“A remarkable event for startups!” This is how Xhoni Qirko, Co-Founder of Sun Easy Albania, described the evening held in early autumn in Prishtina, which brought together numerous actors from the entrepreneurship and investment ecosystem.
For the first time in Kosovo, Keiretsu Forum Southeast Europe (KFSEE), in collaboration with BKT Kosova, promoted their close and successful partnership in supporting the startup ecosystem. This collaboration marks a pioneering relationship of its kind in the country and sets a bold example for the entire region.
The main focus of the discussions was the startup ecosystem in Kosovo and the Western Balkans, the challenges these startups face, and the best solutions to facilitate entrepreneurship and increase the chances of success.
The event began with opening remarks from Ardian Hoxha, President of KFSEE, who delivered an encouraging message to the key players, urging them to contribute not only to the Kosovar ecosystem but also to the wider regional ecosystem.
“Angels Connect Socials” continued with a speech from Suat Bakkal, Executive Director and Board Member at BKT Kosova. He emphasized the importance of key ecosystem actors and the collective efforts to improve the environment. Drawing a parallel between his daughter’s wish for a “unicorn” toy and the shared mission with KFSEE, Suat Bakkal stated: “For our dreams, we need to work together.”
Muharrem Inan, Head of Financial Institutions at BKT Kosova, gave a presentation on BKT Kosova’s initiatives to foster innovation and entrepreneurship. Among these initiatives is the launch of a €1 million fund to be invested in startups through Keiretsu Forum SEE. He also unveiled details of the partnership between BKT Kosova and the Kosovo Credit Guarantee Fund (KCGF) for the Diaspora Investment Window. Supported by the Government of Kosovo, this initiative sees BKT Kosova contributing up to €3 million to support diaspora-founded enterprises, boosting local production and economic growth.
Ravik Mima, Executive Director of KFSEE, shared recent developments, highlighting startups co-invested by forum members, such as FinqUp, Yova, and Boksy Adriatic. He mentioned that KFSEE is now the only regional platform supporting young entrepreneurs from the Western Balkans and Southeast Europe, while also facilitating a tangible means of regional economic cooperation. An example he shared: an investor from North Macedonia could now co-invest with one from Serbia or Albania in a startup from Kosovo. Mima drew a historical parallel: “We are becoming part of history for the region, similar to the success story of Germany and France with the creation of the European Coal and Steel Community (ECSC), which eventually led to the formation of the European Union.”
In this context, Igor Madzov, Board Member of KFSEE, spontaneously demonstrated the virtual agent of FinqUp, an innovative fintech startup that utilizes artificial intelligence for financial services. As he interacted with the virtual agent Megi, the demonstration was met with both interest and laughter from the audience.
During the panel discussion titled “The Development of the Startup Ecosystem and Investments in Kosovo and the Western Balkans”, all speakers agreed that a dedicated innovation fund is crucial for the ecosystem’s growth.
Arta Istrefi, Local Program Officer for the Swiss Entrepreneurship Program and Co-Founder & Performance Director at Narwhal Network, emphasized the significant role this fund plays in smoothing the entrepreneurial journey in Kosovo.
Metihe Kastrati, Managing Director at Innovation Center Kosovo (ICK) and Founder of Datawis, appreciated the efforts of ecosystem players and shared the milestone that ICK has supported the development of 500 early-stage ideas or enterprises. She stated, “These were 500 dreams that ICK helped bring to life.”
Grant Van Cleve, KFSEE member, investor in 112 startups, and President of the American Chamber of Commerce in Albania, reiterated the event’s key message about the inclusion of actors and the pooling of their efforts. He highlighted that KFSEE is the ideal place to connect with investors who believe in this idea and its environmental impact. He also advised the founders present to surround themselves with supporters who believe in their ideas.
Echoing this sentiment, Ardian Hoxha added, “A brand itself is trustworthiness,” stressing that building trust is a crucial step for any startup—not only to build a strong team and revenue streams but also as the secret ingredient that attracts investors even when the numbers may not look promising.
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