Moldova’s government said on August 26 it has approved the creation of the Fund to Support Digital Innovations and Technological Startups, part of efforts to expand the role of the IT sector in the economy and support areas such as artificial intelligence and cybersecurity.

A government statement said the measures would help Moldova harness its growing IT potential while strengthening innovation capacity as the country pursues closer integration with the European Union.

The fund will focus on financing startups and innovation in strategic fields including government technologies, biotechnology, agrotechnology, cloud computing and robotics. It will be financed mainly from external sources.

The new fund will be managed by Moldova IT Park, the country’s flagship tech hub, with project selection and monitoring entrusted to a coordinating committee to ensure transparency, the government said in a statement.

Moldova IT Park, established in 2018, has become one of the country’s most dynamic industries. Its contribution to the national budget reached MDL1.5bn (€76mn) in 2024, up 14% from the previous year. The turnover of its residents climbed to nearly €800mn, with 88% of sales generated on foreign markets.

The park counts 2,154 resident companies from 42 countries, including 288 foreign firms, and employs more than 24,000 people.

The government resolution also introduced a set of reforms aimed at making the IT Park more efficient, such as streamlined administrative mechanisms, updated rules for the Park Council, and digitalisation of registration procedures.