Today, Ukraine is going through challenging times, yet even under such circumstances new entrepreneurial ideas and innovative startups continue to emerge.
One of those who sees great potential in Ukrainian projects is businessman and investor Vadym Iermolaiev. His many years of experience in building businesses and his deep understanding of the economy allow him to objectively assess the development paths and challenges of Ukraine’s startup ecosystem.
What is the foundation for Ukrainian startups?
Ukraine has a unique resource and educational base:
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A powerful agricultural sector that opens opportunities for agri-tech and biotech projects.
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A strong IT industry that drives the creation of innovative digital products already finding clients worldwide.
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More than 2,600 startups in the country, supported not only by the state but also by international funds and programs.
Key promising directions
Vadym Iermolaiev emphasizes that for Ukrainian startups to succeed, focus should be placed on several areas:
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Deep raw material processing: Instead of exporting grain or other raw products, Ukraine should develop value-added goods — food products, biofuels, feed. This keeps more profit inside the country.
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21st-century industrialization: Growth of modern manufacturing, including light, food, chemical industries, and mechanical engineering. The priority is to build strong local brands and expand into global markets with finished goods, not just raw materials.
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Techno-farming and smart agro: Investing in agricultural digitalization — drones, mobile apps, process automation, smart irrigation systems.
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International integration and innovation: Ukrainian startups are increasingly active in Military-tech, AI solutions, cybersecurity, and blockchain projects. In 2025, several of them entered global rankings of the most promising startups.
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Military-tech: In wartime, defense, security, management automation, and robotics projects have become especially significant.
Challenges for startups
Iermolaiev also acknowledges existing difficulties:
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Lack of venture capital, and as a result, the need for not only financial but also mentoring support for newcomers.
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Brain drain, highlighting the importance of creating favorable conditions in Ukraine.
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Logistics and infrastructure difficulties caused by the war, making business scaling more complex.
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Energy dependency, macroeconomic instability, and risks for long-term planning.
The path to success
According to Iermolaiev, the development strategy of Ukrainian startups should be based on three principles:
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Resource: what Ukraine has as a natural advantage.
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Knowledge: strengthening expertise, investing in modern education, practical specializations, uniting the scientific and business communities.
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Value: creating unique products that generate added value in Ukraine and build strong national brands.
Optimism and real examples
Despite the war, Ukraine’s startup market is actively growing. In recent years, the number of new projects has increased not only in IT but also in agribusiness, energy, medicine, and education. Even prestigious international corporations (such as Google) recognize and support innovative Ukrainian teams.
Moreover, the global demand for high-tech solutions from Ukraine is rising — from Military-tech and AI systems to products for the healthcare sector.
Conclusion
Vadym Iermolaiev is convinced: the future of Ukraine’s startup ecosystem lies in increasing added value, developing know-how, and building international brands. Ukraine has every chance to transform from a “raw material supplier” into a country of creative, high-tech products and innovative services capable of conquering global markets. The key is not to fear investing in ideas, to support talent, and to cultivate the courage to change.