Moscow, like many of the world’s leading cities including London, is positioning itself as an innovation and tech hub to rival Silicon Valley. While London’s status as a financial centre brings certain obvious advantages, it is the geographical location of Russia as a link between Europe and Asia that may make it an attractive alternative.
The perception, however, of Russia as dangerous, corrupt and a tricky place to do business makes this a difficult sell; a Soviet past of bureaucracy and over-regulation underscores this impression. Even the bait of a top tax rate of only 13 per cent may not be enough to attract investment to the country.
But it won’t be through lack of effort. The country has a deep pool of tech talent of scientists, coders and mathematicians that are only now beginning to get the feel of entrepreneurship and how to run a business. While the Moscow event lasts for just three days, the ‘warm-up’ tour that has built up awareness of Startup Village has covered 21,000 kilometres over the past two months.
This caravanserai has gone through 16 cities across the country to encourage innovation and to see if a startup mentality exists. From Vladivostok on the Pacific Ocean to Siberia’s major city, Novosibirsk, there appears to be a revolution going on in the country; one that turns the previous (and rather better-known) revolution on its head.
