Ukraine IT/Tech Sector Successfully Promoted at Web Summit

Web Summit stands out as the biggest tech showcase gathering in Europe, offering a robust platform for connecting IT leaders, startups, and next-generation solutions.

This year, the Web Summit took place in Lisbon Portugal from Nov. 13 to Nov 16, and 25 Ukrainian startups featured projects in artificial intelligence (AI), sustainability, and advancements in physical and mental health, reflecting the zeitgeist of the technology world. The Ukrainian pavilion drew investors seeking new, mutually beneficial partnerships from around the world.

Yuliya Sotska, Chief Brand & Communications Officer at Viseven, a Ukrainian pharmaceutical MarTech provider, pointed out: “Web Summit serves not just as a platform for forging fruitful partnerships, but also as a chance to spotlight important narratives on the global stage. Now, more than ever, our country needs investments to keep its economy up and running.”

Russia’s war against Ukraine has made the IT field even more resilient, responsive, and flexible. “We have learned to have backup plans, think on our feet, and constantly come up with innovative ways to raise awareness or funds,” Yuliya added.

“Even if we set aside the thoughts of war for a moment, today tech companies worldwide are challenged to operate in an environment that is complex, dynamic, uncertain, and volatile. As the Covid pandemic showed, no business is immune to global events, evolving customer preferences, and tech disruptions. Partnering with Ukraine’s tech companies, which are well equipped to deal with changes and uncertainties that come their way, appears as a win-win opportunity.”

According to statistics, the Ukraine’s IT industry keeps developing by leaps and bounds. By the end of 2022, the country’s software development exports surged by almost 7 percent. The recent ITU report shows that it accounts for nearly half of service exports and contributes 4 percent to the GDP, playing a critical role in the economic rebound.

With the IT sector ranking second among export-oriented industries, cooperation with international investors and partners is pivotal in aiding our economy to get back on its feet.

Yet funding Ukraine extends beyond a noble cause. Our software industry has a lot to offer to other countries – top notch developers, competitive rates, and innovative solutions across various fields, spanning from GovTech and HealthTech to FinTech and MarTech.

Ukraine is the home of more than 200,000 software engineers, which has made it a hotbed for international investments and startup activities. The nation has produced several unicorns for the world – businesses with a value exceeding $1 billion – including AI writing assistant Grammarly and software development platform GitLab. Many global businesses opt for collaborating with Ukrainian tech, being allured by coders’ high performance and lower rates.

Ukrainian IT specialists keep showing perseverance, commitment, and hard work. According to the findings from the DOU study conducted in April 2022, an astounding 91percent of developers returned to work a short while after the war began.

“Many Ukrainian software companies continue to demonstrate remarkable resilience in addressing unprecedented challenges,” said Yaroslava Upatova, Product Portfolio Expert.

“Participating in events like Web Summit allows us to highlight the talents and agility within our field, helping promising startups scale up. The tech sector boasts innovative businesses, and we take pride in being among them at Viseven. As a MarTech company, we strive to enhance communication between pharmaceutical brands, healthcare providers, and patients, with the ultimate goal of saving lives.”

Viseven provides pioneering solutions for life sciences companies to boost engagement, elevate awareness, and facilitate digital transformation, regardless of business size or maturity level.

Our success serves as another proof that Ukraine is firmly establishing itself as a digital nation. Our solutions empower a wide range of big pharma names worldwide to accelerate content production, trim costs, and improve the overall efficiency of their marketing operations.

Ukraine has every chance to become Europe’s leader in technology, digital transformation, and innovative startups. This ambitious vision is what Ukrainians seek to highlight at the Web Summit, ensuring that the global community keeps supporting their tech businesses and witnesses their transformation into unicorns.