Ukrainian Tech Ecosystem Achievements 2021: Ukrainian Startup Fund

This was a defining year for Ukrainian tech, plenty of memorable moments: GitLab’s IPO, Grammarly became decacorn, 252 000 tech specialists in Ukraine, new VCs, media, tech educational institutions, global tech moguls hatched audacious deals.

TechUkraine initiated the project “Ukrainian Tech Ecosystem Achievements 2021,” where we share the stories of the prominent stakeholders of the sphere – tech giants, startups, clusters, funds, media, accelerators, celebrating the success of the year and discovering what lies ahead in 2022 and beyond.

Let’s deep dive into some of the most significant achievements-making developments of the year!

Ukrainian Startup Fund

What are the key achievements of 2021?

  • Successful launch of the innovation voucher program. In August, during the 30th Pitch Day, the launch of a new program was officially announced. It allows startups to receive innovative vouchers in the form of grants to attend international exhibitions and conferences with a worldwide reputation. A few months after the announcement, teams have already been selected to participate in CES 2022 and Web Summit 2021, where in practice the debut of the initiative took place.
  • Maintaining the position of the largest “angelic” investor in Ukraine. At the year-end of 2021, the fund has funded more than 250 startups worth almost USD 7 million, which makes us one of the key investors supporting young startups in Ukraine.
  • The longest-running and non-stop pitch in national history. On December 10, as part of the event dedicated to the second anniversary of the fund, the National Record of Ukraine was officially set. 122 teams of Ukrainian startups took part in it.

Which challenges were the most impactful during the year?  

  • The application flow from startups does not stop even two years after the start of accepting them. At the time of writing,the number has crossed the mark of 4 thousand, which makes us sincerely happy.
  • Interest in the main event of the fund – Pitch Day – never fades. Public pitches of startups have become one of the main events of the Ukrainian innovation scene, where you can see at first hand what used to be behind closed doors. Media support is only growing, and besides this, for the first time, investment funds are joining as partners, which will help to draw attention to Ukrainian startups.

How will Ukrainian tech be developing? Approach, projections and perspectives for 2022?

  • Thanks to the already mentioned program of innovative vouchers, Ukrainian startups will begin to be recognized and talked about in the world more.
  • The role of education will increase in the form of incubation and acceleration programs. Startup creation will become less chaotic and of better quality.
  • According to the consensus of experts presented in a study from UVCA and Kreston Ukraine “Ukraine venture capital and private equity markets 2020” FinTech, GameDev, HealthTech and BioTech are the most promising areas.

Let’s see whether the prediction turns out to be true.

About Ukrainian Startup Fund

Ukrainian Startup Fund is a state fund created to finance and promote Ukrainian startups and increase their global competitiveness

Everything is TECHable with Ukraine!

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