Ukrainian projects have already raised almost $ 2 million on crowdfunding platforms in 201714 Sep 2017

Ukrainian startups are increasingly coming out on crowdfunding platforms, including the world's largest ones: Kickstarter and Indiegogo. Their goal is to search for the first customers and orders, additional PR and market analysis. Also there are some more experienced projects that have in the "stock" several successful campaigns.

According to the results of the first 7 months, 2017 has already become one of the "richest" for successful crowdfunding campaigns in the history of Ukrainian start-ups.

According to the Research committee of the Ukrainian Venture Capital and Private Equity Association (UVCA), 35 campaigns have been launched at Kickstarter and Indiegogo, the most popular global crowdfunding platforms, since the beginning of 2017.

According to the annual Investment market Overview by UVCA - most start-ups received seed stage investments in 2016. Crowdfunding platforms can be an excellent alternative for earlier stage products. Also, the campaign success will be an additional argument for potential investors.

Olga Afanasyeva
Executive Director of UVCA

It is important to note that most of the projects (83%) have successfully raised the necessary amounts. As of mid-August 2017, Ukrainian projects have already collected $ 1,895,252, which is four times more the initial goal.

Kickstarter is more popular among Ukrainian developers, 27 campaigns (77% of all projects) were launched on this platform in 2017. In turn, Indiegogo is used as an additional channel for raising funds. For example, start-ups Luciding, Senstone, Hushme practiced parallel launch of promotional campaigns on two platforms at once.

Obviously, projects are more carefully prepared for access to crowdfunding platforms: they are thinking ahead of PR strategies and working with future backers

Marianna Yarosh
Head of the UVCA research committee

The most successful campaigns in 2017 by the criterion of the ratio of the declared goal and collected funds were:

1 - Jollylook (The First Cardboard Vintage Instant Camera), which managed to collect $ 377K instead of $15K initially declared.

2 - Senstone (Stylish wearable for capturing spontaneous ideas on the go) - the project raised $370K in total.

3 - UGEARS Hurdy-Gurdy (unique mechanical musical model) - managed to collect more than $290K.

Unfortunately, there is not always an opportunity to determine the "ownership" of the project to Ukraine, almost half of the projects indicate their location in the United States. This is due to their focus on the global market. But in recent years, more often you can meet Ukrainian cities in the description of projects.

Ukrainian Venture Capital and Private Equity Association (UVCA) has been established in mid-2014 by the example of the European Venture Capital and Private Equity Association (InvestEurope), and currently unites 40 members - private equity and venture funds, accelerators, incubators, educational institutions, and non-government organisations that make significant impact on the development of Ukrainian investment market. Association promotes investment opportunities in Ukraine for foreign investment funds, conducts market research, lobbies laws for improving investment and business climate, implements Invest in Ukraine activity.