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$25B and Rising: Ukraine’s Startup Growth
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Since 2020, the estimated value of the Ukrainian startup ecosystem has tripled to more than $25 billion.
According to recent estimates, there are approximately 2,600 startups in Ukraine, of which around 2100 were founded by Ukrainian crews and more than 500 foreign startups that have opened offices in Ukraine. This growth of startups in Ukraine is facilitated by the accessibility of digital public services; the speed and ease of starting a business online; and a significant level of opportunities because of reduced competition caused by ongoing war, favorable taxation and availability of financing. In this text, we will take a look at five examples of innovative startups in Ukraine.
Esper Bionics
Esper Bionics develops state-of-the-art multifunctional hand prosthetics. The company envisions human augmentation as the key to unlocking humanity’s full potential — enhancing physical capabilities, transforming lives, and increasing longevity. To achieve this, Esper Bionics is dedicated to advancing technology that improves lives and aims to create the world’s first bionic ecosystem of interconnected devices. In 2019, Esper Bionics won the international engineering startup competition Vernadsky Challenge. By 2020, the company had developed its first prototype and provided it to an initial user. In 2021, the prototype was registered with the FDA, opening access to the U.S. market. By 2023, the company began mass production of its first product batches.
Esper Hand is one of the lightest bionic hands, weighing only 380g. The technology enables intuitive control, mimicking natural movements. The Esper Control system seamlessly translates natural muscle movements into precise hand motions, using 24 sensors that detect and process the activity of 20 forearm muscles to activate the prosthetic. Advanced machine learning algorithms predict movements in real time, ensuring smooth operation in various situations. Thanks to fast activation and effortless control, users experience more efficient and less tiring prosthetic use. Additionally, the bionic fingers are touchscreen-compatible.
Esper Bionics provides free hand prosthetics to Ukrainians affected by the war, along with informational support on the prosthetic process and adaptation. The company also trains prosthetists to work with modern bionic hands and facilitates collaboration between Ukrainian organizations and experts in the field, promoting knowledge and experience exchange. According to the latest company data, 500 Ukrainians have sought prosthetics through Esper. Given the war’s impact, this technology is critical, as estimates suggest that between 35,000 and 50,000 Ukrainians require prosthetics.
Number of Ukrainians who have sought prosthetics through Esper | Number of Ukrainians who require prosthetics |
|---|---|
500 | ~35,000–50,000 |
Learn more: Esper Bionics
Releaf Paper
The Releaf technology has been in development since 2017, initiated by a 16-year-old student from the Zakarpattia region. With a passion for biotechnology and a mission to preserve the Carpathian forests, he sought an alternative raw material for paper production. His revolutionary idea —paper made from fallen leaf fibers — led to the first prototypes appearing in 2018.
In 2021, Releaf Paper was founded. The company produces eco-friendly packaging from innovative leaf-based paper to meet the needs of Ukrainian and European retailers. The company is determined to revolutionize the packaging industry, collaborating with global brands to promote the use of green waste as a sustainable raw material, eliminating the need for traditional tree-based paper. Releaf’s renewable production process operates without harmful chemicals, reducing CO₂ emissions by 78% compared to conventional paper production. Every ton of paper made from fallen leaves saves 17 trees from deforestation. Additionally, packaging produced with this technology is reusable and recyclable, making it a true zero-waste solution.
Releaf’s renewable production process reduces CO₂ emissions by | Every ton of paper made from fallen leaves saves |
|---|---|
78% | 17 trees |
Learn more: Releaf Paper
Datrics AI
Datrics AI Platform and AI Analyst are secure tools that leverage advanced artificial intelligence to process business data, learn unique terminology, workflows, and metrics, and provide instant analytical insights that can be used for decision-making. AI Analyst operates 24/7, continuously monitoring data and generating insights without human supervision. The core idea behind Datrics AI is to reduce the time from raw data collection to actionable business results. The tool offers automated conversational analytics, applying a full-cycle data processing system and AI-powered analytics that help businesses move from ideas to production in just a few weeks.
By using machine learning, Datrics AI improves with each interaction, learning the business context and adapting to specific needs. It consolidates and analyzes data from all sources, providing a comprehensive business overview. The platform identifies trends, predicts outcomes, and alerts users about opportunities and risks before they materialize.
Who Uses Datrics AI?
- Software development companies — integrate AI-driven analytics directly into their products, enhancing user experience with insights and automating data analysis and reporting.
- Recruitment and HR teams — use AI-driven candidate selection, analyze thousands of profiles in seconds, and predict candidate success and job fit.
- Sales and marketing teams — apply real-time analytics and forecasting, optimize pricing and branding, automate conversion rate improvement, and detect customer behavior patterns.
- Finance and risk management teams — receive automated financial analysis and reporting, and assess creditworthiness and risks in real time.
Learn more: Datrics AI
Respeecher
Respeecher has developed a cutting-edge AI-powered voice generation technology that transforms text into speech. Unlike traditional speech synthesis, its innovative platform creates high-quality synthetic speech that sounds natural and expressive. Using advanced AI models and proprietary deep learning techniques, Respeecher generates authentic, emotionally rich voiceovers in multiple languages and across various industries. This technology doesn’t just generate sound — it captures human emotions, preserving natural intonation and emotional depth with sophisticated linguistic algorithms.
Who Uses Respeecher?
Respeecher is widely used by Hollywood studios, TV producers, game developers, podcasters, and other creators of audiovisual content. The technology enables the creation of complex audio productions with authentic AI voices for various languages and accents. One of its notable projects includes synthesizing the voice of young Luke Skywalker for The Mandalorian series on Disney+. At the same time, the company strictly enforces ethical guidelines to prevent the misuse of synthetic media.
Beyond entertainment, Respeecher is transforming lives by helping patients with speech impairments regain their voices. The company is researching ways to use its technology for individuals with laryngeal cancer, working with electro-laryngeal and tracheoesophageal speech samples to enhance their clarity and articulation in real time.
Learn more: Respeecher
Creatio
Creatio is a cutting-edge, AI-driven no-code platform designed for process automation and customer relationship management (CRM). The company’s overarching mission is to foster a world where organizations can fully harness the power of automation, unencumbered by the complexities of traditional coding, through no-code technologies.
The platform enables users to design and optimize business applications effortlessly using intuitive visual tools and natural language interfaces. As an AI-native solution, Creatio seamlessly integrates agent-based, predictive, and generative artificial intelligence, making it a truly intelligent system. This innovative solution empowers companies to drive revenue growth, enhance sales performance, boost productivity, and elevate customer experiences through intelligent CRM automation. It serves as a comprehensive, full-cycle platform for managing both internal and external services. Creatio provides pre-built automation solutions for a diverse range of industries, including banking, lending, insurance, manufacturing, government, retail, telecommunications, and more. Valued at $1.2 billion, the company boasts a network of 700 partners spanning 100 countries worldwide. Creatio is consistently recognized as a leader and pioneer in its field, with accolades from Gartner and Forrester in their industry rankings.
The company’s estimated value | The company’s network of partners |
|---|---|
$1.2 billion | 700 partners from 100 countries |
The article was prepared by the Kyiv Global Government Technology Centre Team. The Centre is supported by the World Economic Forum, the Ministry of Digital Transformation of Ukraine, and Switzerland under EGAP Program, implemented by East Europe Foundation.
