International support for the Ukrainian tech sector may be the most effective way to counter the devastating impact of Russia’s invasion
The most effective long-term use of resources may be to focus on strengthening Ukraine’s digital economy and the country’s IT industry. Investing in this sector will have an immediate economic impact and will create the largest number of jobs. After all, global studies consistently indicate that every new work place in the IT industry creates five more jobs in non-related service industries.
What should a Digital Marshall Plan for Ukraine look like?
- First of all, it should feature large-scale strategic investment in the digital transformation of Ukraine including all public services, healthcare, and education.
- investment into the rapid retraining of Ukrainians from other professional backgrounds will help to drastically reduce unemployment.
- Ukraine and the country’s partners should work together to create attractive financial conditions that will encourage more of the world’s leading tech companies to open Ukrainian hubs and R&D centers.
- It is also necessary to establish a large-scale “fund of funds” for IT entrepreneurs that will invest in venture funds operating in Ukraine. Startups were fast becoming the most important growth point of the Ukrainian tech sector before the war and have huge potential for the future.
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- Come Back Alive is one of the largest charitable foundations that supports Ukrainian soldiers, founded by the IT specialist Vitaliy Deynega. The organization collected more than 210 million UAH (more than $7M) in 2014. According to Na chasi, the Patreon page Come Back Alive is in the top ten projects by the number of financial donations.
- MacPaw Development Fund
- Army SOS, which develops drones;
- Everybody Can, an organization that supports internally displaced people;
- Help on the Ministry of Defense website.