Bucharest–the next hot European digital city? 170 startups say ‘da’. (RU)

It certainly came as a surprise that the second fastest growing economy in the EU is–Romania. Identified in your Editor’s mind with the monstrous dictator Nicolae Ceaușescu, grinding poverty and the lost orphans (who are now lost and underground–see this horrific Daily Mail article), it has a burgeoning tech startup scene and a superior digital infrastructure including the fastest internet in Europe, achieved through a combination of post-Ceaușescu entrepreneurship and state avoidance. The Communist emphasis on what we call STEM also has paid off for both young men and especially for women as techies and developers. There are even accelerators: Innovation Labs and MVP Academy. Where Romania lags versus similarly situated Estonia and Bulgaria is native investment–angel investors are almost unknown. Being also an EU member, most of the best are lured away to attractive opportunities in other countries (including the US) at least for some time. But the low cost of development versus other digital cities like London and Berlin, educated workforce and a robust infrastructure are factors favoring Romania. Hat tip to reader Jerry Kolosky. One of the poorest countries in the EU could be its next tech-startup hub (Quartz) and the Digital City Index. (We note the photo at the top of the Quartz article is Google Chicago, not Bucharest)

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