Development of the Startup Industry in Ukraine: Status, Challenges, Perspectives

Abstract

The article notes the importance of the development of the startup industry and the achievements of Ukrainian startups in various fields: from IT and blockchain to agricultural technologies and medicine. High rates of development of the IT sector of Ukraine were noted, with numerous successful examples of companies that attracted millions of dollars of investment. The authors substantiated the main components of startup design. The important characteristics of a startup business idea are described. The main aspects that must be taken into account in the process of searching and generating a business idea for a startup have been determined. It is justified that investors are looking not just for business ideas, but also for teams that can implement these ideas, adequately assess risks, and stably and harmoniously solve the tasks of a startup project. The range of factors of the external environment, the impact of which must be taken into account, is outlined. The characteristics of companies that demonstrated their technological solutions and attracted investments in 2022-2023 despite the difficult conditions of the war in Ukraine, security risks, global turbulence and venture financing problems are presented. The results of attracting investments by Ukrainian companies in the development of startups were analyzed, and the areas of activity in which the companies showed development results were highlighted. A number of measures that contribute to the development of the startup industry are described. It was noted that at the level of the state and local self-government bodies, competitions and grants for the implementation of start-up projects are announced, conditions are created for the presentation of start-up projects as part of international events, conferences, exhibitions. The prospects for the development of the domestic startup industry are substantiated. Despite the decrease in activity, the difficulties associated with the war, Ukraine is a country of unique talents who are able to produce startup projects, present and scale them to the whole world.