Moscow entered the top 15 ranking of innovative cities in Europe

MOSCOW (TASS) -- Moscow improved its position in the international Tech Cities of the Future rating of the fDi Intelligence analytical agency, moving up four lines and taking 14th place among 76 cities in Europe, according to the information made avaialble on the official web site of the mayor and the city administration on Tuesday.

Moscow managed to improve its indicators relative to other European cities.--Photo Tass

The rating evaluates the cities that have created the most favourable conditions for the development of startups and investments in technology and innovation. The assessment consists of calculating statistical indicators for five key factors economic potential, ecosystem of startups, attractiveness of innovations, economic costs, investments.
At the top of the list are London, Paris and Dublin. “Technological entrepreneurship is a promising area for Moscow. Already now it makes a great contribution to the economy, and its share will grow.
The city’s policy in this area is aimed at realising our potential, supporting existing innovative projects and startups. Business can use different resources for development  the opportunities of the Moscow innovation cluster and technology parks, grants and subsidies, accelerators, technology competitions and educational programs,” said the Deputy Moscow Mayor Natalya Sergunina.
According to her, according to the Startup Ecosystem indicator, the Russian capital entered the Top 10 of the rating, taking the 6th place in this section. In addition, the experts considered such indicators as “Innovation and Attractiveness”, “Economic Potential”, “Efficiency of Foreign Direct Investment” and “Economic Efficiency”. The maximum number of points in each category is 10.
“Even in an epidemiologically difficult year, Moscow managed to improve its indicators relative to other European cities. Moscow has created support measures for business, for example, the provision of land plots for the construction of industrial enterprises within the framework of large-scale investment projects.
land for rent without bidding. The total investment in the development of new industries will exceed 7 bln rubles. The successful implementation of all large-scale investment projects will give the city more than 1,200 new jobs.
Technoparks, a meat processing plant, the production of percussion instruments, an instrument-making complex will appear in the capital,” said the Deputy Moscow Mayor for Economic Policy and Property and Land Relations Vladimir Efimov.
He added that the strategy of attracting investments is being assessed separately for all cities.
Over the past 10 years, investments in fixed assets in the capital have grown in comparable prices by almost 2.7 times. All in all, Moscow accounts for almost 18 percent of the total Russian investment in fixed assets and about half of Russia’s direct foreign investment.
Moscow entered the Top 10 in terms of investment attraction strategy and ranked 6th. “Foreign investors come to Moscow from Europe and Asia, as well as from the United States.
They are attracted by the city’s favourable business climate, developed infrastructure, and the availability of highly qualified personnel. In addition, foreign investors can receive support from Moscow along with Russian entrepreneurs. According to the latest data, as of January 1, 2021, the volume of accumulated foreign direct investment from Germany amounted to US$7.4 bln, from France - US$ 4.6 bln, from Finland - US$ 4.1 bln,” said the head of the Moscow Investment and Industrial Policy Department Alexander Prokhorov.

(Latest Update August 19, 2021)