On February 6, the Diia.City United OdnoRik: Startup Day meetup took place, bringing together key players in Ukraine’s startup ecosystem. The event, marking our first anniversary, was opened by Oleksandr Kosovan, President of the Association, and Volodymyr Mnogoletniy, Head of the Strategic Council.

During the “Welcome Hard Talk: Three Tips I’d Give Myself When Starting My Business Journey” panel discussion, the founders of MacPaw and Genesis explored the challenges faced by Ukrainian startups during the war and the opportunities for business growth in times of crisis. Natalia Mykolska, Executive Director of Diia.City United, moderated the conversation.

Key insights from the discussion

Volodymyr Mnogoletniy, Founder & CEO of Genesis, Head of the Strategic Board at Diia.City United:

Launching a startup today isn’t just about making money or building a company. It’s about increasing the likelihood of success – from 3% to 20%.

Mnogoletniy believes that building a business in Ukraine today is tougher than ever. The biggest obstacles? Limited access to capital and the struggle to find skilled professionals.

Even for large companies like Genesis or MacPaw, hiring talent is much harder today than it was two or three years ago, before the full-scale war, he admits.

His own business journey hasn’t been just about success – it’s also been about mistakes, failures, and financial losses. Yet he never backed down, even after his first business crashed. Because persistence is what separates leaders from the rest.

Essentials for a Winning Startup Launch by Volodymyr Mnogoletniy:

✔️ High-Conviction Idea
You must be absolutely confident that the idea you’re pursuing is the right one. Today, this matters even more than it did five years ago.

✔️ Business Experience
If you’re planning to build a mobile app, you should work in a company that develops apps for at least five years. If you don’t have solid experience in the industry you’re entering, I wouldn’t recommend starting a startup.

✔️ Money
From day one, you need to think about how to secure funding. In my field – consumer internet – it’s impossible to build a company without several million dollars.

✔️ A Lot of Luck
Luck is crucial if you’re planning to build a business.

Mnogoletniy emphasizes that even having all four of these elements doesn’t guarantee success – it only increases the odds. However, if you’re lacking at least one of them, that’s a serious reason to reconsider.

Building a business requires an enormous time investment. And throughout that time, you gain invaluable experience.

Oleksandr Kosovan, Founder & CEO of MacPaw, Co-founder of SMRK VC Fund, President of Diia.City United:

We’ve been through so much hardship that we’d probably recommend not starting a business at all. But in reality, you often have to do the opposite of what experienced entrepreneurs say – because a lack of experience often leads to unpredictable, unexpected solutions.

Kosovan doesn’t believe in one-size-fits-all advice:

We are all in different circumstances. When I started in 2008, Ukraine was a completely different country with different opportunities and a completely different investment climate. The advice that worked back then may not necessarily apply today.

Essentials for a Winning Startup Launch by Oleksandr Kosovan:

✔️ A Clear Vision
When starting a company, you need a clear vision – who your product is for, what problem you’re solving, and how you aim to improve the world.

✔️ A Strong Team
Bringing together the right people who share your vision and support you significantly increases your chances of success.

✔️ Resources
When I started, I was a student with zero income. The only real resource I had was my time. So, while money is important, it is not the only thing that matters.

✔️ Data
You need to track real data on your product performance, the effectiveness of your marketing campaigns, and what actually drives results. Analytics is critical – it helps you understand what grows your business and what wastes time and money. And it should be built into your processes from day one.

A Timeless Piece of Advice from Natalia Mykolska, Executive Director of Diia.City United:

Unite! Our Association was created to help smaller companies leverage the resources of larger ones. If you’re a small business, join us!