Startup Moldova Foundation Releases 2023 Annual Report
Chisinau, Moldova – May 16, 2024 – The Startup Moldova Foundation has released its Annual Report for 2023, showcasing a year marked by significant growth, strategic partnerships, and impactful projects. The report highlights key achievements, including a substantial increase in team size, major funding for digital transformation initiatives, and robust support for the startup ecosystem.
In 2023, Startup Moldova expanded its team from 3 to 10 full-time employees, enabling enhanced operational capabilities. The foundation launched the "Digital Impact for Cahul" project with a grant budget of 7.8 million MDL, supported by the EU Delegation, Sweden, and ATIC. Additionally, 11 Moldovan tech startups secured $11 million from foreign venture capital firms and 550,000 EUR from the Mozaic business angel community. In total, 250 startup ideas and teams were tracked, with over 90 deemed investable, and 22% of these startups are women-owned.
“Looking ahead, we want to give even more to our startups. We will make sure they have everything they need to succeed, here in Moldova and around the world”,
said Olga Melniciuc, CEO of Startup Moldova.
The foundation’s activities in 2023 included hosting 16 offline and 3 online events, such as the Startup Moldova Summit and the Energy Tech Forum, fostering community engagement and international collaboration. The foundation also participated in key international events like the Web Summit in Lisbon and How to Web in Bucharest, enhancing Moldova's visibility on the global stage.
Strategic partnerships played a crucial role, with core funding from USAID, Sweden, and UK Aid through the Future Technologies Activities program. The foundation also emphasized mentorship, offering over 140 hours of guidance to more than 40 startups, and engaging in advocacy to improve the business environment for entrepreneurs. The Moldova Innovation Technology Park framework provided a supportive environment for business growth and innovation, offering tax incentives through single 7% flat tax and infrastructure support to startups and tech companies, further strengthening Moldova's position as a competitive destination for business and innovation.
Looking forward to 2024, Startup Moldova aims to attract more investments, establish the Startup Moldova Fund, and increase the global presence of Moldovan startups. The foundation will continue to enhance community support and advocate for a conducive business environment.
Doina Guzun
Communication Officer Startup Moldova
communications@startupmoldova.digital
About Startup Moldova Foundation:
The Startup Moldova Foundation is dedicated to fostering innovation, entrepreneurship, and digital transformation in the Republic of Moldova. By providing resources, support, and opportunities, the foundation empowers startups and entrepreneurs, contributing to the nation's economic growth and prosperity. Committed to community, investment, visibility, and advocacy, Startup Moldova is helping Moldovan entrepreneurs succeed globally.
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