Moscow is one of the twenty European cities most promising for investments in technology, innovation and startups. According to the ranking of Tech Cities of the Future, the capital took 18th place out of 76.
The Tech Cities of the Future 2020/21 ranking was compiled by fDi Intelligence magazine and TNW (The Next Web), a specialized technology and innovation publication this year, for the first time.
“The rating considers 76 European cities, which were evaluated in terms of raising capital, the availability of qualified employees and the development of infrastructure. This year Moscow took 18th place, and in one of the five rating categories, “Startup Ecosystem”, it immediately rose to 10th line, ”said Vladimir Efimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations.
The five leading cities included London, Paris, Dublin, Amsterdam, Berlin. The overall rating was formed on the basis of the results that the cities scored in each of the five categories – Economic Potential, Innovation and Attractiveness, Foreign Direct Investment Level, Startup Ecosystem and Profitability. Additional points were awarded if the city fell into a separate, sixth, category FDI Strategy, formed on the basis of its own fDi Intelligence surveys.
“Every year Moscow is becoming an increasingly attractive city for investment, including in the field of high technology, and successfully competes in this direction with world centers such as, for example, Helsinki or Milan. The city has created a favorable environment for the development of startups and digital platforms. The work on introducing innovative solutions into the city’s life showed its relevance during the time constraint regime, when the demand for obtaining services and goods through online services sharply increased, ”noted the Minister of the Government of Moscow, Head of the Department of Economic Policy and Development Kirill Purtov.
Experts praised the capabilities of the Moscow startup ecosystem. This confirms the achievements of the city in creating conditions for the development of technological entrepreneurship. So says the head of the metropolitan Department of entrepreneurship and innovative development, Alexei Fursin.
“The opportunities offered by the Moscow Innovation Cluster, the“ Moscow Accelerator ”program for scaling up and developing startups, the project for pilot testing innovations at city sites, and other support measures are available to capital startups. They allow ecosystem participants to cooperate, find partners and investors, receive product feedback from consumers, develop their projects and entrepreneurial competencies, and scale the business, ”the head of the department emphasized.
Minister of the Moscow Government, head of the Department of Information Technology Eduard Lysenko added that the basis for success in the digital world are factors such as favorable regulatory regulation, the creation of ecosystems and the support of talented personnel. The inclusion of Moscow in the top 20 of the Tech Cities of the Future 2020/21 rating, as well as its leading positions in other international innovation development rankings, mean that Moscow’s global competitiveness is growing. As the Minister specified, Moscow is not just ready for a digital future, but is one of the cities that define it.
FDi magazine is part of the Financial Times Group and compiles ratings of cities and regions in terms of their future development in the next two years. In addition to Tech Cities of the Future, the publication publishes a comprehensive European Cities and Regions of the Future ranking every two years. In its latest edition, Moscow in the overall standings among the largest cities in Europe was in the top 10.