Belarus
Europe · Pop. 9.1M · #50 startup ecosystem by EV
1 Overview
2 Largest rounds
Largest funding rounds in Belarus
A live treemap of $15M+ rounds from the Dealroom API. Each cell is one round into a Belarus-headquartered company, grouped by Dealroom sector.
Largest rounds in Belarus - 2026
3 Startup funnel
Belarus's power-law funnel
From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.
* Conversion rates are derived from current counts.
4 VC investment
How much venture capital flows into Belarus
VC investment into Belarus-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage. Live from the Dealroom Next Gen API.
5 Notable companies
Top private companies in Belarus
Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.
6 Academia
Belarus's academic flywheel
Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Belarus.
| # | University | City | Founders | Companies |
|---|---|---|---|---|
| 1 | Belarusian State University | Minsk | 262 | 300 |
| 2 | Belarusian State Economic University | Minsk | 61 | 72 |
| 3 | Belarusian National Technical University | Minsk | 56 | 70 |
7 Location comparison
How Belarus stacks up
Compare Belarus with similarly sized ecosystems in Europe — switch between combined EV, 5-year EV growth, and a growth × size view. Expand the table for the full ranking.
Combined enterprise value of each ecosystem.
Top ecosystems in Europe ranked by combined EV. Belarus's row is highlighted (#12).
| # | Ecosystem | Combined EV | 5-yr EV growth | Unicorns | VC invested | Tracked startups |
|---|---|---|---|---|---|---|
| 1 | United Kingdom | $1.2T | 4.6× | 221 | $24.1B | 20.1K |
| 2 | Germany | $404B | 4.2× | 91 | $8.2B | 8,770 |
| 3 | France | $401B | 5.4× | 66 | $8.4B | 9,145 |
| 4 | Netherlands | $324B | 2.8× | 43 | $3.2B | 3,919 |
| 5 | Sweden | $278B | 5.7× | 58 | $3.5B | 3,253 |
| 6 | Switzerland | $214B | 3.5× | 50 | $4.3B | 3,030 |
| 7 | Denmark | $142B | 4.3× | 24 | $1.8B | 1,669 |
| 8 | Belgium | $108B | 7.2× | 12 | $902.6M | 1,898 |
| 9 | Ireland | $104B | 4.8× | 25 | $1.2B | 1,974 |
| 10 | Spain | $98.4B | 5.4× | 18 | $3.3B | 4,583 |
| 11 | Finland | $79.1B | 3.9× | 10 | $2.2B | 1,755 |
| 23 | Belarus | $12.9B | 2.1× | 4 | $5.5M | 75 |
8 Premium analytics
What we don't show on this page (yet)
Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full Belarus dataset — or see a sample on the Dealroom app.
More data
Explore Dealroom data →Get the full Belarus ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.