Despite the Russian aggression, constant terroristic attacks, blackouts, damages of infrastructure, Ukrainians keep working. There are 5 new emerging trends that are worth pointing out, as those trends eventually will lead to recovery of the startup ecosystem and build the basis for the future success.
New types of founders emerge in Ukraine – veteran founders will drive Ukrainian Tech to new heights.
Army and navy veterans that became startup founders are highly valued by VCs in the world. For example, there are numerous cases of Israeli startup founders who served in the army or startups founders from the US Army that founded extremely successful corporations and startups which changed many industries. This is due to many psychological features and discipline they develop in the army. These veteran founders are able to lead their teams to work in a high-stress context, they have a very special attitude toward leadership as they understand they are responsible for people’s lives.
New markets and trends – Military Tech, Energy Storage and Energy production, drones.
Approximately 30% of the territory of Ukraine remains mined. And according to some forecasts, demining may take from 5 to 10 years. This is a new market estimated at 500 billion dollars. Another trend is the shift in energy sources from fossil fuels to different types of alternative energy, both in Ukraine and in the EU. In the long term we will see an incredible surge in the deployment of new clean energy technologies across solar, electric grid, energy storage, batteries, and electric vehicles, and new startups in this area will become extremely successful.
Better integration with world leading venture ecosystems across the globe.
Ukrainians traditionally were active in the international startup arena and now this trend is even bigger. As Ukrainian now are spread all over the world, voluntarily or forcedly, they become even more connected, integrated, and build strong networks of contacts which will be useful even after the war.
Female leadership became more visible.
As men are involved in protecting Ukraine and serving the army, women founders and top managers are taking on a more active role in running businesses, including startups. Women can actively represent the Ukrainian Tech Ecosystem abroad.
Rise of popularity of Ukraine as a new geopolitical center will eventually lead to investments.
European and World Leaders visited Ukraine during the war more often than before at peaceful times. Kyiv bomb shelters have hosted more country leaders and prominent politicians than any top-profile conference locationst
The new research “Russian aggression in Ukraine: How do Ukrainian Startups survive” is finally available for everyone. Key points:
🔹 64% of startups that still operate in Ukraine base their business on the global market
🔹 12% of the surveyed companies closed their operations after the Russian invasion.
🔹 The reasons for the closure of start-ups in Ukraine are diverse. The 4 most common factors that result are loss of sales market in Ukraine, loss of capital resources, no possibilities to go abroad, and no operation capability.
🔹 56% of respondents noted that at least one member of the team is involved in the Armed Forces of Ukraine.
💙💛 The new survey was prepared by the team of the Polish-Ukrainian Startup Bridge in partnership with Warsaw Stock Exchange (GPW) and Ukrainian Startup Fund. Elena Malitskaya, ACCA, (Olena Malytska) shared her expert opinion on trends that evolve in Ukrainian Tech Ecosystem. Find also expert opinion of Sigma Software Labs, ICU, Simpact Ventures, and ISE Accelerator & Venture Capital
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