Ukraine has become a focal point for global technology companies. The factors shaping its attractiveness for international business were examined by participants in a panel discussion at the 2U Tech Forum, moderated by Maria Shevchuk, Executive Director of the IT Ukraine Association.
Speakers included representatives from major international corporations and government: Anna Bulakh, Head of Government Affairs and Public Policy for Ukraine at Google; Yevhen Kahanovskyi, CEO of Microsoft Ukraine and the Baltics; Natalia Denikeeva, Deputy Minister of Digital Transformation; and Oleksandr Kurkin, Board Member of Crédit Agricole Bank Ukraine.
Key insights from the discussion:
- Ukraine as a global innovation testbed. Ukraine has become a unique environment in which technologies are stress-tested under conditions of a “perfect storm”. It is the world’s foremost example of technologies born out of necessity — the most powerful driver of speed and quality in development — and the only case globally of a successful transition from resilience to the systematic creation of innovation during wartime.
- From DefenceTech to Omni-use. The defence technology sector, valued at $6.8 billion, has become a catalyst for the broader market. Ukraine is already moving beyond the dual-use paradigm towards an Omni-use model — developing universal technologies that will be critically relevant to global needs in healthcare, energy, and analytics in the post-war period, regardless of their initial application.
- AI and cybersecurity: experience that protects the world. For global tech giants, Ukraine represents the most significant proving ground for capability development. Companies emphasise that the attacks being repelled in Ukraine today will be scaled against NATO members and democratic partners tomorrow. Work conducted here, therefore, contributes directly to the development of global protection standards. Artificial intelligence is already enhancing Ukrainian GovTech: the integration of Gemini into the Diia application demonstrates how AI can function effectively at a national level.
- Investment climate reform. The government is actively working to ensure that capital flows into Ukrainian legal entities. The Ministry of Digital Transformation, in collaboration with the Securities Commission, has developed amendments that will enable the establishment of venture funds within considerably shorter timeframes. The objective is to simplify procedures and improve accessibility so that capital remains within the country.
- A signal to the world. Direct investment during wartime serves as a powerful indicator of confidence — confirming that Ukraine is firmly embedded within the European financial ecosystem as a strategic bridge between EU member states.
- Ukraine’s foremost asset: its people. Investment must first be directed towards people and upskilling, before any commitment to software or infrastructure. It is precisely the readiness of Ukrainian teams to undertake highly complex technical migrations that underpins the success of transformations.
- Technological optimism among Ukrainians. Ukraine benefits from high public trust in digitalisation. Ukrainians adapt rapidly to new technologies — from everyday use of QR codes to the introduction of AI in schools. This openness to experimentation enables businesses and government alike to integrate products at record pace.
During the discussion, Maria Shevchuk drew attention to the potential of Ukraine’s IT sector, citing findings from the Code of the Economy research. According to the study, had Ukraine developed at the pace of Poland, Romania, or the Baltic states, IT exports in 2025 could have reached $10.5 billion; under a scenario of steady annual growth of 20%, that figure could have been $14.5 billion. As a result of the war, the sector has foregone between $9.4 billion and $17.8 billion in export revenue. Actual exports in 2025 stood at $6.66 billion — once again demonstrating the resilience of Ukraine’s technology sector and its integration into the global market.
Our thanks go to the speakers for a candid and substantive conversation, and to UNIT.City and Diia.City Union for organising such a landmark event.
