In a bid to fortify the Ukrainian IT sector amidst the ongoing challenges, Serhii Tokarev, an IT entrepreneur and Co-founder of the investment group Roosh, stresses the imperative need for predictability to entice foreign investments. Tokarev, in his recent op-ed for the Ukrainian media Ekonomichna Pravda, elucidates on the pivotal role of transparent reservation of employees and streamlined business travel processes for technical specialists in bolstering Ukraine’s tech ecosystem.
Highlighting the current predicament faced by Ukrainian IT professionals, Serhii Tokarev underscores the significance of uninterrupted cross-border communication for fostering investor confidence.“Product presentations, discussing deals with new partners, major tech events—all of this is currently unavailable for Ukrainians in offline format,” notes Tokarev, emphasizing the irreplaceable essence of live interactions in international business engagements.
Serhii Tokarev further accentuates that Ukrainian IT specialists constitute the backbone of foreign currency inflows into the country, particularly crucial amidst the persisting geopolitical tensions. To navigate through these challenges, Tokarev advocates for the establishment of transparent mechanisms to reserve employees from mobilization and facilitate business trips, thereby ensuring uninterrupted operations for Ukrainian tech companies.
A pressing concern, as highlighted by Serhii Tokarev, is the lack of international exposure for Ukrainian tech ventures, which often deters foreign investors. To mitigate this apprehension, Tokarev emphasizes the necessity for Ukrainian tech entrepreneurs to demonstrate predictability by assuring potential investors of their relocation to safer zones and robust infrastructure provisions, including reliable internet connectivity.
Despite the adversities posed by the ongoing conflict, Tokarev commends the resilience of the Ukrainian IT industry, evident in the increasing interest from foreign investors. Citing successful funding rounds for pioneering tech ventures like Zibra AI, Haiqu, and Preply, Tokarev underscores the potential of Ukrainian startups to captivate global investors with cutting-edge innovations.
According to Tokarev, the instrumental role in fostering the growth of Ukraine’s tech ecosystem is played by initiatives like Diia.City and Diia.City United, a newly formed union comprising leading tech companies. The union advocates for fair business practices and fosters dialogue between the government and tech enterprises.
In conclusion, Serhii Tokarev advocates for an enhanced business climate and heightened international presence of the Ukrainian tech sector as catalysts for a prosperous and progressive Ukraine. By prioritizing predictability and transparency, Ukrainian IT projects can effectively attract the much-needed foreign investments, thereby fortifying the nation’s technological landscape amidst turbulent times.
