Ukrainian startups received over $6B in revenue in 2022 — Google
05 April, 2023, 11:33
In 2022, despite the war, Ukrainian startups received over $6 billion in revenue — this is $542 million more than in 2021. Moreover, since 2020, their value has tripled. The data were published by Google as part of the Google for Startups Ukraine Support Fund program. Google also shared the results of the program for the year.
- Since March 2022, Google for Startups, a program that provides financial assistance and support from Google to Ukrainian startups, has funded three cohorts through the Google for Startups Ukraine Support Fund in the amount of $5 million.
- 58 startups that got support not only survive the war, but also continue to grow. Most of these companies have entered new countries and markets. In the last year, the recipients of the Ukraine Support Fund:
- raised $10.2 million,
- increased revenues by an average of 106%,
- employed more than 1000 specialists, 800 of them were technical workers (46% of whom were women).
- At the same time, the general situation on the market remains quite unfavorable. More than 90% of Ukrainian startups say that they need financial support to continue their activities and expand.