Uliana Pereskotska is a Board Member of Ukrainian- Swiss Business Association, Co-Founder and COO at MedTech Startup for rapid sepsis diagnostics ImmunoTronics and also an Expert at Kickstart Innovation – one of Europe’s largest innovation platforms that runs a scale-up program for later-stage startups.
Having extensive experience in working with startups, this year Ulіana coordinated the first Ukrainian delegation at the Startup Nights event held in Winterthur, Switzerland, on November 2-3.
Startup Nights is Switzerland’s leading startup event for all tech entrepreneurs, with the primary goal of creating awareness for startups and their innovations. Startup Nights is organised by a team of about 70 passionate people who shape the future of the Swiss startup scene.
This year, the event was attended by a Ukrainian delegation led by Uliana Pereskotska with the cooperation of partners such as the Ministry of Digital Transformation of Ukraine, the Ukrainian Startup Fund, Ukrainian-Swiss Business Association, KUNA and media partner TechUkraine.
TechUkraine editorial board asked Uliana about the details of the event and the place of Ukrainian business in the Swiss market.
Why have you decided to organize a Ukrainian pavilion at this conference?
I came to Switzerland 5 years ago, from the onset, having in mind building bridges between the two countries. Of course, the war has changed things, but on the positive side, it accelerated many processes. One fine day, about a year ago, I closed my eyes and made a wish. I yearned for Ukrainian startups to set sail for Switzerland, create a national pavilion, showcase their finest work, and exchange groundbreaking ideas. At that time, it seemed like a distant dream due to numerous restrictions and the looming spectre of war. But they say, “Where there’s a will, there’s a way,” at Startups Nights, those dreams have materialised.
I am happy that years-long relationships brought their results.
In your opinion, what opportunities currently exist in the Swiss market for Ukrainian startups?
Switzerland has become an important partner and ranks in the top 10 destination countries for Ukraine’s IT services nowadays.
Moreover, results from a first startup delegation showed that Ukrainian startups such as S.Lab and CheckEye can not only compete at the same level as their Swiss counterparts but even win! S.lab became the first in the Early-stage startups category and won 5,000 CHF, and CheckEye took third place in the pitch and received a prize of 2,000 CHF.
Switzerland is a valuable resource for talented minds, advisors, mentors, potential investors, and partners. Fintech, sustainability and health tech are particularly robust niches where startups can find promising opportunities.
What are the advantages of investing and working with Ukrainian companies compared to other Eastern European countries?
From my perspective, Swiss people appreciate small companies, and they generally hold a positive view of Eastern European education. To establish long-lasting relationships with Swiss partners, a personalised approach or recommendation from the right person is crucial. Once that connection is made, it is enduring.
In my conversations with startups at conferences, I’ve observed a solid connection to Ukraine. Many of them either have employees from Ukraine or are considering hiring from there. This trend showcases the trust and potential in Ukraine’s workforce.
Finally, because of the war, there are higher risks with investing in Ukrainian startups. However, higher risks create the potential for higher returns in the future.
What do Ukrainian startups need to succeed in the Swiss market?
Switzerland boasts one of the world’s highest GDPs per capita and offers a high quality of life. It’s renowned for its strong brand and overall comfort. However, when it comes to doing business, there are notable differences between Switzerland and Ukraine. Switzerland has a strong economy and a comfortable lifestyle, but doing business there is different. Swiss business culture values respect, humility, and small talk. Building trust takes time, but once earned, it leads to successful collaborations. It’s important to understand that building a warm relationship in Switzerland may not happen after the first call or even after several meetings. Swiss business interactions often come with the expectation that you should prove yourself over time. However, once trust barriers are crossed and you successfully deliver on your first contract, the possibilities for collaboration become excellent.
Providing custom solutions is a second essential point because Switzerland is a federal country with different rules and regulations across its cantons. Therefore, flexibility and adaptability in providing tailored solutions are highly regarded when engaging in business ventures in Switzerland.
In my experience, it took me several years to comprehend and establish these long-lasting relationships, which ultimately led to fantastic collaborations with Startup Nights.
Why do you think supporting Ukrainian IT sector is important?
While other sectors of the economy, such as agriculture and metallurgy, suffered significant drops in exports, the IT service sector remained largely resilient. The challenges faced by the Agro sector, for example, in export, are expected to pose significant hurdles to recovery. In contrast, the IT sector has encountered fewer setbacks and is poised for a smoother recovery. Moreover, investing in the IT sector is an investment in the future, presenting substantial opportunities. Prominent IT companies are actively exploring membership in our Business Association, which would grant them access to a Swiss business network and the potential to market their applications in sectors such as fintech, sustainability or healthcare.
Read more about Ukrainian tech delegations: First Ukrainian Startup-Delegation in Switzerland. Results and Successes of Ukraine at the International Technology Event Startup Nights 2023
