Margaret Bloom

Eastern Europe Is Working Overtime to Become the Continent’s Silicon Valley

Twenty years ago, it seemed like the skills and money needed to make the most of new technology were something available only to the privileged few. Silicon Valley was the cradle of this new internet and computer-driven civilisation and quickly gained mythical status. The idea of a couple of college dropouts becoming multi-millionaires thanks to some technical know-how and self-written software has long been the dream that drives those looking for success. Today, the reality is that both technology and the knowledge of how to use it have spread rapidly, and in parts of the world that many could not have predicted. Today, Eastern Europe is quickly gaining a reputation as Europe’s potential Silicon Valley. But what exactly is driving this trend?

Eastern Europe Surprised Everyone

One of the most obvious factors is high internet speeds. Many parts of Eastern Europe have speeds far exceeding those of Western cities, thanks in large part to the fact that the technology arrived relatively late. Rather than having to overhaul existing systems and deal with constant signal interference, these places were able to lay down fresh systems with high speeds. As a result, they could enter the information market at a competitive level.

The other key factor is obviously technical know-how. It quickly became clear to programmers in these countries that if they were able to keep up with the trends, they could remain just as qualified as any American or British programmer, while being able to pick up work at far more competitive rates. Romania has rapidly worked towards establishing a reputation as a reliable outsourcing point for tech companies, helped in large part by the number of French corporations already established there. And across the border, Ukraine is working overtime to develop its potential, with entrepreneurs such as Max Polyakov investing in the nation’s budding startups.

In a competitive market, these countries and their neighbours have much to offer. Low overheads and salaries, strong levels of English, fast internet speeds, and qualified workers are all helping to drive the boom. With any luck, we will see far more success here in the near future.

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