On European soil is the “top 10” most friendly countries for creativity run in 2023, when Europe scores points on the world map of the most dynamic innovation ecosystems. Ten countries will receive the title of the most favorable regions in the world for creating start-ups by 2023, but Greece did not manage to take a place in this “top ten”.

The most start-up-friendly country this year was the Czech Republic, followed by Finland in second place and Sweden in third.

In the list of “Best Countries to Launch a Startup” for 2023, compiled by Business Name Generator and presented by the Association of IT and Communication Companies of Greece, Estonia follows Estonia, and Slovakia closes the top five in the world. The UK, the Netherlands, Austria, Denmark and Portugal also rank among the friendliest ecosystems for startups in 2023.

The rating of countries by the Company Name Generator is based on a number of criteria, both economic (current tax rates, GDP rate, start-up costs) and social (quality of life, degree of happiness of citizens). To make the “top ten”, the organization evaluated a total of 50 countries around the world.

The Czech Republic is one of the most preferred destinations for starting a startup in 2023 due to very good performance in a number of areas. The cost of starting a startup corresponds to 1.1% of GDP per capita, while labor costs are considered reasonable, the average salary is $1,800 per month.

Finland was named the second best country for start-ups in the world in 2023 as businesses are taxed at 20% and company formation (start-up processes) is only 0.7% of GDP per capita.

Sweden ranked third due to the low cost of starting a startup, which is only 0.5% of GDP per capita. The UK, for its part, finished 6th overall, ahead of every other G7 country, including the US and Germany.