According to Sergey Tokarev, a co-founder of the Roosh IT company, in the year and a half since the full-scale invasion, the Ukrainian information technology sector has faced serious problems that have harmed its dynamic development in recent years. In the first quarter of 2023, the development of technology projects decreased by 16% compared to the previous year. Ukrainian companies specializing in services have lost many contracts, and it has become impossible for companies involved in developing various projects to attract new investments.
Sergey Tokarev, an international IT investor, voices that this scenario is primarily associated with armed actions and the risks of violating international standards, which repels foreign companies from the possibility of cooperating with Ukrainian outsourcing developers and investing in innovative projects. Moreover, we can observe a global trend of slowing down the development of information technology and massive layoffs in the world's largest technology corporations. These changes are explained by global economic transformations, including the armed conflict between Russia and Ukraine, which significantly impacted the global economy and the structure of the information technology industry.
Despite the decline in IT development in Ukraine, Ukrainian talents do not let them forget about themselves abroad. One can also single out new companies with Ukrainian roots and open their doors in other countries while leaving their back offices in Ukraine. This trend attracts attention and demand like a magnet, which, according to Sergei Tokarev, is a positive development. Such a development of events allows Ukrainian entrepreneurs to enter the global arena and significantly increase the likelihood of attracting investments from major international players.
Sergey Tokarev emphasizes that to support the development of the IT sector, it is essential to actively develop Ukrainian venture funds that will invest their resources in Ukrainian startups. This process is already underway, and the entrepreneur hopes that, over time, it will become an integral part of the country's investment infrastructure and the number of venture funds will increase.
The investor focuses on startups in defense technologies (MilTech), as they have been actively developing in Ukraine lately.
Given the constant demand for defense technology solutions, he believes this trend will continue. This, in turn, means funding for such projects will be available and supported.
At the same time, to support the development of technological sectors, it is necessary to actively invest in technical education, especially in its practical component. Sergey Tokarev emphasizes the importance of young university graduates having a clear idea of their prospects and opportunities after graduation. To do this, they must be allowed to work on relevant business cases during their studies. For example, at SET University, founded by Sergey Tokarev, students have the opportunity to apply their knowledge to develop solutions that are in demand by modern technology companies.
Sergey Tokarev argues that the Ukrainian IT sector will not be able to return to the level of development characteristic of the period before the start of the war due to various risk factors associated with the current military situation. However, he emphasizes that the active promotion of the Ukrainian IT industry on the world stage and the creation of the necessary infrastructure for work in the post-war period can lead to the industry's rapid growth in Ukraine after the end of the conflict. According to Tokarev, the country has all the prerequisites to become a world leader in technology and strengthen its position as an essential Eastern European center for artificial intelligence and machine learning, which, in turn, will attract many foreign investors.