Leading in Crisis: From Ukraine to the UK

As we are approaching the nine-month mark since the beginning of the unprovoked Russian invasion of Ukraine, I wanted to talk about the Ukrainian start-up ecosystem. As I have previously discussed – no one has prepared us to be CEOs during wartime. We learned how to live with the everyday threat to us, our employees or our families, and also convert the anger and frustration into fuel to drive our businesses forward.

?While our habits and priorities have had to shift from inhabiting shared office spaces to (bomb) shelter spaces, from coveting our gym memberships to needing to source electricity generators and hot water showers being available to employees, and from imbuing a hustle culture then, to empathy culture now – resilience and desire to grow remained unchanged.

Before February 24, 2022, Ukraine had – and still has –?one of the fastest-growing start-up ecosystems in Europe. In 2021 Ukrainian IT exports grew 36% year-on-year to a total of USD 6.8 billion, representing 10% of the country's total exports. Now, 45% of Ukrainian tech companies have relocated to some degree, with 42% partially relocating outside Ukraine – the most popular destinations in Europe being Poland, Romania, Spain, Bulgaria and Portugal. About 3% of Ukrainian IT professionals are now working from the UK.

As a Ukrainian founder myself with Ukrainian employees juggling the new realities, helping fellow Ukrainians who are starting their lives and business’s lives from scratch in the UK is important to me. So, I wanted to share some insight on how to build your networks with purpose, find first investors and navigate the ever-changing landscape of the UK start-up ecosystem.

?Find your tribe

While deep diving into the local entrepreneurial networks can seem like a good idea, there is also a more comfortable version for those who want to feel at home even miles away.?

London Tech Community offers ongoing support, weekly workshops with the leading start-ups and scaleups, and a small safety net of people that can guide you while you settle in the UK.

?For more details, please message? Diana Kocheva , the community's founder.

??Prepare your elevator pitch

?Not ground-breaking advice, but nailing your pitch in a foreign language can be a challenge that holds you back from building up a foundation for your business.?

?Mentors can offer invaluable support in preparing your pitch and feeling confident to share it with everyone you meet. Early on in the journey of building local networks – you always need to pitch as you don't know who is standing in front of you.?

Have a local strategy

?While you might not have wanted to end up in the UK, it might be worth understanding the value of the domestic market to your business since you are now building your networks from the ground up.

??If you are a consumer business – start comparing your customer personas and see which growth strategies need to change based on your user needs.

?If you are selling B2B, consider referrals that your existing clients from other countries can help you with. Another tip: if you have a specific corporate vertical in mind, check if they are running accelerators focused on those needs.?

Corporate accelerators operate differently from start-up accelerators, offering better equity terms and access to C-Suite and early exit opportunities.

Do your homework

?Know the room before you enter it. This is probably the most crucial piece of advice: people buy into people, so if you don't try to understand the crowd at the event you are attending – this would be a waste of time.?

?A room full of start-ups feels very different to a room full of investors, and doing some research on Twitter, LinkedIn or even sending a few questions to event organisers will take you far.?

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?Choose your networks wisely

When starting a business, networks are everything. When starting a business in a different country, networks will help you to excel, grow and get through difficult periods.

?Good news for Ukrainian founders – there is support available. The UK Tech community had one of the most robust responses when the war erupted, including VCs, accelerators, investors and tech journalists. From organising donation points to helping people with referrals for tech jobs, the UK has your back.

?For example, EQL: HER and London Tech week has organised an event for Ukrainian women in technology. If you are a Ukrainian woman temporarily displaced in London, join the Breakfast on November 22 to expand your network, meet investors and media, or look for a mentor to help you.

?And also, if you are a Ukrainian Start-up that has recently relocated – the?Department for International Trade? ?will be there too. DIT’s?Global Entrepreneur Programme? (GEP) helps you set up HQ in the UK and navigate export and import labyrinths. They can support you on your journey with mentorship and even help with visa support.?

Starting from scratch is hard. Starting from scratch when you weren't given a choice is much more challenging. But together, we can continue building, innovating and growing.?

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Join EQL: HER and London Tech Week at the Women in Tech breakfast tomorrow, Tuesday 22 November or share with a Ukrainian that you think will benefit from it.

Sign up today:?Women in Tech breakfast?