Ukraine is becoming more and more significant on the world IT market. Economic conditions that are seemingly far from best don’t stop Ukrainian tech talents from discovering, designing, building and marketing successful startups.
These projects have already affected the Silicon Valley. However, IT experts say that it’s only the beginning of the Ukrainian technological blossoming.
Ukraine Is the Land of Startups
Ukrainian business might have seen better days, but the IT sector stays untouched by the economic conditions and produces an enormous amount of relevant and cutting-edge projects. Here are the main reasons for this:
- Foreign investments;
- Technical base;
- Foreign business acquisition.
Let’s consider in detail how the Information Technology segment in this country not only keeps its head above the water but also manages to remain competitive and gain potential.
Foreign Investment In Ukraine
One of the main reasons Ukrainian companies can withstand the fierce competition in the market is external funding.
As the government doesn’t provide enough financial support, startups strive to draw the attention from abroad, and they quite succeed. The foreign investment volume has never been higher than it is now. For instance, just in 2017 Ukrainian IT-companies encouraged $259 million of investments. And the upward trend persists for 2018 as well.
Ukrainian Strong Technical Education Base
The IT experts believe that Ukraine is a decent platform for young talents to learn the modern technologies and use this knowledge in their career. The Ukrainian IT-industry is surprisingly stable despite the shaking economy of the country. High salaries and world standards are due to the private incubators popular in Ukraine nowadays.
Private funding makes Ukrainian IT a self-contained scope. This way passion-driven and talented IT professionals in Ukraine get all the needed conditions to concentrate on boosting the technological progress. The favorable working environment attracts experts of the blockchain, IoT, BigData and other trending IT-industries nowadays.
Business Acquisition by Foreign in Ukraine
Ukrainian startups tend to orientate the marketing aspects to foreign acquisition, and this is quite a reasonable decision. Just in 2017 Ukraine exported $3.6 billion worth of IT-services. This figure is expected to grow by 20-30% this year.
It creates an immense demand for the swift development of viable and functional products for further support from abroad. The cross-border mergers and acquisitions allow beholding the true agile startup methodology in all its glory in Ukraine.
Best Ukrainian Startups by 2018
Quartz predicts that 2018 will be the year of record ICO and IPO investments. Have a look at the recent data:
The 2018 data represents investments for the first half of the year! Startups and blockchain ICOs have attracted enormous investor attention and interest.
With that being said, let’s discover the fastest growing and most successful startups in Ukraine as of 2018 and find out how they paved their way to the top.
Cargofy is considered by Inc as one the swiftest expanding startups in the USA. Cargofy provides the AI software for cargo delivery optimizations. Its business model is similar to Uber. Cargofy connects truck drivers with customers needing delivery.
This startup offers an alternative to the doorbell and overall house security system. The analog video doorbells, security cams, and accessories for them are Ring’s specialty. Amazon has acquired Ring – believe it or not – for $1 billion! Without a doubt, they did it for a reason. The fresh perspective into community crime reduction is worth it.
Superorder is a cryptocurrency trading strategy builder. In a nutshell, it’s a platform for trading automation. Superorder addresses the issue of cryptocurrency trade streamline. SMRK has funded this startup half a million dollars.
This application monitors your everyday desktop and web activity, keeps track of your surfing and working habits and provides real-time feedback on your efficiency. Y-Productive received the Product of the Day achievement on ProductHunt in July 2018.
It’s a coding freelance platform. Coding Ninjas ensure the developer expertise by examining them before the acceptance into the community. The automated task assignment and optimized logistic algorithms helped Coding Ninjas to qualify for Y-Combinator.
Noplag is a cutting-edge online plagiarism checker startup with complex algorithms and swift performance. The giant community with a literally unlimited range of custom files and libraries was supported by the Starta Accelerator funding program and a $130 thousand investment, which has definitely paid off.
UniExo is a robotic exoskeleton device startup. These modular wearable appliances help to overcome a range of physical disabilities and restore various motor functions. Y-Combinator, an American seed accelerator, has accepted the UniExo and now is funding it.
Discoperi is considered one of the most innovative automotive startups. The company offers a device for tracking, analyzing and monetizing the data it collects during your drive. Driving safety and comfortably, accident prevention – all these aspects make Discoperi a competitive startup. Blockchain and BigData technologies make these devices truly cutting-edge. That’s why the attention Discoperi received at the Las Vegas CES is well-deserved.
The Bottom Line
Ukraine is gradually conquering the startup stage by becoming more and more relevant, professional, and experienced. It’s an excellent time to jump into the startup flow and become a part of the Ukrainian technological revolution. If you decide to start a business, it’s essential to implement the extensive expertise of the IT professionals. DNA325 is an expert in consulting, recruitment and R&D scope. We use our 10+ year experience of comprehensive strategic management to plan, set and launch successful international companies in Ukraine and Eastern Europe. Whether you seek for startup streamlining, office opening in Ukraine or just need operational assistance, DNA 325 is at your service!