Abstract

This study examines the transformation of Albania’s startup ecosystem through a statistical analysis of public funding allocations for the years 2024 – 2025, with a special focus on women-led startups. Using official records of grant recipients and data-driven methods in R, the paper investigates sectoral shifts, funding distributions, and the relationship between financing stages and budget allocation.

The analysis reveals a strong positive correlation between funding phase and allocated budget, suggesting a clear trend of higher investment in more mature ventures. Technology-driven sectors – such as EdTech, FinTech, and E-Commerce – received the highest financial support, while traditional sectors like Manufacturing and Logistics showed stagnation or decline. Clustering analysis identified three distinct groups of startups, highlighting differentiated access to resources based on developmental stage.

The findings suggest an increasing digital orientation of the entrepreneurial landscape in Albania, but also point to funding imbalances that may hinder early-stage innovation and rural inclusion. The study concludes with policy recommendations to foster inclusive and balanced growth across sectors and regions, ensuring sustainable support for high-potential startups at all stages.

JEL: O31, O32, L26, M13, O38