The Startup Ecosystem of Moldova

Much of Moldova’s population speaks either Romanian or Russian, which allows local entrepreneurs to expand internationally. With limited resources to spend on support initiatives, the public sector has managed to establish seven Free Economic Zones and eight Industrial Parks, on top of tax incentives and free trade agreements with several countries. When it comes to tech infrastructure and digitalization, Moldova is catching up. The nation now boasts the Moldova Innovation Technology Park (MITP) as well as platforms such as Invest Moldova that are meant to inform and catalyze startup ecosystem stakeholders. Residents of the MITP can now access an IT VISA, allowing IT specialists to work and live in the country, on top of various tax benefits.

With the active support of Startup Moldova, the ecosystem is coming together with more resources and investment. The country is also advancing on the visibility front with events such as the Startup Moldova Summit that have attracted the attention of global investors. According to the organization, 11 startups have raised 11 mil EUR in 2022 at the event, signaling a sharp growth in the ecosystem’s funding.

Every founder counts, and Moldova should do its best to avoid losing too many of its brightest minds to countries that offer more opportunities. While it’s too early to talk about a unicorn in Moldova, startups like Planable and Fagura are managing to scale in spite of being located in a small startup ecosystem. Moldova has some great prospects for the future, and it seems that more reforms are on the way as the country signaled its wish to enter the EU.