ appointments via its online platforms. Patients are provided with access to a database of all specialists who are enlisted, and from there, they can schedule an appointment according to the doctors’ calendars.

In addition to giving patients an efficient way to book doctors’ appointments, the platform also helps physicians manage their patients and calendars more generally.