Belarus Moves 10 Positions Down In List Of Top 100 Countries For Startups

Most Belarusian startups are now based out of the country.

In a new ranking of the world's top 100 countries with the best conditions for startups, Belarus has moved from 70th to 80th place. StartupBlink publishes the Global Startup Ecosystem Index - 2023.

The top three in the ranking are the USA, the UK and Israel. Of our immediate neighbours: Lithuania is in 17th place, Russia is 29th, Poland is 33rd, Latvia is 39th and Ukraine is 49th.

According to the authors of the study, in 2022, there were no deals with investments in startups in Belarus, while in 2020 and 2021 there were three deals with investments of $500 thousand and $2.48 million, respectively.

Regarding Belarus, the study says that most Belarusian startups are now based outside the country. And those that are in the country are projects in the early stages, they cannot attract serious investment.

In Belarus there is a large gap between the true potential and current results, which is exacerbated by the outflow of its brightest IT-specialists to other countries in Europe," the authors of the rating note.

Previously, CIVITTA analysts assessed the startup ecosystem in Belarus and concluded that in 2022, their number in the country decreased for the first time in seven years.

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