There is no local VC for example in Eastern Europe at all. There are no people understanding technology AND having money. Really almost zero. Lots and lots of talent is wasted. This is not an efficient market at all. Anyone can read all the startup advice on the internet from anywhere in the world. But at most part of the world, the only option is bootstrapping. And I think it is not an efficient market even in the Sillicon Valley. You are funded with a lot of money or no money at all even there. If individuals could fund you with any small amount (like on the stock exchange) it would be an efficient market like the stock exchange, which is incredibly efficient. (I am in an Eastern Europian country, and I can buy stocks of a big American company for $10 if I want anytime 24/7. This is efficient market I must say.)
I'm from Eastern Europe (Lithuania) and there are local VCs here. Here in Lithuania we are constantly attacked with startup event's: BarCamps, Open Coffee Clubs, competitions that tries to find out those talents and etc. I'm ignoring them actually but for my own reasons.
As far as I know Poland is place to look if you need bigger money. If money really is the only reason not to make your own startup.
Here in Hungary I don't know about any VC which would consider funding small software startups with realistic terms or would have the competency to understand this market. (An if I don't know about them that means they are incredibly incompetent marketing themselves on the internet, which simply means they are incompetent.)
I am bootstrapping anyway. I just mentioned that it would be a bit easier if funding would be a more efficient market. And it would be a cool thing not only for startups but also for people who are not professional investors and would want to invest directly into startups only small amounts.
