Lviv Goes Up 99 Positions in the World Global Startup Ecosystem Ranking

05 Jul, 2021

Since 2017, experts have elaborate the Global Startup Ecosystem Index Report using various data and parameters computed by a specially designed algorithm. All the data collected in the research is unique and gathered exclusively based on the information given from global partners around the globe, which allows not only to construct a rating but also to integrate it into the StartupBlink Global Startup Ecosystem Map. One of the main advantages of this platform is that anyone can check what kind of startups are developing in different countries, look at their ratings and differences.

According to Global Startup Ecosystem 2021, Ukraine is ranked 34 on the list of startup ecosystems. It is worth highlighting that we could have a better result as last year Ukraine ranked 29. Nevertheless, each of us faced hard times in 2020 because of COVID-19, so losing only five positions does not indicate bad results.

This year, the ranking included 6 Ukrainian cities among the 1000 best startup ecosystem cities. Kyiv is ranked 1st among Ukrainian cities, but in the world ranking, the capital lost 16 points and took 48th place. The second position among Ukrainian cities was Lviv. The city got higher by an impressive 99 positions and took 255th position. The main success is centered around the talent of Ukrainian developers in whom foreign companies are constantly interested. To live in Ukraine is significantly cheaper than anywhere else, and salaries in the IT industry are pretty prestigious, which allows people to implement ideas into reality and invest in startups easily.

Stepan Veselovskyi, Lviv IT Cluster CEO, commented on the rating results: “We are happy that we can make a positive contribution to the development of the Ukrainian and, in particular, Lviv IT industry. Lviv is constantly progressing, and the current result of this rating demonstrates this. The Cluster’s work, namely the consolidation of IT companies into one community, plays an influential role in our activities. So I hope that in the future, consolidating and supporting each other, our results will only get better.

Hundreds of developers, startups founders, corporations, and other stakeholders use this index to assess the market, user needs, understand how and where to invest, and what strategies to apply. StartupBlink works with numerous global partners such as Crunchbase, Semrush, Meetup, and others to use only validated data.