Data & reports

At $7.3 billion, Ukraine’s IT service export reached an all-time record in 2022

The resilience of Ukraine’s IT industry amid the war last year, which struck observers, has just been confirmed by official data. While the country’s GDP fell by some 30%, IT service export reached a record $7.34 billion, up $400 million from 2021, according to central bank statistics cited by the IT Ukraine association.  “Such positive industry indicators …

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Survey: 12% of Ukrainian startups shut down, 30% moved abroad at least partially during the war

Much has been said about the “resilience” of the Ukrainian tech sector amid the war (example), but what do entrepreneurs themselves say about the challenges they have faced since Feb. 2022?  Teaming up with the Ukrainian Startup Fund, the Polish-Ukrainian Startup Bridge conducted a survey about these “challenges that no entrepreneur can predict and which …

Survey: 12% of Ukrainian startups shut down, 30% moved abroad at least partially during the war Read More

Report: VC investment in CEE has doubled since 2020; Ukrainian startups show “incredible resilience”

Earlier this month Dealroom released the third edition of its annual report on Central and Eastern European (CEE) startups. Its main findings are as follows:  CEE has shown resilience through uncertain market conditions — Combined venture capital investment in CEE has doubled since 2020. The region is on track to break its yearly venture capital investment record and raise €6.2 billion. CEE …

Report: VC investment in CEE has doubled since 2020; Ukrainian startups show “incredible resilience” Read More

Report: War spurs crypto activity in Ukraine

Since late February 2022, the Russian invasion of Ukraine affected all aspects of life in the two nations. Their populations have felt the war’s economic impact, including on cryptocurrency, as analysed in a recent report by Chainalysis.  Shortly after the war began, cryptocurrency transfers increased in Ukraine and steadily rose through June. In March, right after the war …

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Report: Ukraine IT companies gradually switch to remote work or relocate essentially within the country

In July 2022, IT Ukraine Association teamed up with the Sayenko Kharenko law firm to conduct a research on the relocation trends among Ukrainian IT companies. Among the surveyed companies were essentially those employing from 50 to 200 IT professionals (28%) and from 200 to 1,200 (42%).  While no details on the methodology are provided by the …

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While Ukrainian startups demonstrate their resilience, VCs keep investing in Central and Eastern Europe

“Despite the ongoing conflict in the region, international VCs are more interested than ever in CEE startups,” notes Sifted, an online publication covering the European startup scene. The war has not stopped the surge of investment that the region has seen for the past two years. On the contrary: “while experts have predicted that the …

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The Current Wave: New breed of Ukrainian tech entrepreneurs seek success in global markets, Part 5

Ukraine’s start-up scene remains resilient, but needs support

Ukraine’s start-up scene continues to show remarkable resilience despite the ongoing Russian invasion of the country, although almost half now admit to having real concerns about their ability to continue operations at their current level without revenue, new investment, or financial support. In a major new survey carried out by Emerging Europe and Tech Emerging …

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Report: Ukrainian IT sector demonstrates resilience and growth despite Russian invasion

Since 2016, industry association Lviv IT Cluster has published an annual report on industry trends in this tech-friendly region of western Ukraine. This year, the research aims to reflect the key evolutions Ukrainian IT industry in wartime nationwide. While more than 5,000 respondents were surveyed in the Lviv, Ivano-Frankivsk, Rivne, Ternopil, Volyn, Chernivtsi and Zakarpattia regions, the …

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At $6.40 per month, Ukraine has the cheapest Internet in the world

Ukraine has the cheapest fixed-line broadband internet globally at $6.40 per month, according to a TradingPlatforms.com data presentation. Tariffs in Moldova, Russia, Belarus and Kazakhstan are also among the lowest globally.   “Ukraine’s mobile and fixed broadband infrastructure is excellent, allowing internet providers to avail large data amounts at a lower average internet cost. This means that Ukrainians can enjoy …

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Ukrainian IT service export slowed down but still grew in three first months of war

Central bank statistics published last month have confirmed the relative resilience of the Ukrainian IT services sector in wartime. The contribution of the country’s IT companies to National Bank’s foreign currency incomes reached $3.18 billion for the first five months of this year — including March, April and May, when Ukraine was already struggling against de Russian …

Ukrainian IT service export slowed down but still grew in three first months of war Read More

Report: How Ukraine’s tech companies adapt to war time after breaking records in funding in 2021

AVentures Capital, one of Ukraine’s top venture firms, has just released a new edition of its Dealbook of Ukraine. Each year, this publication offers an overview of the deals and trends involving Ukrainian and Ukrainian-founded tech companies. A “record high VC and PE volume” is reported for 2021, with more than $830 million invested in …

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Russian is the social-media language of choice for Ukrainians

Data collected on Instagram shows that 50% of Ukrainian users post in Russian, 46% in Ukrainian, and 4% in English, according to researcher Sven Etienne Peterson. This is despite the fact that only 30% of Ukrainians reported Russian to be their native language, with a higher percentage in eastern and southern districts. Meanwhile, 67% reported Ukrainian as their …

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