The total value of Ukrainian startups is estimated at €23.3B

The total value of all Ukrainian startups is estimated at €23.3 billion as of November 2022. This is €4 billion less than in 2021, as stated in the Global Innovation Development Strategy from the Ministry of Digital Transformation of Ukraine.

• Over the past five years, the value of Ukrainian startups has increased more than 9 times, from €2.5 billion in 2017.
• Currently, there are 1,500 active startups in Ukraine, and more than 600 startups were founded by Ukrainians or graduates of local universities.
• As for foreign startups, more than 500 of them have opened offices in Ukraine, demonstrating interest in the capabilities of the local market.
• There are also more than 285,000 IT specialists in Ukraine.

“The so-called spinoff companies occupy a special niche among innovation enterprises. As a rule, they have already been carrying out innovative activities for at least five years from the moment of state registration. The founders of such companies can be scientific institutions, institutions of higher education or companies that have received a license to use technologies or objects of intellectual property rights developed by such a scientific institution or institution of higher education,”

the Ministry of Statistics writes.