An Insider's Futurology View from the SelectUSA Summit - Ukraine's Economic Revival: Innovation and Human Capital

June 24, 2024
An Insider's Futurology View from the SelectUSA Summit - Ukraine's Economic Revival: Innovation and Human Capital
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Ukraine's economic revival is driven by the synergy of innovation and human capital, as highlighted in the recent event at the Ukraine House in Washington, D.C. On June 21, distinguished speakers, including Oksana Markarova, Ambassador of Ukraine to the United States, and James Golsen, Deputy Director General of the U.S. and Foreign Commercial Service, shared their insights on the pivotal role of human capital and innovation in Ukraine's recovery. The event featured keynote speeches, presentations, and sessions focusing on leveraging Ukraine’s greatest assets and exploring collaborative opportunities with Ukrainian businesses.

“Held within the framework of the SelectUSA 2024 Summit, the event showcased a diverse Ukrainian delegation consisting of over 30 mature companies and startups representing the country’s technological and innovative ecosystem. We at Futurology are proud to be part of this distinguished delegation and honored to be presented at today’s event”, - notes Valerii Iakovenko, СEO and managing partner of Futurology.


Overall, the discussions highlighted the critical current issues and challenges encountered by Ukrainian entrepreneurs. There was also a strong focus on the opportunities that have emerged during the most challenging times for the Ukrainian economy, thanks to the flexibility, creativity, and ambition of Ukrainian business leaders.

“Today, Ukraine stands as one of the leading players in the field of electronic components and robotics manufacturing. This position underscores the potential for future partnerships in electronics manufacturing with the United States”, - emphasized Valerii Iakovenko.

The event also featured valuable insights from representatives of other innovative businesses regarding the prospects for Ukrainian companies entering the American market. Ukrainian business representatives at the event could be divided into two groups. The first group is exploring opportunities to enter the American market, studying its capacity, requirements, and needs. The second group consists of companies that have already recognized Ukraine as an attractive partner for supplying equipment, services, or participating in global market production partnerships.

“Currently, there are two segments of Ukrainian businesses: those just beginning to view the U.S. as a gateway to the global market, and those already actively working and deepening their cooperation with the U.S. The majority of today's guests were participants of the SelectUSA 2024 investment summit. This summit provides mature companies and startups alike with an invaluable opportunity to experience the level of governmental support available in the U.S. Commercial entities and various economic development offices in each state compete for the presence of new companies and partners in their markets. This experience should be leveraged to scale up their own businesses and also be shared as a necessary experience with Ukrainian state institutions, especially during Ukraine's recovery period”, - analyzed by the CEO and managing partner of Futurology.

The SelectUSA 2024 summit highlighted the opportunities at the state level for opening significant investment directions and expanding Ukrainian business activities on the global stage through cooperation with governmental and private institutions in the U.S.


oday's event took place at the Ukrainian House, a cultural hub established by the Ukrainian embassy in the U.S. This venue underscores the importance of technological diplomacy, a relatively new concept where Ukrainian enterprises and even individual engineers become ambassadors of Ukraine on the global stage. They engage in small discussions, sharing daily experiences gained in Ukraine. Such informal communication was a hallmark of the atmosphere at the Ukrainian House today.

The Ukrainian embassy in the United States, with its regulated approach to involving representatives from various industries and spreading Ukrainian thought, plays a crucial role. However, the Ukrainian House in Washington allows for more flexible communication of our ideas and a stronger presence on the global communication stage. The cooperation between the Ukraine House and the embassy serves as a model for similar public relations, communications, and events in other allied countries of Ukraine.

“Focusing on innovation, the enhancement of the Ukraine House's direction towards education, science, and innovation is a significant step forward. It is essential to discuss the importance of innovation and science not only in the traditional sense, where obtaining a diploma takes years, but also in the context of Ukraine's current stage. After achieving victory on the battlefield and confirming its independence, Ukraine needs to rebuild its country and economy. This requires specialists with various professional backgrounds, who may currently be in short supply. Therefore, increasing the speed of education is vital, not only by improving the quality of education in Ukraine, which is already quite high, but also through cooperation with international institutions, academics, and educational establishments”, - summed up Iakovenko.

The new direction at the Ukraine House for the exchange of knowledge, experience, and the establishment of new partnerships is undoubtedly a positive development for the future human resource potential needed to rebuild Ukraine.

At the SelectUSA 2024 summit, the companies representing Ukraine were strong and powerful, demonstrating leadership and serving as examples to follow. These companies shared their experiences and sought new partnerships to develop Ukrainian-American relations, bringing new technologies and opportunities to the forefront.

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