The Startup Ecosystem of Belarus

Belarus is an example of a country that once had massive potential for success in both global and regional terms. The local IT industry boasts high-quality local developers and IT professionals, as well as historically smart ecosystem development policies. Minsk is the most active startup ecosystem in Belarus and is home to TechMinsk, an accelerator partnered with Google Launchpad.
However, the country’s success is now a thing of the past. Recent years have brought political instability and further international isolation following the war in Ukraine, which creates extremely difficult conditions for local entrepreneurs. As a result, Belarus now has a massive gap between its true potential and current performance, intensified with an exodus of its most talented IT people to other countries in Europe where they are happily received.
As many Belarus-originated companies are now headquartered in other European countries, the majority of startups left in the country are at the pre-seed and seed stage. It will take years for local ecosystems to recover and grow. First, the country will need to regain the trust and investment from foreign VCs, which is unlikely under current conditions. Second, the country will need to convince its talented workers to return home. And third, new policies will be needed to help entrepreneurs keep their headquarters in Belarus and view the country as a potential market. The future of the local startup ecosystem and its viability as an economic engine greatly depends on how the country’s geo-political situation evolves. Belarus is a valuable case study showcasing the massive decline of an ecosystem that had all the power to continue improving.