According to the report, Ukraine became 34th in the ranking of 100 countries for starting startups.
Analysis of the Global Startup Ecosystem Index has described Ukraine as an inspiring country because it can create large-scale and global technologies despite many years of economic difficulties.
Kyiv, the capital of Ukraine, is a place for technicians who want to startup. However, Kyiv went through a challenging year in 2020 and lost 16 points in the world rankings. It now ranks 48th in the world, followed by Detroit, Mexico City, and Dublin.
According to the report, Ukraine is so popular with startups because it has more than 200.000 talented developers highly sought after by many foreign companies. Large international companies, such as Viber, Amazon, and Samsung, hire Ukrainian technicians to work remotely or from research centers in Ukraine. Living in Ukraine is affordable because living here is low by western standards while working in foreign businesses is well paid.
Ukraine had lost 5 points more than last year when it was ranked 29th in the world.