Ukrainian startups show high stability even in war conditions
Ukrainian startups continue to show remarkable resilience despite the ongoing Russian encroachment into the country, although almost half now admit they have real concerns about their ability to continue at their current level without revenue, new investment or financial backing.
- Some Ukrainian startups have relocated, but the vast majority have retained at least some of their operations or teams in Ukraine.
- Not all startups survived the downsizing of the team after the Russian invasion. More than four out of ten startups have not undergone any changes.
- Nine out of ten startups confirm that they need financial support to continue operations and/or expand.
- More than half of all startups surveyed said they plan to expand in the short term. Only four percent of startups believe their operations can be scaled back.
Despite the ongoing war, the country's IT sector is demonstrating stability, and entrepreneurs continue to run their businesses.