In the Ukrainian Startup Ecosystem 2025 report, dedicated to the work of startups during a full-scale war, the most frequently mentioned barrier was lack of money. Next on the list of problems: difficult entry into foreign markets and difficulties with hiring people.
In the Ukrainian Startup Ecosystem 2025 report, dedicated to the work of startups during a full-scale war, the most frequently mentioned barrier was lack of money. Next on the list of problems: difficult entry into foreign markets and difficulties with hiring people.
According to the Ukrainian Startup Ecosystem 2025 (PUSB) report, 30,04% of respondents cited lack of access to financing or investment capital as a key challenge. The second most common challenge is international expansion: 20,16% say they have difficulty entering global markets or scaling abroad. The third major problem is human resources: 15,64% mentioned difficulties in finding qualified specialists. The impact of the political situation and war in Ukraine was noted by 14,40% of respondents. Also, 8,23% indicated a lack of support from local authorities or problems with regulation. Less frequently mentioned were the lack of a network and mentors in the startup industry (4.12%), technological or infrastructure difficulties (3.29%), and supply chain failures (2.06%). Since the answer was multiple, the sum of the shares exceeds 100%.
Separately, the authors provided a breakdown of fundraising. Over the past year, 78,5% of teams at least tried to seek funding: 39,25% reported that they succeeded, and the same number tried but failed. Another 21,50% did not go out to seek money. Despite financial difficulties, when asked about the situation compared to 2024, 69,16% assessed 2025 more positively, 17,76% answered «neutrally,» and 3,74% «negatively.»
The survey was conducted from September 23 to October 31, 2025. 107 startup representatives participated in it, and for deeper context, the authors conducted 25 more interviews with founders. Founders and co-founders dominated the respondents — about 67% of the responses.
Previously, dev.ua wrote about how over 50 Ukrainian startups in the field of defense technologies attracted over $105 million in investments and grants in 2025. According to the Ministry of Digital Affairs, this is approximately a third of all early investments in defense tech in Europe, including the United Kingdom.
