Volodymyr Mnogoletniy, CEO of the Ukrainian IT company Genesis, explained why it continues to operate in Ukraine despite the risks of a full-scale Russian invasion.
Volodymyr Mnogoletniy, CEO of the Ukrainian IT company Genesis, explained why it continues to operate in Ukraine despite the risks of a full-scale Russian invasion.
He reported this in an interview with «Forbes Ukraine». According to him, frequent communication is crucial during a crisis.
«When the full-scale war started, we communicated with the team almost hourly, and it worked. We also organized daily communication with the start of shelling of energy facilities», — said Mnogoletnyi.
He added that operating in Ukraine is a risk, and explained why Genesis continues to carry it out here, instead of moving it abroad.
«First of all, hiring in Ukraine is interesting from a business point of view. Secondly, there is the factor of patriotism. And from a pragmatic point of view, it is easier to hire here — it is a monoculture. If you hire people in Poland, you need the company to work in English», — says CEO Genesis.
In his opinion, companies need to be «quick» to survive on the Ukrainian market, and those who can quickly integrate artificial intelligence tools into their work «will be the winners.»
«Genesis is a well-built operations company, and I believe we will be among the top users of AI. And I don’t see any risks here at all», — added Volodymyr Mnogoletnyi.
According to him, a big challenge in Ukraine is the lack of money to start a new company. The second is that there are not enough people who are ready to start a new company.
«Before the start of the full-scale war, 5-10 consumer companies per year were started in Ukraine. Investing in most of them was very profitable and even interesting. But now most of the investments are internal investments of companies», — CEO Genesis notes.
Mnololetnyi also said that the company has almost no sales in Ukraine — most of its products are free for Ukrainian users. According to him, Genesis' business is more influenced by what is happening in the US or African economies. «People’s condition is affected, and this is a big problem. They are very frightened by what is happening. And this creates strategic challenges», — he explained.
CEO Genesis added that he is currently solving about 10 difficulties of the company, including mobilization and work during power outages.
