Poland lacks a well developed venture capital market, according to the Minister of Entrepreneurship and Technology Jadwiga Emilewicz. She said that the government is close to finishing its work on crating legal framework for the so-called simple joint stock company, which would make VC investments easier.
“We have substantial funds collected on entrepreneurs’ bank accounts, we have a well-developed banking sector, a lot of entrepreneurs and an increasing number of young tech companies, but I think we still don’t have enough venture capital market,” she said. Emilewicz added that the majority of capital investments over the past decade focused on private equity funds and big ticket transactions. Towards the end of 2017, the government launched „Start in Poland” program, with €3 billion in funding placed with the Polish Development Fund (PFR) and the National Center for Research and Development (NCBiR) designed to share the risk of investing in start-ups with private investors and thus encourage them to become more involved in the new endeavors. She also added that the government is aware that EU funds transfer will only be as favorable as it is now until 2022 and that it is vital to use this time well to encourage more investment.