Ukraine’s tech and startup ecosystem is far from stagnant. It continues to grow and adapt in impressive ways. This is what Marharita Horokhova, Project Manager at the non-profit civic union Techosystem, shared with us in a conversation during Invest in Bravery: Defense & Resilience in Kyiv earlier this year. 

She spoke about how Ukrainian startups are navigating challenges, attracting global investment, and what sets their founders apart.

Last year, Google reported that the total value of the Ukrainian startup ecosystem has risen to an estimated €28 billion – including twice the average number of unicorn companies per funded startup in Europe.

Moreover, Kyiv has been named among the Top 20 Rising Tech Hubs globally in Dealroom’s latest Global Tech Ecosystem Index.

Ukraine’s startups push on, seeking global support

Horokhova explains that while Ukraine is facing massive obstacles, the startup scene remains very much alive. That message is vital to communicate, particularly to investors outside the country.

“From conversations I’ve had with international investors, there are still a lot of misconceptions,” she says. “Like, ‘Why would I invest in Ukraine? There’s corruption. There’s war. No one’s left. The system isn’t functioning.’ Or they assume that all investment is now going into defense tech and that nothing else is happening.”

Marharita points out that their goal now is to increase visibility and make sure people outside Ukraine know what’s really happening within the ecosystem. 

“Some funds are even investing in defense tech, which is great. But we also need support for other verticals. There are incredible startups that deserve attention. Of course, defense is a priority – but it’s not the only thing happening.”

Horokhova explains that Techosystem plays a key role in supporting international investors by helping them understand Ukraine’s business environment, including tax, legal frameworks and local due diligence.

“We have an entire support infrastructure in place. All the investors need to do is bring their interest and capital.”