On September 28, we co-hosted the side event ”PowerUp: United for Tech & Investments” alongside Glovo at IT Arena 2025.
The event brought together tech industry leaders, investors, and government representatives for a candid dialogue on the role of technology in Ukraine’s development and economy, the main challenges facing the industry, and the critical importance of foreign investment at this very moment.
Digital Force: How Technology Strengthens Ukraine
The first panel was dedicated to the resilience phenomenon of the Ukrainian tech sector. The conversation featured true global leaders: Oleksandr Kosovan, Founder and CEO of MacPaw, founder of SMRK VC, and President of Diia.City United; Sacha Michaud, Co-founder of Glovo Global and a member of our Association’s Strategic Board; and Victoria Tigipko, Founder and Managing Partner of TA Ventures. The discussion was moderated by Natalia Mykolska, our Association’s Executive Director.
Sacha Michaud shared the three key reasons why Glovo continues to operate and invest in Ukraine:
- Incredible talent: Not just in technology, but across all business functions.
- A favorable business environment: The government is open to dialogue and collaboration.
- The resilience of the team and partners, who are ready to work even under the most challenging conditions.
Oleksandr Kosovan, who has been investing in Ukrainian startups for 11 years, noted that for him, these investments are about impact, not just money:
By building successful companies and startups in Ukraine, we are building a successful Ukraine… Our goal is to build the economy faster than the enemy tries to destroy it.
Victoria Tigipko added a dose of healthy pragmatism to the conversation. According to her, investors manage other people’s money and are not prepared to take risks without insurance against force majeure events like war. She emphasized:
I don’t invest out of charity. I invest because of Ukraine’s potential.
Victoria is confident that it is possible to build companies worth hundreds of millions of dollars, and even unicorns, in Ukraine without relocating abroad.
The speakers agreed: the world is not waiting for Ukrainians with open arms. However, each leader sees this situation from a unique perspective.
Sacha Michaud advised a pragmatic approach:
I would recommend first proving that your product works perfectly here, in Ukraine… and only then begin to expand.
In his opinion, the Ukrainian market is highly advanced technologically, making it an excellent place to test and refine a business model.
Oleksandr Kosovan sees a unique opportunity to turn the forced migration of Ukrainians into a competitive advantage. People who have spread across the world are gaining experience and building networks that can help Ukrainian companies enter new markets.
At the same time, he stressed that surviving in the global competition requires integrating an AI strategy into products and company processes. This is the new reality in which Ukrainian companies must compete, despite all the wartime challenges.
According to the founder of a successful global company, the effective implementation of AI allows you to create better and cheaper products, which is a key advantage in any market.
Today, investors are looking for businesses with healthy unit economics and a clear path to profitability. And the opportunities in Ukraine are countless — from defense tech and energy to health tech, biotech, and robotics. The key is not to wait, but to act, unite, and build.
Investing in Ukraine’s Future
The second panel of the event brought together the perspectives of the government, international business, and private capital for a constructive discussion on Ukraine’s investment landscape.
The conversation was moderated by Maryna Pavliuk, General Manager of Glovo Ukraine, with insights and experiences shared by Oleksandr Tsybort, Deputy Minister of Economy for Digital Development; Andy Hunder, President of the American Chamber of Commerce in Ukraine; and Solomiia Pikh, Investment Director at Horizon Capital.
The discussion covered three key topics:
- Political reforms in Ukraine that investors should pay attention to.
- The needs of global companies for confident long-term development.
- Real opportunities for growth in 2026.
The panelists discussed effective strategies, risks, and the current realities of investing capital in Ukraine.
Solomiia Pikh noted that foreign investors are not about charity; they are about profit. She shared the positive experience of Horizon Capital, which, despite the war, not only raised its target funds but exceeded the plan, as the fund’s portfolio companies continue to show excellent results:
International investors are not about charity; they are about profits. And if you show them profits, they will invest, Solomiia remarked.
This sentiment was echoed by Andy Hunder, who shared a story that perfectly illustrates the mood of international business in Ukraine:
I was talking to the general manager of a very large international company and asked how things were going. He replied, ‘Andy, I’m almost ashamed to admit it, but business is going very well.’
In Andy’s view, this is the best proof of the Ukrainian market’s huge potential: companies have adapted and continue to grow, and their experience of doing business during a full-scale war has become unique and compelling for the whole world.
To make it easier for businesses to operate, the state is implementing digital reforms.
Oleksandr Tsybort explained that the main goal is to make the rules of the game transparent and interactions with the state as simple and fast as possible. A priority goal is to transit most licenses and permits to a «declare and operate» principle by the end of 2026.
Andy Hunder outlined the three main needs of international business:
- Security
- People — the ability to reserve key employees from military service
- Predictability — especially in tax policy
To conclude, Andy Hunder offered a meaningful piece of advice to global CEOs:
Investing in Ukraine is risky, but not investing in UkraineMaryna Pavliuknow is even riskier.
It’s hard to disagree.
Today, Ukraine is a country of brave, talented, and hardworking people and resilient businesses. Those who believe in it today, despite the risks, will undoubtedly receive their reward in the form of nice dividends in the future.
