Moldova: A Must-Watch on the CEE Startup Landscape

TLDR: Moldova, a small Eastern European nation, is quietly emerging as a hub for startups and investors. The country has gained independence from the Soviet Union in 1991 and has since focused on rebuilding and prospering. Moldova has seen a surge in foreign direct investment (FDI), reaching $264 million in 2021, up from $83 million in 2016. The country’s tech startup ecosystem is supported by the Moldova Innovation Technology Park (MITP), which provides startups with access to a skilled workforce, competitive labor costs, favorable visa options, and low taxes. Moldovan startups are increasingly collaborating with neighboring Romania to access the broader European market. The Moldovan startup scene has grown in recent years, with 82 startups currently listed in the Startup Moldova database. In 2022, 11 Moldovan tech startups raised a total of $11 million in funding, with participation from both local and international investors. The startup ecosystem in Moldova is supported by business angel groups, organizations, and CEE venture capital firms. The country also has a pool of more than 20,700 IT professionals, and initiatives such as conferences, incubators, and mentorship programs support the startup environment.