Online guide to the Russian tech market
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WHY RUSSIA

SUCCESS STORIES

Thanks to Russia's most famous tech companies, including Mail.ru, Yandex, Kaspersky Lab, Parallels and Qiwi, the world knows that Russia can produce great global businesses. More recently e-commerce startups have grabbed the world's attention, as they seek to capitalise on the rapid spread of the internet in Russia. However, there is much more to the Russian startup sector than just copycat online retailers - here are some of the best projects.


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GREAT POTENTIAL

With 64 million monthly users, Russia now has comfortably the largest internet audience in Europe. And as this corresponds to just 55% of the total adult population, there is still plenty of room for growth, especially in Russia's regions. 


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RUSSIANS CAN DO BUSINESS

There is a widely held stereotype that Russians are great at tech but hopeless at business. While this might match some founders, there are signs that a new generation of talented entrepreneurs is appearing, while the public and government's attitudes towards entrepreneurialism is becoming more favourable. And there is no reason why Russians shouldn't make great entrepreneurs - they actually ranked pretty highly in the Founder Institutes international entrepreneurship rankings, prompting Adeo Ressi to say "I think Russian entrepreneurs are great!" 


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E-COMMERCE

The Russian e-commerce sector has attracted a lot of attention from investors inside and outside of Russia, with Ozon, Lamoda and KupiVIP raising big investment rounds. More recently foreign retailers have also entered a market that still has significant room for growth. 


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HUMAN CAPITAL

Russian science has suffered over the past two decades, with low salaries, poor facilities and a lack of funding prompting many talented scientists to emigrate. However, Russia still has some of the world's brightest technical minds, and the government and corporations are starting to do more to keep them in the country.


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NOT JUST MOSCOW

While most of the venture community is based in Moscow, many of Russia's best ideas come from other cities. In recent years the startup infrastructure has improved dramatically, with technoparks thriving in Kazan and Novosibirsk, and the Russian Startup Tour giving bright entrepreneurs from all over the country the chance to access investors and mentors.


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