Technologically heeled companies are more optimistic about the future

Despite the difficult economic and political situation in the country, 23% of SMB companies in Ukraine project financial growth within the year. 64% of these optimistic market players make use of information technologies, in particular cloud-computing, according to an Ipsos MORI survey ordered by Microsoft.

According to the survey, 85% of small and 66% of mid-sized companies are using new technologies in their business.

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Jabil Circuit Ukraine to invest $1.5 million in electronics production in Transcarpathia

Having already invested $88 million since it established a base in Uzhgorod, Ukraine in 2004, the US-based manufacturing giant Jabil Circuit announced yesterday that they intend to spend a further $1.5 million for the purpose of boosting manufacturing-capacity for high-tech, complex products.

The company says that this latest investment will be directed towards boosting output by 10%. They have reportedly created 2,000 jobs at their Ukrainian plant, which is tasked with creating several models of Nokia phones.

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Three Ukrainian companies rated “rising stars” in global ranking of IT outsourcing companies

In its annual ranking of the world’s best outsourcing service providers, the International Association of Outsourcing (IAOP) has included three Ukrainian companies among the “Top 5 Rising Stars:” Intetics, Miratech and Softengi made the list, occupying the 3rd, 4th, and 5th spots, respectively.

EPAM and Luxoft – two companies with Russian origins and large development centers in Ukraine – as well as the Ukrainian company SoftServe were included in the “Leaders” category, which characterizes larger, more-established firms.

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Sergiy Tigipko: Ukrainian IT market could increase to $10 billion a year with state support

State support in Ukraine would boost the market for IT services to $10 billion a year, said Ukrainian lawmaker and presidential candidate Sergiy Tigipko.

“Today Ukraine is manufacturing $1.5 billion worth of IT products for export annually and that market is growing by 30%. Therefore, if we create incentives, in the next two or three years we can bring $10 billion worth to that market,” Tigipko said during a visit to the Odeskabel company on Wednesday.

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Virgin boss Richard Branson backs Ukraine’s IT industry

A plan by a group of IT entrepreneurs in Ukraine to help the nation’s economy grow during and after the current political crisis has received backing from Virgin boss Richard Branson. In March 2014, the Ukrainian IT industry set out a list of actions the new national government should take to protect the sector amid political turmoil.

Torben Majgaard, CEO at IT services firm Ciklum, wrote a letter to Ukraine’s economy minister Pavlo Sheremeta, calling for united action to ensure the IT industry in the country emerges from the turmoil stronger.

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Ukraine wants to become the Silicon Valley of Europe

In the last few months, the United States has pledged to Ukraine outspoken support, military food rations, and $1 billion. But what Ukraine could really use during its standoff with Russia, its officials say, is help from American information technology companies.

The Ukrainian Embassy in the U.S. has launched a campaign aimed at Western businesses, urging them to increase their outsourcing services to Ukraine. “It’s high time for U.S. investors and IT companies to really discover Ukraine,” said Olexander Motsyk, the Ukrainian ambassador to the U.S., at a presentation at the embassy Tuesday night.

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Russia seeks to develop startup industry in Crimea

The Internet Initiatives Development Fund (IIDF, or FRII in Russian), a government-backed fund supporting startup development, will open a remote regional accelerator in Sevastopol, Crimea, as soon as this summer, the Russian business daily Kommersant reported last week.

The fund is expecting to support five to seven projects, which will be evaluated on the local and national levels. Funding will be received based on the results of three month’s work in the accelerator.

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“IT outsourcing for democracy” – Ukraine launches promotion campaign in the US

The Ukrainian Embassy to the United States will begin a campaign to support IT outsourcing to the country during its crisis with Russia. The slogan of the campaign, set to begin with an event at Ukrainian embassy in Washington, D.C. on April 29, is “Increase Profits. Support Democracy. Cloudsource to Ukraine.”

IT outsourcing has become a significant source of revenue for Ukraine. According to the embassy, the campaign is an appeal to Western businesses to increase outsourcing IT services to the Ukraine as a way to maintain global stability.

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Coppertino raises $500,000 from AVentures, TA Venture and Torben Majgaard

Coppertino, a Los Angeles-based startup with Ukrainian origins, announced today that it has raised half a million dollars at an undisclosed valuation from leading Ukrainian investment firms AVentures and TA Venture as well as from Torben Majgaard, the Danish founder of Ukrainian IT-outsourcing company Ciklum.

Founded in 2011 by Petro Bondarevskyi and Ivan Ablamskyi, Coppertino has maintained its R&D center in Ukraine. Its main product, VOX, is a minimalist and free music player for Mac capable of handling any audio format.

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Russian and Ukrainian VCs team up to invest in US software startup

As Russia and Ukraine were escalating to a new level of mutual threats and recriminations earlier this week, venture funds offered a welcome illustration that nationalism has not completely spoiled relations between the two countries.

A leading Kiev-based fund, AVentures Capital, has teamed up with two Russian funds, Almaz Capital and ABRT, to inject $3.25 million into StarWind Software, a major US-based provider of software-defined storage for Microsoft Hyper-V environments, in a Series B round.

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