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On Thursday, March 20, as part of the presentation of the annual research of the Ukrainian IT market, the panel discussion “Partnership Without Borders: Generating Shared Value Between Ukrainian IT and Multinational Corporations” took place.
The discussion was moderated by Ievgeniia Bespalova, Strategic Director at Molfar, Private Intelligence Agency, Honorary IT Ambassador of Ukraine from the Ministry of Foreign Affairs. The panel discussion’s speakers:
I consider ‘Digital Tiger’ one of the best studies of the Ukrainian IT market. Clear, high-quality, very illustrative. This year, we can observe new numbers and understand what is happening with the industry in such times,
— commented Ievgeniia Bespalova, Strategic Director at Molfar, Private Intelligence Agency, Honorary IT Ambassador of Ukraine at the Ministry of Foreign Affairs.
The ability to work with risks is an important aspect emphasised by international partners, as it allows finding new opportunities for growth and cooperation with Ukrainian IT companies.
The panelists discussed the growth of joint business partnerships globally over the past five years. Ukraine is chosen as a partner because:
For partners, these characteristics are the core value and competitive advantage of Ukrainian IT – they contribute to effective cooperation and the ability to adapt to changing market conditions.
The main major markets for providing Ukrainian services are the USA, the UK, and Malta. At the same time, it is possible to develop ties with Europe and other ecosystems, but the primary goal should be to promote the Ukrainian IT sector, Ukrainian producers and high-quality products. We are not aiming to conquer as many markets as possible, but rather to focus on increasing exports by 15–30%,
said Andrii Kashperuk, Deputy Chairman of the Board, Director of Retail Business at UKRSIBBANK BNP Paribas Group.
The speakers particularly emphasised that Ukraine has the potential to become a leader in areas such as DefenceTech, MilTech, and CyberTech. In addition, Ukraine’s experience in bioprosthetics — due to large-scale testing and a vast market — is becoming increasingly in demand. Ukraine should also focus more on adding value in AgroTech to raise awareness and attract potential consumers from other countries.
European countries need to adopt Ukrainian experience and knowledge in risk management and business continuity plans (BCP). The Ukrainian sector is one of the best examples in this area, and this is our superpower,
noted Natalia Denikeieva, Director of the IT Development Directorate at the Ministry of Digital Transformation, Head of the Diya City Project Office.
It is important that the industry’s goal should not only be expansion and entry into new areas but also promoting Ukrainian business that operates in large markets.
The Financial Technologies (FinTech), E-commerce (eCommerce), and Retail industries have long been key sectors in the Ukrainian IT market. However, there is potential and desire to expand this list, especially into areas like Artificial Intelligence (AI), Cybersecurity, and Defense Technologies (MilTech/DefenceTech),
emphasised Oleksandr Malinin, Business Development Director at SQUAD.
Major Ukrainian export companies are customer-oriented, flexible with appropriate pricing, and require funding and support to maintain high standards, as well as market awareness for scaling.
I would like to highlight two unique opportunities. First – the high potential of Ukrainian education and the volume of the student market. Ukrainian talent has great prospects for development and the ability to quickly adapt to changes. Second – the optimism with which Ukraine is going through the war. Despite the difficult conditions, Ukrainian business has managed to retain its competitiveness. Although there are more expensive and cheaper locations, Ukraine has firmly positioned itself in its price niche as a leader,
underlined Nazar Popov, Senior Director, Delivery Manager at EPAM Ukraine.
The Ukrainian industry currently mainly operates on transactional outsourcing. Investments in artificial intelligence are an opportunity to gain equal partnership with other countries. It is notable that solutions developed by Ukrainian companies are already among the top 10 in the AI field.
Thank you to everyone who joined the presentation — click here to download the Research.
Digital Tiger: the Market Power of Ukrainian IT — 2024’ is developed by the IT Ukraine Association together with the visual communications agency Top Lead, with the support of the Ministry of Digital Transformation and Ministry of Foreign Affairs of Ukraine. The general partner of the research is UKRSIBBANK BNP Paribas Group.
Partners: EPAM, SQUAD, Intellias, Sigma Software Group, Unit.City.
Research Partners: YouControl, YouControl.Market, AIN, Molfar, Capital Times, Ukrainian Startup Fund, Korn Ferry, Amrop.
Event Water Partner: Morshynska.
