Sergey Tokarev: Ukrainian tech startups have a future to prosper under the war condition
Since the war started, all aspects of the country were affected, including the Ukrainian IT sector. For this reason, international venture funds and technology companies merged to help Ukrainian IT. The Ukrainian Tech Circle project came out to support Ukrainian startups in response to the full-scale Russian invasion of Ukraine. Sergey Tokarev, the founder of the Roosh technology company, explained the project’s goal and how Ukrainian startups can get assistance in such a difficult time.
Ukrainian Tech Circle: How can it support Ukrainian tech projects?
Ukrainian Tech Circle is a global network to support Ukrainian tech startups and projects affected by the Russian invasion of Ukraine. According to Sergey Tokarev, many domestic tech projects have lost their financial resources and up to 100% of their revenue. Only 1% of all projects could stand for and adapt to the new reality. Among them are Diia, Reface, and Ajax Systems. But the rest, 99%, is left without any funding.
The Ukrainian Tech Circle initiative involves a tight collaboration of angel investors, entrepreneurs, venture capitalists, and tech experts. The project will provide valuable support in three key areas: fundraising, contract sourcing, and advising. Thus, Ukrainian startups will be consulted by tech professionals and receive an opportunity to reach their potential.
The project was initiated by Sergey Tokarev, Den Dmitrenko, a managing partner in the tech company Roosh, and Nina Levchuk, a head of Startup and VC at Google in Central Europe.
What companies and venture firms can Ukrainian techies expect help from?
The international team of Ukrainian Tech Circle consists of many companies, including the Roosh tech company and the Roosh Ventures venture fund. Roosh is a Ukrainian IT company focusing on artificial intelligence and machine learning. Its portfolio incorporates the Reface app, Pawa venture studio, venture firm Roosh Ventures, ZibraAI deep-tech startup, and educational projects AI HOUSE and SET University.
The initiative has also engaged such companies as Neurons Lab, Alma, Google for Startups, TheGuarantors, Libeo, Chamaeleon, Silicon Allee, Powder, and such venture firms as BBQ Capital, Spaceсadet Ventures, Caixa Capital Risc, Chamaeleon, Samaipata, ff Venture Capital.
Is Ukrainian Tech Circle available to all businesses?
All Ukrainian tech startups and businesses that are in great need of support can apply for this project. Venture capitalists, investors, and tech experts also can join the project in order to share their experiences and funding with those who really need this. The application form is available to fill out at the initiative’s website.
As of yet, Ukrainian Tech Circle has received about 50 applications. Sergey Tokarev notes that the number of applications from startups will grow as well as from mentors and partners. He believes this initiative can save hundreds of Ukrainian tech companies that will drive IT in Ukraine as well as in the world in the future.