Statement:
In Bulgaria, startup ecosystem seems to be more developed than in Serbia

In the Startup Ecosystem Index rating Bulgaria holds position #36 ²⁰²² out of 99 and Serbia is #52 out of 99 ²⁰²².
Position of Bulgaria is better than position of Serbia.

Referencies:

1. Startup Ecosystem Index ²⁰²² by StartupBlink

   The countries in the rating sorted by 'Total Score' in descending order.

   Bulgaria	'Total Score' value is	5.961
   Serbia	'Total Score' value is	4.289