Russia is a large market with incredible potential. This is understood by technology giants (for example, the Russian market is one of the main ones for Apple pay) and small startups from neighbouring countries.
If you want to enter this market and become part of a startup ecosystem, you need to understand its structure. We have collected the most important things to start this acquaintance with.
In 2020, 2.8 million enterprises and 6.7 individual entrepreneurs worked in Russia (a type of entrepreneurial activity in which an individual conducts commercial activity with some restrictions and tax benefits). The entire business generated $2.4 trillion in revenue in 11 months of 2020.
This is one of the highest percentages of entrepreneurial activity in Eastern Europe – 7.9% of the economically active population is in business.
Among 9.5M entrepreneurs, 450K are involved in the startup economy of the country (provide services to startups, work in a startup or plan to launch a startup in the next 6 months). Since the last survey (аugust 2019), the audience has grown by 50K members.
The male/female ratio shifted towards the former. The audience of women increased slightly (by 3K), mainly due to the audience of 45+. There are almost 50K more men.
The average participant in a startup ecosystem is a 35-44 year old male (23.7%).
More than half of the people involved in the startup ecosystem (52%) are located in Moscow. In second place – St. Petersburg (8%), both of these cities added, after the last report, by one percent.
In your pocket – except for a Samsung phone with a mobile operator MTS or Megafon. Also a Tinkoff or Raiffeisenbank card.
Political views can be said to be moderate (certainly not liberal). They enjoy reading the blog of Sobyanin (the current mayor of Moscow) and Prokhorov.
Many designated Internet media can easily be entered with a press release under the heading “guest post” and get the attention of the target audience.
They can be seen in the DO coworking spaces, Flacon and the Skolkovo Technopark.
Use the data received from Panoptic Insights in order to better understand the audience of the Russian startup market. We hope that this data will help you decide whether to enter this rich market or not.