Rising Tech Stars: Eastern Europe’s Innovation Powerhouses
It is not new news that Eastern Europe has rapidly been advancing on the global platform as a tech powerhouse and region, with specific focus drawn to Georgia, Armenia, Moldova and Ukraine leading this charge. Each country showcases significant growth and innovation, propelled by certain “ingredients” that which combined have accumulated to their successes and advancement as tech hubs. Those being; government initiatives, strong educational systems (with historically strong focus on hard sciences) and a culture which embraces technology and innovation.
Here is a condensed overview from an article by our SocialLab team on this topic:
- Georgia: Boasts a tech sector growth of 49.9% in GDP contributions from 2021 to 2022, driven in large part by the strategic initiatives like “Innovative Georgia 2020” and a thriving startup ecosystem supported by GITA and international organisations.
- Armenia: A legacy of Soviet-era science and technology has paved the way for a booming tech industry, growing by over 30% in recent years. Government policies post-2018’s “Velvet Revolution” and a strong emphasis on STEM education have attracted global tech firms, and nurtured a growing pool of local and international tech talent.
- Moldova: The ICT sector contributes over 10% of GDP, with significant growth fuelled by the Moldova Innovation Technology Park (MITP). Government support and digital government initiatives are propelling Moldova forward as a tech hub.
- Ukraine: Despite the invasion, the tech sector grew by 7% in 2022, maintaining most of its contracts and increasing exports. Steps toward digitalising state services and a history of robust STEM education underscore Ukraine’s resilience and innovation.
SocialLab’s Mission:
Our team is on a “quest” so to speak, to connect with innovators, entrepreneurs and tech visionaries across Eastern Europe. We are looking to collaborate and unlock new opportunities in these fast developing tech hubs. If you are working in or are interested in setting yourself or your company to be at the forefront of AI and tech innovation in Georgia, Armenia, Moldova, or Ukraine, we are eager to hear from you!
Reach out to me directly at nare.hakobyan@sociallab.ai or at partnerships@sociallab.ai
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