Despite the war, Ukraine’s startup ecosystem has ranked among the top three fastest-growing ecosystems in Central and Eastern Europe (CEE) and is the fourth most valuable (following Poland, Estonia, and the Czech Republic). What is the secret behind its success? How is it evolving? And does this mean that investing in Ukrainian startups will inevitably yield profits?
Progress despite the odds
I am convinced that major crises are often followed by periods of growth, and war brings not only challenges but also new opportunities. For instance, the systemic crisis of 1971–1975 spurred the development of microelectronics, computers, the Internet, and mobile communications. The financial crisis of 2008 drove the growth of fintech, fundamentally transforming commerce, asset management, and investments while also giving rise to Bitcoin. In today’s world — first shaken by the wave of…
