February 15, 2020

“Tech Cities of the Future 2020/21” Report: 8 Serbian Cities and 2 Districts in Top 10 Listings

Eight Serbian cities and two districts have been recognized whopping 11 times, across 7 “Top 10 rankings” in criteria “cost effectiveness” and “FDI** performance”.

Budding potential of Serbian cities and districts has not gone unnoticed by a well respected 2020 edition of “Tech Cities of the Future 2020/21”* report, published in February this year. The focus of this report is to find European cities with the most promising perspectives for startups and tech investments. 

Winners in criteria “Cost effectiveness” 

Capital of Serbia, Belgrade, is listed as number 9 in “Top 10 Large European Cities of the Future” according to cost effectiveness criteria (page 12). The same criteria brought Novi Sad, the second largest city in Serbia, to the 2nd place in “Top 10 Mid-sized European Cities of the Future” listing (page 14). Five Serbian cities have taken places in the listing “Top 10 Small European Cities of the Future”: Leskovac as 2nd, Nis as 5th, Kragujevac as 6th, Subotica as 8th and Zrenjanin as 9th (page 16). Srem District took 8th place in “Top 10 Small European Regions of the Future” according to the same criteria (page 32). 

Winners in criteria “FDI strategy”

City of Nis, the home of $165,000,000 acquisition of Frame to Nutanix, the largest exit in Serbia to date, reigns as number 6 on the list “Top 10 Small European Cities of the Future” according to “FDI strategy” criteria (page 22). The District of Nis has the same place on another listing, “Top 10 Small European Regions of the Future”, clearly indicating the impact of this startup’s success in the eponymous region (page 32). “Top 10 Micro European Cities of the Future”, with potential in FDI strategy, features Sabac tentatively making its presence known as number 10 on the list (page 22). 

“Tech Cities of the Future 2020/21” confirms and expands Startup Genome Report’s findings 

Belgrade and Novi Sad have been recognized as a “startup ecosystem to watch out for” in the Startup Genome Report since 2019. This year only served to cement the ecosystem’s position on the global map. These additional 6 cities and 2 districts help that map gain a welcome texture and diversity. 

*Tech Cities of the Future” Report is a lovechild, so to speak, of fDi Intelligence (one of the world leaders in investment promotion and economic development solutions) and The Next Web, a media, events and intelligence company focused on new technology and start-ups.

** Direct investment refers to investment that is made to acquire a lasting interest in an enterprise operating in an economy other than that of the investor, the investor’s purpose being to have an effective voice in the management of the enterprise.

Download the full report here

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