Serhiy Tokarev Highlights Ukraine’s Technological Expertise at the Ukraine Tech Summit in London
On June 12, 2024, the Ukraine Tech Summit took place in London. It gathered representatives from leading tech companies, government officials, and investors from both Ukraine and the UK. This significant event, sponsored by Google for Startups and the investment group Roosh, underscored the growing influence of Ukraine’s tech sector on the global stage. Serhiy Tokarev, a tech investor and co-founder of Roosh, shared his insights from the summit on Facebook, emphasizing the critical role of Ukrainian technological expertise in Europe.
The summit aimed to rejuvenate Ukraine’s tech sector, facilitate its global market integration, and foster international cooperation. Through panel discussions and startup pitch sessions, participants explored the potential of Ukraine’s tech ecosystem and the substantial investments required to support Ukrainian innovations. Serhiy Tokarev highlighted the necessity of these efforts and pointed out that despite the ongoing war, Ukrainian tech talent continues to thrive and innovate.
Ukraine has established itself as a key player in the UK tech market, with a growing number of Ukrainian specialists contributing to British tech companies. Vladyslav Bazikalov, founder of the Ukraine Tech Summit, stressed the importance of investing in Ukraine to maintain economic stability and promote the growth of the tech sector during challenging times. The summit also showcased how Ukraine’s tech resilience benefits the UK, with collaborations spanning various domains from SaaS to climate and defense tech.
During a panel discussion on the global tech ecosystem, speakers noted that Ukraine’s startup ecosystem’s total value has reached €28 billion. Mike Butcher, editor-at-large of TechCrunch, praised the quality of Ukrainian startups but pointed out the need for a stronger product vision and market entry strategy. He emphasized the long-standing collaboration between UK entrepreneurs and Ukraine’s tech talent, underscoring the mutual benefits of such partnerships.
Serhiy Tokarev addressed the challenges of international cooperation during wartime. He highlighted the restrictive policies of global tech businesses that prevent them from engaging with companies in conflict zones. Tokarev argued that these policies need revision, as Ukrainian specialists have demonstrated remarkable adaptability and resilience, continuing to develop startups despite ongoing shelling and blackouts. He stressed the importance of sharing success stories to attract more investors and partners to the Ukrainian market.
Michal Kramarz, Head of Google for Startups in CCE, pointed out that Ukraine has a unique advantage over European countries in implementing new technologies. The relatively unregulated Ukrainian market allows for the testing of various technological solutions before potential EU integration. Kramarz announced the inclusion of nine Ukrainian startups in the Google for Startups Ukraine Support Fund, a $10 million initiative in partnership with Ukraine’s largest accelerator, 1991. This fund provides grants of $100,000 and expert assistance from Google, fostering further innovation in the Ukrainian tech sector.
These startups include Ailand Systems, which develops smart autonomous drones for mine detection, and Carbominer, which has created a technology to capture carbon dioxide from the air. Other participants are BazaIT, an IT recruiting platform, and Clearly, a service for finding psychotherapists. These startups exemplify the diverse and innovative solutions emerging from Ukraine, reinforcing its position as a crucial player in the European tech ecosystem.
The Ukraine Tech Summit in London showcased the resilience and innovation of Ukraine’s tech sector, despite the ongoing war. Serhiy Tokarev’s insights underscored the importance of international cooperation and investment in Ukrainian technology. The event highlighted how Ukraine’s unique experiences and technological advancements make it an invaluable partner in Europe’s tech landscape. The summit not only demonstrated the strength of Ukraine’s tech ecosystem but also called for continued support and collaboration to ensure its growth and success.