Ukraine is in the TOP-4 in Europe in terms of startup support
21 February 17:49
Ukraine is ahead of 20 European countries and ranked fourth among the countries that best support startups, as evidenced by the European Startup Nations Alliance (ESNA) report for 2024. This was reported by the Ukrainian Startup Fund, according to
The rating reflects how effectively countries create conditions for the development and scaling of technology companies. The leaders in this list are France, Spain, and Lithuania.
Ukraine’s overall result in the implementation of startup support standards is 73% and is significantly higher than the EU average of 61%.
In what indicators did Ukraine receive the maximum points?
Speed of business creation – 100%.
Ukraine has demonstrated an extremely high level of efficiency, allowing entrepreneurs to register companies in just one day through the Diia portal. Currently, only 17% of European countries have this level of speed, and Ukraine is among them.
Access to funding is 100%.
The activities of the Ukrainian Startup Fund have been recognized as a model of effective policy in providing financial support. Thanks to these initiatives, Ukraine received 100% points for the Access to Finance standard. The fund’s programs help Ukrainian startups get the funding they need to develop innovative projects, which is critical to creating a competitive ecosystem.
Digital technologies and availability of digital services – 100%.
This achievement demonstrates the high level of development of digital infrastructure, which provides convenience for citizens and entrepreneurs, and creates a favorable environment for doing business in Ukraine.
Tax regulation and options – 100%.
Ukraine has a favorable tax regime for tech companies called Diia.City. Among the many tools available to startups are options. This financial instrument allows startup employees to purchase shares in the company.
At the end of November, Ukraine joined the European startup nations thanks to the entry of the Ukrainian Startup Fund into the European Startup Nations Alliance (ESNA), a European initiative that brings together countries that create the best conditions for startup development. This allowed Ukraine to be included in the ecosystem’s reports for the first time, which record key achievements and implementation of standards that determine its competitiveness in the European innovation space.
The European Alliance includes 26 EU countries, Iceland and Ukraine.
Ukrainian startups are among the fastest growing in Europe
Ukraine’s startup ecosystem is among the three fastest growing in Central and Eastern Europe and the fourth most valuable in the region. This is according to a report by u.ventures. Ukraine also ranks second in the region in terms of IT outsourcing.
In the global ranking for 2024, the Ukrainian startup ecosystem took 46th place, while in 2022 it was ranked 50th. Ukraine is also seventh in the world in terms of competitiveness in the IT sector.
