Economy of Ukraine
Published since September 1958

№ 4/2022

Ekon Ukr. 2022 (4): 37–49


УДК 338.2

JEL: G24, L24, O32, O33

DYBA Mykhailo1, GERNEGO Iuliia2

1Kyiv National Economic University named after Vadym Hetman, Research ID :
OrcID ID :
2Kyiv National Economic University named after Vadym Hetman, Research ID :
OrcID ID :


Expert research shows that the aggravation of the epidemiological situation globally, the intensification of the effects of the crisis and quarantine restrictions cause a number of additional problems for business. In particular, venture startups were the most vulnerable to the pandemic effects, as the COVID-19 crisis laid the groundwork for reducing consumer purchasing power, increasing difficulties in supplying raw materials and resources due to quarantine restrictions.
Despite the expansion of venture business opportunities in Ukraine, financial support of venture startups is still a relatively new area. Some analytical studies confirm the increase in investment in the development of venture startups. Aventures Capital experts note the strengthening of the role of venture funds in the structure of funding sources for domestic startups. In particular, a number of new funds, which appeared in the domestic ecosystem, have taken the position of the most active investors, namely Adventure Labs, Pragmatech Ventures, Bee Ventures.
In turn, both in Ukraine and in the world as a whole, there is a growing need to attract financial resources to support venture startups using a wide range of sources in the face of increasing corona crisis. Sources of venture startups funding are substantiated taking into account the negative consequences of the COVID-19 crisis. Trends in venture startups funding in OECD countries were assessed, which led to the conclusion that funding them during the corona crisis remains expedient. The characteristics of the largest investments in venture startups in Ukraine in 2020 are presented. The key characteristics and advantages of bootstrapping for the development of venture startups are substantiated given the possible risks of this form of support for startups amid the COVID-19 crisis. The potential and risks of venture and grant funding in the conditions of corona crisis are estimated. The potential and risks of attracting resources on crowdfunding platforms to support venture startups are studied.

Keywords:venture startup; bootstrapping; venture funding; grant funding; crowdfunding.

Article original in Ukrainian (pp. 37 - 49) DownloadDownloads :28
The article was received by the Editorial staff on December 22 , 2021


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