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.
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.