Towards the end of last year, we announced TechHub Bucharest as our latest international location. You probably know of the city's beautiful architecture, vibrant culture and thriving arts scene. You may even know that it was home to Prince Vlad III Dracula, or Vlad the Impaler.
What you may be less familiar with is the burgeoning tech startup scene, which is going from strength to strength. To help explain exactly what's been happening, we've picked the five reasons why TechHub, and the startup world as a whole, simply can't ignore Bucharest.
1. Conferences and Meet Ups
How To Web is the largest tech conference in Eastern Europe, and co-founder Bogdan Iordache is also co-founder of TechHub Bucharest. How To Web welcomes over 800 guests each year and, alongside Startup Weekend and Girl Geeks, brings a great spirit of community to the Bucharest tech scene.
2. International Mindset
Inherent in tech companies with big ambitions is the need to scale internationally, and Bucharest has already proven a great breeding ground for international ambitions. English language use in the region is strong, and global corporates like Google, Facebook, Adobe, HP, Microsoft, Dell, Amazon, Oracle, King.com and BitDefender all take advantage of its international appeal. At TechHub Bucharest we're looking to make the most of having such companies around, and there will be opportunities for large companies to get involved there.
Being close to other European tech clusters like Kiev, Ljubljana, Sofia and Warsaw make Bucharest a great location.
4. Low cost
Bucharest has extremely low living costs, which in startup terms translates into everything from salaries to accommodation. Two years ago, the average wage was around �300pm. This has grown recently, but is still nowhere near Western European salaries. Seesmic, Wonga and TVTrip all took advantage, and developed their initial products from Romania.
These low costs, combined with the international mindset, allow for a great opportunity for a startup to bootstrap through to launch.
What good would the community, beauty and affordability be without what really drives tech startups: talent. The quality of education and the cultural work ethic is what attracted the big boys of Facebook and Oracle, and although they snapped up loads of tech talent, there's plenty more out there. Technical skills are strong, and there is a real entrepreneurial mindset embedded in the culture.
Other notable startups to come from Romania have been Brainient, Slickfick and Mavenhut, showcasing what can be done when talented people ignore the lure of a corporate pay-packet.
All these reasons have led to an exciting ecosystem, that by all accounts is only getting stronger. As with all TechHubs, we're looking to not only offer entrepreneurs a great community and coworking space, but also to be a focal point at the heart of the tech scene.
The pricing has been announced too, with Resident membership being �120 per month, and flex �80 per month. For more details, visit the TechHub Bucharest website, or if you're in Bucharest come and see the great location that we've got in this beautiful city.