Data & reports - Ukraine Digital News

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

January 31, 2023 February 3, 2023

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

December 28, 2022 December 28, 2022

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 …

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

November 24, 2022 November 29, 2022

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 …

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Report: War spurs crypto activity in Ukraine

October 18, 2022 October 18, 2022

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

September 5, 2022 January 31, 2023

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

August 29, 2022 August 28, 2022

“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

August 16, 2022 August 17, 2022

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

August 1, 2022 August 3, 2022

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

July 20, 2022 July 20, 2022

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

July 4, 2022 July 7, 2022

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 …

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

May 13, 2022 May 19, 2022

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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