Entreprise application software market expected to shrink by 40% this year

During the first five months of 2014, the volume of services provided by entrepreneurs and organizations in the information and telecommunications sectors in Ukraine were valued at 28.8 billion hryvnias (approximately $2.42 billion), reports the State Statistics Service of Ukraine. More specifically, telecom companies accounted for services valued at 19.78 billion hryvnias (approximately $1.66 billion), …

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Ukrainian business angels gather in an association

Last week Ukrainian business angels announced the creation of the UAngel local and international association. UAngel will provide access to information on deals, encourage co-investment and organize events and training programs for association members. “This is a super-important element of the startup ecosystem, which Ukraine was indeed missing. Just compare these numbers: in 2012, VCs invested …

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Intel Capital teams up with two Russian funds to back Ukraino-Russian bus ticket software developer

Gill Business Systems (Gillbus), a company that develops inventory distribution systems (IDS) for the bus-transportation industry, has secured $3 million from a consortium of three venture funds – Intel Capital, InVenture Partners and FinSight – at an undisclosed valuation. Launched in Ukraine in 2010, Gillbus aims to make distribution of tickets for buses “as smooth as tickets for airlines.” The company …

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Ukrainian VC ranks the country’s best startups

It’s a year since top Ukrainian venture capitalist Yevgeny Sysoyev produced his first overview of Ukraine’s top-100 startups. A lot has changed since then, and many more people are now familiar with the complicated geography, politics and economics of his country. The Ukrainian startup ecosystem is still comparatively small, with a maximum valuation of just $2.5 billion. However, despite its …

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Contactless payment use grows three-fold in five months in Ukraine

Payment for goods and services using contactless payment cards is gaining popularity in Ukraine. The Ukrainian Processing Center (UPC) has recorded a threefold increase in the turnover and the number of transactions using NFC-supported cards emitted by UPC’s five partnering banks. The average transaction value increased slightly from 48 hryvnias at the end of December …

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Apex VNT Limited acquires 10% of Ukrainian IT-outsourcing firm Epsy Soft

Apex VNT Limited, an international venture fund with offices in London and Kiev, has completed its first investment in the Ukrainian market, acquiring 10% of IT-outsourcing firm Epsy Soft for 2.3 million hryvnias (approximately $195,000). In commenting on the deal, Apex VNT PR director Dmitry Chepur told Ukraine Digital News that this is merely their first move into …

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Ukrainian IT students and alumni rank universities – and reveal appalling corruption

DOU.UA, a leading online community of IT programmers, has published a ranking of Ukrainian IT universities based on a survey of their graduates and students. The strengths and weaknesses of each university were evaluated based on their overall image, knowledge capacity and usefulness. More than 2,800 people participated in the survey, with 60% of these …

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Report: Ukraine now counts 7.5 million broadband Internet subscribers

The number of broadband subscribers in Ukraine exceeded 7.49 million in the first quarter of 2014, up 0.7% compared to Q4 2013, according to Russian consultancy iKS-Consulting. Broadband ISP revenue in the country exceeded 1.472 billion hryvnias in the first quarter of 2014. At the same time, according to the consultancy, the dynamics of broadband …

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New Ukraine-made mobile game downloaded 1 million times in the first week

Many of you might know the Ukrainian game development industry by its recent hits, including Assassin’s Creed, the Star Wars series, Crysis, Metro 2033, S.T.A.L.K.E.R., Warface and World of Tanks – which were all fully or partly developed in Ukraine. Launched on May 15, ZADZEN’s Elements: Epic Heroes is the latest in this series of …

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Russia still dominates Ukraine’s money transfer market

Russian money-transfer service Zolotaya Korona (Golden Crown) has displaced Western Union as the most-popular option for sending money to Ukraine, according to Elena Makhaeva, who heads the department tasked with overseeing money-transfer services for the National Bank of Ukraine (NBU). Zolotaya Korona and Western Union together own more than half of the Ukrainian money-transfer market, …

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Almost a third of Ukrainian users access the Internet via mobile devices

According to Yandex.Metrika, the share of unique visitors in Ukraine who access websites from smartphones or tablets grew by 11 points to 29% between August 2013 and April 2014. However, so far mobile Internet users are less active than those who use computers for Internet access, so the share of tablets and smartphones accounts for …

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