How Romania has become Europe's latest tech hub

Romania is gearing up to be world-class tech hub, but how has it achieved this position and what does the future hold?

Romania is vying to become a world-class technology hub. With a well-educated tech workforce, a history of academic computer research and a solid outsourcing industry, the nation is well-placed to thrive in the competitive global tech eco-system. 

The country has produced a slew of global tech success stories, from automation specialists UiPath, to cybersecurity company Bitdefender, and has attracted investment from top US businesses such as Oracle, IBM and Facebook. 

A surge of start-up activity is taking off in cities across the nation leading to a boom in Romania's tech industry and a tight labour market, says Vargha Moayed, chief strategy officer at UiPath. 

"Increasingly the Romanian talent pool has gone up the value chain, so today we find people who have participated in start-ups, who have seen the entire cycle of an IT product from conception to release to deployment, so the talent pool has improved and so has their expectation in terms of compensation."

Near zero unemployment in IT has led big tech companies with centres in Romania to bring in talent from Ukraine and Moldova. "The local talent pool is maxed out," he adds. 

However, the country lacks some important ingredients for becoming a tech hub. There is a paucity of general strategic business skills to drive global success. Some of its infrastructure, such as transport and roads, needs improving, corruption is problematic while funding to boost its start-up scene is relatively scarce. 

Moayed, a Canadian citizen who moved to Bucharest four years ago, says the lack of general business expertise means Romanian companies are forced to head abroad to expand. 

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