Russian tech industry faces ‘brain drain’ as workers escape

mspohr Share a report from the New York Times. In early March, days after Russia invaded Ukraine and began cracking down on dissent at home, Riga Latvian venture capitalist Konstantin Siniusin helped charter two planes from Russia to help people evacuate. Both planes depart from Moscow and carry technical personnel from the Russian capital, as well as from St. Petersburg, Perm, Yekaterinburg and other cities. Together, they flew around 300 software developers, entrepreneurs and other tech professionals abroad. Among them, Mr. It includes 30 Russian workers in a startup supported by Sinishin. The plane flew south over the Black Sea to the Armenian capital of Yerevan, where thousands of other Russian technical workers fled for weeks after the invasion. Thousands have flown to Georgia, Turkey, the United Arab Emirates and other countries that accept Russian citizens without a visa.

Until March 22, the Russian Technology Industry and Trade Group Between 50,000 and 70,000 skilled workers have left the country. And soon an additional 70,000 to 100,000 will follow. They are part of a much larger exodus of Russian workers, but their exodus could have a much more lasting impact on the Russian economy. “The long-term impact may outweigh the short-term,” said Barry Ickes, director of economics at Pennsylvania State University, which specializes in Russian economy. and gas, and to accelerate productivity growth. Technology was the natural way to do that.” Before it all started, Russia had a strong technological base.” [Artem Taganov, founder and chief executive of a Russian start-up called HintEd] said. “Now we have a brain drain that will continue for the next five to ten years.”

Russian tech industry faces ‘brain drain’ as workers escape

Source link Russian tech industry faces ‘brain drain’ as workers escape

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