In a preemptive effort to trigger capital inflow into Ukraine for the post-war era, Deep Knowledge Analytics (DKA), the flagship subsidiary of Deep Knowledge Group, today announced the launch of the beta version of a data analytics platform that aims to attract $1 billion in AI and DeepTech investments to Ukraine over a foreseeable period of time. DKA has previously created similar platforms that cater to DeepTech sectors in the UK and Switzerland.
Link to the Ukrainian AI and DeepTech data analytics platform: www.invest-in-ukraine.tech
DKA’s post-war rebuilding effort aims to support Ukrainian entrepreneurs and companies in finding the right partners, raising capital and gaining access to the data, tools and expertise they need to set up and scale their businesses. The platform will also allow Ukrainian companies to automate and manage their relationships with existing and potential partners and investors.
It enables international investors to identify, assess and directly invest, choosing from 450 Ukrainian DeepTech and AI companies that were mapped in DKA’s recent DeepTech and AI Ecosystem in Ukraine report. An analytical case study also details 250 investment funds and angel investors represented on the platform.
The influx of capital this platform aiming to achieve is meant to shift Ukraine’s pre-war position from a tech outsourcing hub to becoming one of the leading international tech centres in Europe following the war. In 2021, Venture Capital and Private Equity investments in Ukrainian companies applying AI stood at $440.9 million, significunt increase from the drop in 2020.
According to a Ukrainian Startup Fund survey, since the start of the war 71% of Ukrainian startups haven't relocated abroad, 39% are dealing with quite a short cash runway and 28% decided to pause their operations. The DeepTech and AI platform represents the cornerstone of tech business recovery, which is a key pillar in the redevelopment of the overall Ukrainian economy.
Emma Brodina, Deputy Managing Partner at Deep Knowledge Group, said: “Ukraine stands every chance of becoming a new DeepTech and AI hub in the heart of Europe. We are glad to assist Ukrainian companies in their fundraising by providing the first iteration of our analytical platform, which will connect investors and startups, inform investment decisions, and enhance tech innovation across the country. We are working on the next iteration which will also facilitate LegalTech and InvestTech components, accelerating investments in Ukrainian tech companies by international investors.”
Prior to the war, Ukraine held a leading position in the AI field across Eastern Europe. According to the 2020 Oxford Government AI Readiness Index, Ukraine was the number one AI provider in Eastern Europe with 150 recognized companies. Capitalizing on the country’s strong tech foundation, this platform aims to provide the sector with a much-needed push for recovery. And according to IT Ukraine Association, the growth rate of the IT services market in Ukraine stands at 20-25% annually as of the beginning of 2022.
“Ukraine's unique approach to regulating private medical facilities creates a rare opportunity for the most advanced regenerative treatments. Precision Medicine empowered by AI and DeepTech synergy will be a crucial element in post-war national health restoration. The emerging sector of Regenerative Medicine and Digital Healthcare solutions will provide a baseline for the country's recovery”, said Andrii Savitskyi, Head of Longevity Analytics at Deep Knowledge Group.
The world’s AI industry players have always recognized the talent of Ukrainian AI and Machine Learning engineers. Ukrainians have been known to hold leading positions in top AI companies globally. Due to the establishment of specialized R&D centres in the country, Ukrainian specialists are able to exchange tech knowledge with peers from global markets including the US and Europe. In addition to relatively high levels of English language proficiency, proactivity and flexibility, Ukrainian AI engineers strive to constantly enhance their expertise by keeping abreast of the latest global tech trends and developments.
“AI and DeepTech technologies have a direct impact on economic growth. An example is the use of space technologies for precision agriculture, when AgriTech companies, using satellite vision combined with Data Science and AI, can apply predictive analytics of soil, weather and other factors for more efficient harvesting”, said Dmytro Kharchenko, Head of SpaceTech Analytics.
DeepTech and AI companies have a multiplier effect on other sectors of the economy due to their disruptive nature and practical applications. In this context, a $1 billion investment in Ukrainian tech companies will have a profound impact on the country’s economy.
