The Ukrainian Tech Circle initiative plans to bring together international venture funds and technology companies that are ready to support Ukrainian IT projects. Sergey Tokarev, the founder of the tech company Roosh and one of the initiative’s prime movers, describes in detail its goals and what kind of support techies can count on.
How is Ukrainian Tech Circle going to help techies?
The idea of establishing the Ukrainian Tech Circle belongs to Tokarev, Dan Dmitrenko, a managing partner in technology company Roosh, and Nina Levchuk, a head of Startup and VC at Google in Central Europe. The global initiative objective is to mobilize venture investors, business angels, and technical experts to support the Ukrainian IT sector affected by the Russian invasion. In addition to advice from tech specialists, the project participants will get assistance in raising funding for their startups, as well as an opportunity to enter into contracts with new clients.
Sergey Tokarev stresses that a lot of Ukrainian tech projects simply do not have enough of their own financial resources, and their income has dropped to almost nothing due to the war. About 99% of such teams are in desperate need of financial injections now. However, there are some projects that were able to survive in the new reality, for example, Reface, Diia, and Ajax Systems.
According to the Roosh founder, the Ukrainian tech landscape is very promising, and the country’s IT engineers are famous for their talents all over the world. Tokarev emphasizes that supporting local techies will help Ukraine to attain the status of Europe’s AI hub.
Despite the unprecedented challenges created by the Russian invasion, Ukrainian Tech Circle will focus its efforts on helping startups from Ukraine in three core areas: raising investments, finding, and contracting clients, and advising.
Ukrainian Tech Circle team
At the moment, many companies have already joined the initiative, including Roosh, the company specializing in artificial intelligence and machine learning. Recall that its successful cases include the Reface app, ZibraAI deep-tech startup, as well as venture projects Roosh Ventures and Pawa. The company’s ecosystem also includes educational projects SET University and AI HOUSE.
The companies Alma, Google for Startups, Libeo, Powder, Chamaeleon, venture capital firms ff Venture Capital, Roosh Ventures, Caixa Capital Risc, and others have also joined the team. Tokarev is sure that the number of project partners will only increase.
Who can apply for participation?
According to Sergey Tokarev, any Ukrainian technology project that needs financial support or the help of mentors can apply for participation. The application form can be found at tthe initiative’s website.
As of now, the project organizers have already received about 50 applications and there are more to come. Moreover, the project team is constantly replenished with venture funds, investors, and tech businessmen who are ready to finance Ukrainian startups and advise their founders.