IT Part Of Solution In Ukraine, But More Innovation Needed — Tech Investor Bohdan Kupych

What You Need To Know:

✅ Latest figures show that Ukraine's IT field made at least USD 1.5 billion and over 90,000 people are currently working in the field;
✅ On retaining Ukraine’s young talent: “IT is part of the solution, but it’s more innovation;”
✅ “The ecosystem which supports entrepreneurship and startups is very weak in Ukraine;”
✅ While outsourcing is a good way for young people to have good jobs, often times, the Ukrainian engineers are “working for the benefit of somebody else.”

The IT and innovation sector in Ukraine is booming. Over the past few years, exports have grown substantially, especially in the field of software development. Latest figures show that Ukraine's IT field made at least USD 1.5 billion and over 90,000 people are currently working in this field.

While many believe that this industry is key in retaining Ukraine’s young talent, Bohdan Kupych, Vice President of business development at KM Core says, “IT is part of the solution, but it’s more innovation.” While he acknowledges Ukraine’s great potential, he thinks that the Ukrainian government and business need to work together to convert this potential into value.

“The ecosystem which supports entrepreneurship and startups is very weak in Ukraine,” says Kupych. When compared to country like Poland that has invested in IT infrastructure and has become as competitive as their EU counterparts, Ukraine has failed to invest in new technologies to become more productive and competitive.

Kupych adds that the IT industry inside Ukraine has dropped significantly and much is outsourced. He says that while outsourcing is a good way for young people to have good jobs, often times, the Ukrainian engineers are “working for the benefit of somebody else.”

Hromadske’s Tamara Rozouvan and Maxim Eristavi spoke to Bodhan Kupych, Vice President at KM Core Tech Investment during live broadcast of The Sunday Show on October 9th, 2016 in Kyiv.