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Ukraine ranks among the top 30 countries for startups

In recent StartupBlink global startup ecosystem report 2020, Ukraine ranked 29th among 100 startup-friendly countries. Ukraine has jumped two positions in the ranking compared to the last year and now placing in the top 30 countries worldwide.

According to the research, Kyiv listed 8th among capitals in Europe after such cities as London, Berlin, Paris, Amsterdam, and 32nd in the world that shows results that many European capitals can only dream of.

The research measures three main categories to evaluate the ecosystem in which startups operate: the number of startups, their quality, and the business environment in the country.

Currently, Ukraine has 462 startups. In terms of the number of startups, Ukraine scores 0.84 just insignificantly less than many other European countries. For instance, Poland has 1.19 scores, Russia – 1.94, and Hungary – 1.00.

Meanwhile, the local state authorities should continue working on the improvement of the quality of life and infrastructure in the country to make sure its talented entrepreneurs will not leave Ukraine. Especially, when now a visa to Europe is no longer needed and Poland is smartly opening its doors for Ukrainians.

Ukraine’s quality score is 2.18 which is higher than in Austria, Poland, the Czech Republic, Italy and Belgium.

The top 4 positions in the country ranking are occupied by the US, the United Kingdom, Israel, and Canada. Ukraine is ahead of Taiwan (30th) Portugal (31st), and Bulgaria (32nd), while behind Austria (28th), Poland (27th), and Czech Republic (26th).

“The Ukrainian startup ecosystem is truly inspiring. The country has been going through economic difficulties for several years but still manages to create technology that is scalable and global. Some examples of companies that originated in Ukraine are Grammarly, Gitlab, and Ahrefs, all with a massive member base,” stated in the research. Among the main reasons for Ukraine’s success is the high quality of the country’s developers who are sought after by many foreign companies.

In case if the pace of innovations in Ukraine continues, it can achieve an even larger leadership role in the global startup ecosystem, the study stated.

StartupBlink is the world’s most comprehensive startup ecosystem map and research center which provides an annual Startup Ecosystem Rankings Report with the trends of innovation throughout 1,000 cities and 100 countries.

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