Start-ups at the heart of a new Ukraine

More focus on the tech, IT and e-commerce industries is breathing new life into the Eastern European country

(© moodboard / Alamy Stock Photo)

Entrepreneurs are continuing to launch business ventures across the world - despite the high levels of economic, political and stock market uncertainty that we have witnessed over the last few years.

Innovative start-ups are still appearing in a wide variety of sectors, including information technology, software and e-commerce, as people look to take advantage of new markets and improved technology.

And this exciting environment is providing would-be investors with plenty of opportunities to take advantage by putting their money into businesses with the potential to grow rapidly.

The fact Europe is often in turmoil and battling difficult conditions makes it an ideal breeding ground for innovation and entrepreneurialism. As a result it is increasingly opening up to foreign capital that finds its innovative companies appealing.

Ukraine is a prime example. Despite the unrest that it has endured in recent times, the country has been the backdrop for a number of exciting start-up businesses that have made their presence felt on the world stage.

Millions of pounds were injected into Ukrainian start-ups during 2015 and the country is now firmly on the radar of venture capitalists.

Ukrainian youth are leading the charge to reform and modernise their country by re- positioning it as a high-tech hub, thus moving it away from the traditional government/oligarch-controlled sectors.

And this is clearly paying dividends. A key success story in recent years has been technology company Looksery. Viktor Shaburov founded this mobile application, used to enhance pictures, in 2013 and sold it to Snapchat last year for $150m.

M2Epro is another prominent business that’s helping to usher in an environment that’s more focused on high-tech, IT businesses than the more traditional government-subsidised industries.

Having started life developing electronic platforms for foreign exchange trading and other management systems, the business has now developed links with international giants such as Amazon and eBay.

Just some of the companies that illustrate the diverse nature of the extraordinary opportunities that can be increasingly found in Ukraine.

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