The growing interest in investments in startups was particularly noticeable in the venture capital market, where, according to a report by PFR Ventures and Inovo, in 2021 the value of taiwan phone code transactions was 40% higher than in 2020, and taking into account DocPlanner's mega-round estimated at PLN 600 million, the increase was almost 70% year-on-year. The absence of a slowdown in the Polish market was the result of a large commitment of public capital that stabilized our domestic market.
The business start-up market is currently beginning to slow down due to increased market uncertainty and reduced availability of cheap money. The current situation is also being influenced by the expiry of competitions for EU funding, which will result in fewer, albeit more thoughtful, investments in our region.
In 2022, the venture capital market slowed down, remaining worth more than PLN 3.6 billion compared to 2021. In 2023, new public funds are expected to enter the market, which will account for 40% of the value of all deals closed in Poland last year. Looking at the previous years, it can be seen that public funds are a key part of the venture capital market in Poland. For this reason, the sector is counting on the launch of the budding FENG programme to help break new records in the coming years.