In order to promptly respond to new challenges facing the participants of the startup ecosystem of Ukraine under martial law, the Ukrainian Startup Foundation conducted an online study of the ecosystem. About 150 founders of Ukrainian startups took part in the survey.
Respondents answered questions about the possibility of continuing their activities, in particular, about the need for relocation, team work, funding and investment needs, further plans for project development, etc.
The results of the study allow us to analyze the current state of the Ukrainian startup ecosystem. In particular: by the location of startup teams: 71% stayed in Ukraine, 28% – partially abroad, and only 1% – completely left the country.
It is important to note that many startup teams have joined the Armed Forces of Ukraine, the ranks of the territorial defense or the IT army, they help financially or media, volunteer … Everyone understands that in the realities of wartime, everyone’s contribution is important. Some startups make all their services free for users, others are actively creating new platforms, marketplaces or other digital projects that bring together those who are ready to provide assistance and those who need it.
The survey showed that now, during the war, it doesn’t matter in what area a startup operates, everyone is trying to bring victory closer in every possible way. It is impossible not to note the patriotic spirit of Ukrainian startups, which cannot stand aside when there is war in their native country.
At the same time, domestic startups are trying to adapt to new working conditions during martial law and are making great efforts to keep their business up and running.
24.3% of the surveyed startups continue to work, 46.7% work partially (mostly remotely), 28% do not work at all, 1% have changed the scope of their activities.
Opportunities for continuing the activities of startups are different for everyone: 38.5% of respondents have savings for a maximum of 1 month, 37.2% for 1-3 months, 16.7% for 3-6 months, 7.6% for six months or more.
In general, if we talk about the further development of startup projects, the results of the study showed that 41.1% of startups today do not have savings and financial opportunities for the development of startups.
The vast majority of startups surveyed (99% of respondents) noted that they need financial support.
At the same time, 85% of respondents understand and see what to do next, and continue to make plans for the development of their own projects for the future.
37.4% of startups need a project relocation and a team on a temporary or permanent basis.
Among the immediate tasks, startups name the preservation of the team and its security, reformatting the business model, microloans, the search for foreign investment, fundraising, etc.
“The Ukrainian startup ecosystem can serve as an example for the world. Despite difficult conditions, the startup industry is trying to stay afloat. But talent needs help. Their knowledge and competencies are the main resource of startups. In the conditions of war, Ukrainian startups not only stand side by side with the defenders of our country and do everything they can on the information and IT fronts, they are also trying to maintain the viability of their projects, continue to work and move forward.
One should not think that the startup ecosystem in Ukraine is paralyzed. Against. More than 70% of startups remained in Ukraine. They are maximally motivated to continue to implement their projects. Now they are in dire need of support and investment. Therefore, we call on international partners to support Ukrainian startups, and hence the economy of our country.
The economic front in this war is just as important as the military front. So, let’s join forces to continue developing the innovative potential of Ukraine,” said Pavel Kartashov, director of the Ukrainian Startup Fund.