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Ukraine presents IT export potential at largest Scandinavian tech conference

Entrepreneurship and Export Promotion Office, posted 08 May 2023 11:26

On May 3-4, the largest Nordic technology conference – Stockholm Tech Show 2023 – took place in Sweden. The event brought together thousands of buyers, investors, developers, stakeholders and technological innovators from the IT sector, including representatives of Microsoft, Amazon Web Services, Tata Consultancy Services, Truesec, H&M, Knowledge Factory – Advania, and others.

The main topics of the conference were: AI & Big Data, Cyber Security & Cloud, Data Centre, DevOps, Mobility. For the first time, Ukrainian companies were represented at the event by a joint stand of Ukraine, organised by the Entrepreneurship and Export Promotion Office, the national project Diia.Business, and Open Trade Gate Sweden in cooperation with the IT Ukraine Association.

The export potential of the IT sector was presented by 10 companies: WE/AR Studio, TRIARE Systems LLC, Integrity Vision, STFALCON, Geniusee, Computools, DataMix, InDevLab, Lampa Software, SoloWay Technologies. Among them are teams that create AR/VR projects, develop software, and provide digital business transformation services. More information about the participants can be found in the catalogue of company profiles here.

During the two days of the conference, Ukrainian companies held about 400 business meetings with representatives of foreign companies from Sweden, Finland, Norway, Germany, the Netherlands, the UK, the USA, Israel, Poland, the Czech Republic, Denmark, and Switzerland. Ukraine’s participation in such a large event helped, among other things, to establish new and strengthen existing business ties, demonstrate the competitiveness and prospects of the Ukrainian IT sector, and improve the export of IT products.

During the conference, Olena Berestetska, Head of International Cooperation at IT Ukraine Association, presented “Do IT like Ukraine” – a study of the IT industry development in 2022, the achievements and unique expertise of Ukrainians in business development under the extreme conditions of a full-scale war. Ukrainian companies Computools, LAMPA – Comfy Software Development, Integrity Vision, WE/AR Studio shared their cases on the implementation of the latest technologies with the guests of the tech event. Ambassador of Ukraine to Sweden Andrii Plakhotniuk also visited the Ukrainian stand to support the event.

Situation in the IT sector:

  • The Ukrainian IT sector was the only export industry to show positive growth in 2022, with an increase of 5.8% over the pre-war year.
  • Thanks to its flexibility and responsiveness, the sector generated USD 7.3 billion in export revenues for the Ukrainian economy.
  • As a result of the full-scale invasion, 70.8% of IT companies undertook unplanned relocations, a quarter of them relocated completely. 16.7% of companies have partially or fully relocated abroad.
  • The geography of companies’ relocation has been changing, and the top 10 countries now include: Poland, Germany, the USA, Portugal, Bulgaria, the Czech Republic, Romania, Moldova, Spain, and Canada.
  • 81.5% of IT companies that have relocated abroad still plan to return to Ukraine when martial law is lifted and hostilities cease completely.
  • In April-May 2022, the western regions hosted the following number of IT companies: Lviv region – 563, Ivano-Frankivsk region – 115, Ternopil region – 94, Zakarpattia region – 61, Rivne region – 51, Chernivtsi region – 41, Volyn region – 35.
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