One of the topics at every major economic and investing seminar, and one that has long been a staple of internet blogs and publications, is the growth of IT hotspots. In fact the IT sector is the hottest in terms of innovation and growth on a global level.
This unparalleled growth is fuelled by several factors. The digital age has resulted in not only more information being available for developers, but it has also created a large group of consumers who are actively searching for more content and services. Start-up costs for IT innovations can be fairly low and investors and venture capital groups are fairly open to funding promising larger scale projects. The basic mindset of those in the industry is a big boom for the sector as well as developers tend to be more collaborative then those in other industries. This collaborate nature has led to the development of “Silicon Valleys” throughout the word.
Currently one of the fastest growing hotspots is the Ukraine. Due to the political turmoil and the country’s problematic relations with Russia, this aspect of the Ukraine has gone largely unnoticed by much of the world.
The value of Ukraine’s IT sector is well over $5 billion and the sector employs more than 50,000 workers; more than 2,000 of the companies are considered start-ups. Several large international IT companies have offices in Dnepropetrovsk, the hub of IT activity in Ukraine.
The IT industry in Ukraine is highly diverse from popular dating network Cupid, to game developer WarSpark, to PrivatBank which not only handles online banking and payment systems, but also has an application which manages music in restaurants.
Here’s a look at 7 of the fastest growing IT start-ups in Ukraine.
Branto is all about high tech, next generation devices. Their first product is a small, beautifully designed security device. The device has a 360-degree camera, night vision, motion sensors and a microphone. Users can connect to the self-powered device via a smartphone and see and hear everything going on their home.
Sci-fi writers have been promising us devices that can take us to new places and which can provide highly realistic experiences for decades. Luciding is making that fantasy a reality. The start-up says they have completed the research and are launching the first lucid dream simulator. The simulator, of course, also has a mobile app. If the simulator actually works, this company will stand out as one of the more unusual start-ups of the last few years and the one that perhaps starts us on the road to fulfilling all of the “promises” made by sci-fi writers.
This start-up consists of a team 45 international math geniuses who develop facial mapping algorithms. The app turns the user into a “3D animated avatar” using the camera of a mobile device. Among those looking to use the technology are cosmetic companies and call centres.
LaMetric was developed by the tech savvy people at Smart Atoms, who focus on productivity gadgets. Their first entry into the high tech market is a stylish and innovative electronic dashboard and speaker, which appeals to both the business and personal user. The device can be used as an alarm clock but more importantly allows the user to link to information and RSS feeds that are relevant to them, their business, or their customers.
Kwambio is a useful gadget that could possibly change the shopping world. Users choose from a wide number of products, which are fully customisable. Once the user has made all the changes they wish they can print the product on their 3D printer. They can also share their creation with others Kwambio users.
Ecoisme attracted a great deal of attention when they launched their Indie GoGo campaign and some attracted a great deal of mainstream tech attention. The company developed an app that connects all of the electrical devices via an app to a mobile dashboard. The app receives updates, tips, and usage numbers and allows the user to be more energy efficient.
FlyRe is one of the more famous Ukrainian IT start-ups. The company built an integrated community for risk reinsurance. Users visit the company’s website and request a quote. Within minutes a number of custom quotes are delivered tailed to the user’s specific needs. The site is not only very easy to use, but has been proven to save users time and money.
TransferGO is obviously a big fan of IT based companies, having been an IT start-up not too long ago ourselves. We are pleased that we have been able to help small and medium size businesses in the Ukraine and all over the world save money and time when paying workers based in other countries, buying goods and services in the international market, and selling their products as well.