Reasons to become a part of the Belarusian startup ecosystem
Strong education with emphasis on STEM
Belarus ranks #16 worldwide in Education and #7 in Higher education according to the Global Innovation Index 2021. Nowadays there are 10 universities with specialized STEM faculties, 70+ IT specialties, and around 19,000 STEM graduates each year.
Open-minded people and skilled personnel
Belarus ranks #2 in the world in technological skills according to the 2021 Global Skills Report by Coursera. Belarus holds #7 position in the world by software development skills according to Top Coder ranking.
Competitive labor expenses
Belarus is a competitive outsourcing location for ICT services, considered to be among the lowest costing in Eastern Europe. Belarus is #2 best offshore software development country in Eastern Europe with average rates per hour around $33–$48 according to Daxx.
Birthplace for world-renowned companies
Many world-renowned innovative companies have Belarusian roots, among which are EPAM Systems, the world’s largest software development service provider; Flo women’s health app; Viber messenger; PandaDoc, a unicorn document automation SaaS, etc.
Low tax burden for innovators
Under a special legal regime, the residents of Belarusian Hi-Tech Park (HTP) are exempt from income tax, VAT on sales turnover, customs duties and VAT on goods imported for IT business, and other privileges.
Large IT sector oriented on global markets
Nowadays, there are 3000+ IT companies in Belarus with 70+ thousand employees. The share of the IT sector in Belarus GDP was 7.5% in 2021. 91% of computer and information services produced in Belarus are exported, which accounts for more than 30% of total Belarusian services exports.