State of European Tech 2019. Ukraine

The most comprehensive data-driven analysis of European technology

The State of European Tech is the most comprehensive data-driven analysis of European technology in 2019 made by Atomico in partnership with Slush and Orrick. To understand where Ukraine is and how to move forward even faster, let’s check the track race of the EU tech industry.

Key findings of the EU tech by the report:

  • European tech companies will likely reach $34B in funding in 2019, up from $25B in 2018. Funding has more than doubled in five years. It includes more than 40 $100M+ deals so far this year – more than ever before.
  • 3 Countries (United Kingdom, Germany, and France) surpassed $10B cumulative capital invested since 2015
  • 29 Cities across Europe attracting over $100M of capital invested in 2019 alone
  • Across Europe, there now are 174 $1B+ tech unicorns. In 2010, there were only 18 – a 10x increase in less than a decade. And 20 countries now have at least one unicorn, twice the number only five years ago. 
  • Today, 170 cities have tech communities, compared to 70 four years ago.
  • SOFTWARE ENGINEERING TALENT POOL – 6.1m professional developers in Europe, which represent an increase of 400,000 compared to 2018.
  •  2,600 unique institutional investors involved in a European deal in 2019
  • Eastern European cities dominate the list of growing hubs by Meetup members, as top tech hubs like London, Berlin, and Paris are losing popularity amongst founders thinking about where to locate their businesses.

State of European Tech 2019. Ukraine

Where is Ukraine as a technological country on the EU map?

Capital invested ($M) by country, cumulative since 2015 and per year: Ukrainian dynamic: 2015 – $6M, 2016 – $17M, 2017 – $2M, 2018 – $14M 2019 – $21M

Ukraine is the second in Top 10 countries with the largest share of freelance professional developers;

8000+ is the growth of the Ukrainian professional developer talent pool – from 184000 in 2018 to 192000 in 2019

Kyiv is among the largest hub of professional developer talents (41%) – we are between Bucharest and Moscow

The number of deals by country per year: Ukraine – 2015 – 25, 2016 – 27, 2017 – 12, 2018 – 19, 2019 – 9

Kharkiv is on the top of 10 fastest-growing hubs in Europe by the YoY growth rate of active members in tech-related Meetups. Central & Eastern European cities dominate the list of top ten fastest-growing hubs by the growth of active members year-on-year.

Ukraine has only one tech company with $1B+VC-backed (Grammarly). The UK is the single largest source of $1 billion+ VC-backed tech companies from Europe with 29, followed by Germany (17) and France (11)

Ukraine is among countries with the largest proportion of women angel investors

Professional developer talent pool vs. capital invested ($M) by country, 2015-2019: Ukraine – 192100 professional developers and $54M

The cost of office space in Kyiv is one of the lowest in EU: Prime rent Q2 2018 vs. Q2 2019 – $276 in 2018 and $299 in 2019

Read the full report here

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