: Huffington Post: Why we are undervaluing Ukraine's tech scene

13:58 Jul. 27, 2016

Huffington Post: Why we are undervaluing Ukraine's tech scene

Participant hold their laptops in front of an illuminated wall at the annual Chaos Computer Club. (Getty Images)

Ukraine graduates at least 15,000 IT professionals per year

The Ukrainian startup scene is stronger than ever despite multiple currency devaluations, the loss of Crimea and the ongoing war in the east.

Watch also Lviv IT Arena: Chance for West to discover Ukraine's tech potential

According to the latest Ukraine Dealbook report by AVentures Capital and Ukraine Digital News total venture investment in Ukrainian startups increased 237% year-over-year from 2014-2015, after having dropped 56% between 2013-2014. Last year there were a number of notable deals involving Ukrainian startups, the most significant being the acquisition of Looksery by Snapchat for USD 150 million.

With over 400 universities and colleges, Ukraine graduates around 15,000 IT professionals per year according to the recent IT Ukraine industry report. All large Ukrainian cities are home to coworking hubs and private IT schools that offer mentorship and courses taught by industry professionals.

Evgeniy Vyborov is a business mentor at one of the coworking hubs in Dnipro, Ukraine, and is a great illustration of the kind of leaders who are pushing the Ukrainian technology sector forward.

Read also Ukrainian wins USD 100,000 grant to start tech company in US

Recently, Vyborov served as a technical mentor with Boston Techstars and became CTO of a US-based company - but he's also the founder of WebiNerds (a Ukrainian software development company) and co-founder of the UA50 community that helps Ukrainian startups enter the US market.

With such a broad range of experience, Vyborov is one of the emerging leaders who understand startups and remote software development from both the Ukrainian and US perspectives.

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