F/MS Top Startup Cities

5 min read

Chisinau, Moldova #535

City Scores

City Total Score

0.33

Overall ranking score

Quality Score

0.03

Ecosystem quality rating

Quantity Score

0.07

Ecosystem size rating

Business Score

0.23

Business environment rating

Score Distribution

Score Comparison

MeanCEO Index Click to scroll to details

57

Startup Ecosystem in Chișinău 🚀

TL;DR

Chișinău ranks as the 535th city in the Global F/MS “Best Cities for Startups” Index. Often overlooked, the capital of Moldova is emerging as a startup-friendly hub with a supportive ecosystem for innovation and entrepreneurship.

Startup-Friendly Stuff 📈

1. Ease of Company Registration

  • Business Registration: Registration processes are relatively simple, allowing for quick establishment of companies.
  • Startup Incentives: The government offers special conditions and incentives, particularly for IT companies and tech startups.

2. Employment Law 🏢

  • Labor Regulations: Employment laws are developed but may seem complex to navigate for new startups.
  • Hiring Foreign Talent: While there are regulations, the process for obtaining work permits for foreign workers is becoming more efficient.

3. Taxation 💰

  • Corporate Tax Rate: The corporate tax rate is generally around 12%, with possibilities for reductions in specific sectors.
  • VAT Regulations: Standard VAT rate is 20%, but startups in tech might benefit from favorable regulations.

4. Quality of Life 🌆

  • Living Standards: Chișinău offers a lower cost of living compared to Western Europe, making it attractive for startup teams.
  • Culture and Leisure: A blend of historical and modern attractions, with parks, local markets, and cultural events enriching lifestyle options.

5. Bureaucracy 🗂️

  • Ease of Navigation: Bureaucratic processes can be slower, but recent reforms aim to streamline procedures for startups.
  • Government Support: Initiatives and policies are in place to foster innovation, albeit with room for improvement.

6. Visas for Entrepreneurs 🌍

  • Startup Visas & Permits: Programs are being developed for foreign entrepreneurs to facilitate easy access.
  • Residency Options: Certain pathways for residency exist for qualifying startups, making it feasible for foreign business owners.

Startup Community 🤝

7. Networking Events

  • A growing calendar of tech meetups, hackathons, and startup competitions helps cultivate a vibrant entrepreneurial community.
  • Annual events attract local and international stakeholders to foster collaboration and investment.

8. Subsidies and Funding 💵

  • There are emerging public and private funding initiatives aimed at nurturing local tech startups.
  • Incubator programs are available that offer seed funding and mentoring.

9. Venture Capital (VC) Presence

  • Investments: The VC landscape is evolving, with increased interest from both local and foreign investors.
  • Major Firms: Startups can look for investments from a handful of emerging local funds focused on various industries.

10. Incubators & Accelerators 🚀

  • Chișinău hosts several incubators and accelerators dedicated to supporting tech innovations, providing mentorship, and facilitating networking.
  • Notable programs assist startups in scaling and securing investment.

Technology & Industry Priorities 🔧

  • Focus Areas: Emerging strengths in IT, AgriTech, Fintech, and E-commerce.
  • Government Initiatives: Focus on digitization and IT growth as key drivers for economic development.

Business Culture 🏙️

  • Language: Romanian is the primary language; Russian and English are also widely spoken in business settings.
  • Work Environment: Collaborative and forward-thinking, with a strong emphasis on creative problem-solving and innovation.

General Pros and Cons ⚖️

Pros:

  • Low cost of living compared to many European capitals.
  • Supportive government policies geared towards tech and innovation.
  • An engaged international community, fostering networking opportunities.

Cons:

  • Bureaucratic inefficiencies still exist; patience may be required.
  • The startup culture is still in its formative stages, compared to more established ecosystems.

Initiatives for Female Entrepreneurs 👩‍💼

  • Increasing support networks and initiatives specifically aimed at fostering women-led startups.
  • Numerous events and funding competitions target female entrepreneurs looking to make their mark.

Chișinău offers a unique and promising environment for startups, with a supportive ecosystem and potential for growth in the heart of Moldova. 🚀

MeanCEO Index for Chișinău 🚀

Chișinău is emerging as an attractive startup hub in Moldova, but how does it fare for female entrepreneurs? Let’s break down the MeanCEO Index score based on ten critical factors that influence the entrepreneurial landscape.

1. Weather ☀️

  • Score: 5/10
    • Chișinău experiences a continental climate with cold winters and warm summers. While there are sunny days, the climate can be a mix, impacting outdoor networking opportunities.

2. Location ⚓

  • Score: 4/10
    • While not directly on the coast, Moldova is landlocked. However, there are rivers and beautiful landscapes nearby, though access to warm beaches isn’t available.

3. Women Friendly 👩‍💼

  • Score: 6/10
    • Moldova is making strides in gender equality, but deep-rooted cultural norms can present challenges. There are emerging support networks for women in business, leading to gradual improvement.

4. Foreigners Friendly 🌍

  • Score: 7/10
    • Chișinău is friendly towards foreigners, especially women, with locals showing curiosity and warmth. The growing expatriate community helps facilitate connections.

5. English as a Business Language 📚

  • Score: 6/10
    • While English is increasingly spoken in business circles, it is not yet universally fluent, potentially causing barriers for non-Romanian speakers.

6. Delicious Cuisine 🍷

  • Score: 7/10
    • Moldovan cuisine is hearty and relies on fresh ingredients, with local wines gaining recognition. However, onions feature prominently, which may detract from the score.

7. Ease of Getting Married and Starting a Family 💍

  • Score: 5/10
    • While there are cultural activities and social interactions that foster relationships, societal expectations surrounding marriage can be constraining for some women.

8. Medicine 🏥

  • Score: 6/10
    • Healthcare access is reasonable, but while appointments can often be booked, wait times may vary. Costs are generally low, but quality can differ among facilities.

9. Ease of Transportation & Traveling 🚍

  • Score: 6/10
    • Public transport is developing, and while there are taxi services, the overall infrastructure might not be as robust as in other European capitals. The international airport serves as a critical connection point.

10. Startup Mindset 💡

  • Score: 7/10
    • Chișinău is fostering a growing startup culture that embraces innovation but still has a long way to go. While failures are increasingly viewed as learning experiences, the mindset is still shaping.

MeanCEO Index Score: 57/100 🎉

Chișinău presents a budding environment for female entrepreneurs, with promising features like lower living costs and an emerging startup ecosystem. While challenges exist—particularly in cultural perceptions and language barriers—the city’s potential for growth and community support make it an appealing spot for women looking to launch and grow their businesses.

Here’s to the entrepreneurial spirit in Chișinău! 🚀