STARTUP ECOSYSTEMS IN UKRAINE: PROBLEMS, TRENDS, PROSPECTS

Keywords: startup, startup ecosystem, innovative development, international rankings and indices

Abstract

The article is devoted to the study of the theoretical foundations of startup functioning, identification of problems and prospects for the development of the startup ecosystem in Ukraine. The article presents approaches to defining the essence of the concept of "startup", which are presented in the economic literature. The methodological basis of the article is a review of international indices and ratings of startup ecosystems: Global Innovation Index, Global Startup Ecosystem, Startup Ecosystem Index. The structure and composition of the main international indices and ratings that characterise the country's innovative development and startup ecosystems are studied. The main problems hindering the innovative development of Ukraine include: an unstable business environment; low level of state regulation; difficult access to finance, low volumes of domestic lending to small businesses; low level of global corporate investors in R&D, gross capital formation, investment attraction, and venture capital. It is determined that the driving force behind the intensification of innovation activity in the country is the support of the startup ecosystem. In Ukraine, despite the continuation of military aggression by Russia, the startup environment is adapting and tends to recover. To stimulate the development of start-ups in Ukraine, it is necessary to create a favourable business environment, expand access to finance, and ensure the stability of infrastructure. Supporting the startup ecosystem is a complex process that involves: increasing government investment, especially in the early stages of development; developing and implementing a regulatory framework that will promote innovative entrepreneurship; introducing tax incentives; strengthening intellectual property protection; expanding opportunities for innovators to present their results at international platforms; and stimulating the development of regional startup ecosystems. Ukraine has the potential to develop startups not only in the IT sector, but also in other industries: manufacturing, financial services, healthcare, and especially in the field of national security and defence.

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Published
2023-09-26
How to Cite
Hubarieva, I. (2023). STARTUP ECOSYSTEMS IN UKRAINE: PROBLEMS, TRENDS, PROSPECTS. Economy and Society, (55). https://doi.org/10.32782/2524-0072/2023-55-95
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