This article was developed within the program Venture an Idea funded by the USAID.

What are angel investments? The definition is easily found - Angel investments are investments made by individuals, known as angel investors, into early-stage startups or entrepreneurs. 

Angel investment represents a very important boost to the local startup ecosystem, and provides needed support to the startups in the early stage of development. 

The Digital Serbia Initiative's (DSI) Business Angels Network has been a major player in Serbia, investing in 10 local startups a million euros in just two years. The startups such as: Tapni, Ota Sync, Shopnosis, LeadDelta, B2bee, Fuller Vision, EasyPass, Outpost Chess, Neonfunction and ZenHire have received not only investment, money, but the advice, connections, and know-how from this network. These startups have grown quickly and have been able to attract an extra nine million euros from other investors.When it comes to startups and their businesses, their professional field is wide, from healthcare to retail and technology. The diversity shows that there is a lot of need for innovation and that Serbian startups can offer tons of solutions. Lena Miladinović, co-founder and CEO of startup Outpost Chess, marks - the investment helped them to hire more people and create a pivot. But the most important thing is that DSI Business Network angels are people who believe in the idea and who are willing to help. That way, a lonely startup can become a star - community helps create victory. Nebojša Šabović, CTO and co-founder of the startup Fuller Vision echo the same feelings. He emphasized that this kind of investment is also great for brand visibility. 

When it comes to the journey of DSI Business Angels, in just two years, by the word of Saša Popović, President of the Board of Directors of the Digital Serbia Initiative and co-founder of the company Vega IT, this network has grown to more than 50 angel investors, and the latest news is that The Business Angels Network of the Digital Serbia Initiative recently became the first Balkan angel network member of the prestigious European Business Angels Network (EBAN), further confirming Serbia's position as a successful innovation hub.

This article is made possible by the support of the American people through the United States Agency for International Development (USAID). The contents of this program are the responsibility of Nova Iskra and do not necessarily reflect the views of USAID or the United States Government

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