Ukraine Recovery is Needed Now: Ukraine Tech Summit Gathers Global Tech Leaders in London with Google for Startups Announcing More Funding for Ukrainian Founders

LONDON, June 19, 2024 /PRNewswire/ — Ukraine Tech Summit, held on 12 June in Westminster, London and organised by London PR Lab, brought together over 200 participants, including Ukrainian and global tech leaders, investors, and startups. The summit is aimed to rejuvenate Ukraine’s tech industry, promote global expansion, and foster international collaboration.

Ukraine has long been a significant player in the UK tech world, with Ukrainian developers and talents supporting UK technological companies for many years. As more Ukrainian startups and product companies emerge, develop, and demonstrate unprecedented resilience, investors see increasing possibilities to support this tech-savvy nation.

“It is crucial to focus on investing in Ukraine now for economic stability and growth of the tech sector during the full-scale invasion,” said Vladyslav Bazikalov, the Founder of Ukraine Tech Summit, highlighting the urgency of immediate investment in Ukraine.

Jonathan Djanogly, non-executive Chair of Pembroke VCT PLC and Former Member of Parliament, addressed the UK’s perception of Ukraine and its tech sector, emphasizing great investment potential. He outlined improvements Ukraine can make to attract new investments.

The total value of the Ukrainian startup ecosystem has risen to an estimated €28 billion and Ukrainian startups continue to defy expectations. 

“Despite air raids, missile strikes, and blackouts, Ukrainian specialists are working at full capacity. And the world notices this resilience and dedication. For instance, deep-tech company ZibraAI secured $500,000 from a16z. Certainly, partnership projects with foreign businesses help Ukrainian companies grow and strengthen their reputation. It is cooperation with the UK that helped Ukrainian companies access British markets and allowed British firms to benefit from Ukrainian innovation. Such collaboration will make Ukraine a key player in Europe and bring in the investments we need,” commented Serhiy Tokarev, cofounder of Roosh, an investment group that develops and scales technological businesses globally.

To support entrepreneurs and tech companies in laying the groundwork for post-war economic recovery, Michal Kramarz, Head of Google for Startups, Central Europe and Mariama Boumanjal, Senior Startup Partner Manager and Fund Manager have announced the newest recipients of the Google for Startups Ukraine Support Fund.

Run in partnership with 1991, Ukraine’s first and largest accelerator, the $10 million Ukraine Support Fund provides equity-free cash awards and Google support to Ukrainian-founded tech companies. Selected startups received $100,000 of non-dilutive funding, Google Cloud credits, and hands-on Google mentoring, product, and technical support.

The first 2024 recipients of the Google for Startups Ukraine Support Fund are:

  • Ailand Systems – smart autonomous drones for landmine detection
  • BazaIT – all-in-one hiring solution for tech companies
  • Carbominer – green CO₂ capture from the air as a service
  • Clearly – tech platform connecting psychotherapists with clients
  • Eddy – digital space for teachers, parents, and students
  • Eventmate – app for event creators to engage with their audience
  • Natively – conversion of websites into iOS/Android apps
  • Spendbase – platform to optimize SaaS, cloud, and corporate card spending
  • Uspacy – digital workspace for SMBs, streamlining communication, collaboration, and CRM

The summit speakers also elaborated on grant opportunities for Ukrainian startups, the UK-UA partnership driving investments, and the resilience of Ukrainian founders.

Ukraine has a longstanding tech collaboration with the UK. For a very long time, UK entrepreneurs have collaborated with Ukraine’s amazing tech talent. Now, the UK is benefitting from Ukraine’s startup ecosystem, from SaaS to climate tech to defence tech. Ukraine’s resilience at both personal and startup levels is a key reason to partner with Ukraine’s tech ecosystem,” said Mike Butcher, MBE and Editor-at-large of TechCrunch.

Media Contact:
Vladyslav Bazikalov

SOURCE London PR Lab