Is Ukraine the Next Silicon Valley?
Silicon Valley is the center of the tech and startup scene in the United States. Cities around the world are trying to surpass the California-based center. While none of them have quite managed, Ukraine has emerged as a tech leader in Eastern Europe. Some have even gone so far as to call it the “Silicon Valley of Europe.”
Powerful Outsourcing Center
Ukraine is already a thriving center for outsourcing and freelance work, both in Europe and the rest of the world. One freelance website, Upwork, lists Ukraine as the third best place to find freelancers with advanced IT and tech abilities. There are plenty of certified IT professionals to choose from, and the number is only growing as more students graduate. Ukraine is the country with the third most certified IT professionals.
Ukraine is already home to tens of thousands of workers outsourced from major firms such as Google. Even more are freelancers or people who are not officially registered.
A Growing Tech Center
According to IT Ukraine, the tech sector is the third most important in the country. The number of tech jobs is only expected to increase as time goes on. Although Ukraine’s economy has been shaken in recent years, the IT sector always remains one of the country’s most stable industries. Salaries in the technology industry are also significantly higher than those in other industries, which makes tech all the more attractive.
Young Ukrainian entrepreneurs have already launched a wide variety of tech startups. They have reached an incredible variety of industries, including IoT, cybersecurity, and energy. They offer services from the creation of smart homes to wearable technology. Young citizens are exploring the boundaries of current market niches while creating new ones. They don’t seem to be slowing down anytime soon!
You may already know about some Ukrainian startups, such as Grammarly, a popular editing application. The founder of WhatsApp is also Ukrainian, as is the co-founder of PayPal. Did you know that the co-inventor of Wi-Fi is Ukrainian?
A lack of funding, however, is the biggest problem that Ukrainian startups face. More venture capital firms and investors will need to begin backing projects in Ukraine before it reaches the same level of success as Silicon Valley. The potential is certainly there, but we need to see a rise in awareness and financial resources.
This article was originally published on RobertBensh.info.