After the pandemic-related switch to an online-only format last year, Web Summit 2021 returned to Lisbon and welcomed guests from across the world once again. For the first time ever, Ukraine hosted a pavilion at the world’s largest digital tech conference as the synergy of government institutions and businesses.

Parimatch Tech, an international product company that provides tech and marketing solutions in the entertainment and betting industry, was honoured to represent Ukraine as the country’s leading IT market player. Maksym Liashko, Parimatch Tech’s co-CEO, held a panel discussion and shared his thoughts about Ukraine’s promising future in tech.

“The phrase “Made in China” is not surprising to anyone nowadays, considering the impressive global expansion of the Chinese market, touching almost every industry. In a few years, the phrase “Developed in Ukraine” will become as widespread. And it won’t be surprising for anyone working in the IT industry, keeping in mind Ukraine’s explosive growth in terms of startups, “unicorns”, and hundreds of thousands of absolutely incredible talented developers, project managers, creators emerging.” — Maksym started.

Parimatch Tech, operating in 14 countries, was born in Ukraine, continues to grow and develop in Ukraine, and plans to continue its global expansion from Ukraine. The company’s largest product is one of the most popular and advanced betting platforms in Eastern Europe and Central Asia, and as of today, the platform holds over 1400 transactions per minute, Maksym pointed out. As the company successfully operating in multiple countries, Parimatch Tech believe that Ukraine is one of the best places to develop and run a global IT business.

“Despite Parimatch Tech’s global presence, the company’s largest R&D office is based in Ukraine’s capital, Kyiv. Why? The professional environment, high standards of tech education, and adaptive business approaches make Ukraine one of the best places to develop business globally. Ukraine is a unique country where working and living is equally pleasant.”

Ukraine becomes more and more visible on the world’s map each year, and it’s booming IT sector is one of the reasons, Maksym believes. It is easy to relocate in Ukraine, and it is easy to do business, and the reason behind this is Ukrainians’ high professional adaptability — it’s as easy for us to work with locals as it is to host foreigners.

“It’s easy to work from Ukraine and establish global partnerships. Being a Ukrainian company, Parimatch Tech has managed to sign contracts with some of the biggest global sports companies, including Juventus FC, Leicester FC, Everton FC, Chelsea FC, and UFC. So, it’s only a matter of time till “Developed in Ukraine” becomes another benchmark in the IT industry.” — Maksym Liashko concluded.

Ukrainian IT sector overview

It is hard not to notice how thriving the Ukrainian IT sector is: its yearly growth is five times faster (25%) than the global average (4-6%), and there seems to be no sign of slowing down in the future. Here are some numbers to back it up:

There are over 5,000 IT companies operating in Ukraine.

250,000 developers are working at Ukrainian IT companies, including almost 1,000 Parimatch Tech employees.

Ukraine is home to five unicorns.

Over the last 6 years, Ukrainian startups raised $2 billion in VC investments.

By 2025, the industry is projected to generate $10 billion

Web Summit 2021 Facts and Numbers

Ukraine’s Web Summit 2021 pavilion featured a number of startups, IT companies, foundations, and innovations. Aside from Parimatch Tech, Ukraine was represented by the Ukrainian Startup Fund, The Ministry of Digital Transformation, The Ministry of Foreign Affairs, The Embassy of Ukraine in Portugal, Sigma Software Group, Ukrainian Hub, European Business Association, and iplace digital agency, as well as participants — Digital Future, Kyivstar, Rocket, Fondy, Avenga, ISSP, Concord Fintech Solutions, UNIT.City, and IT EDUCATION DEVELOPMENT.

Web Summit 2021 attracted some of the world’s most prominent speakers, journalists, and businesses. According to the report published by the Web Summit team, The event has connected over 42,000 people from 128 countries, proving to be a truly unifying global experience for tech enthusiasts, media, and businesses from across the globe. The event provided the visitors with an incredible opportunity to choose from hundreds of speakers who held a cumulative 1,333 talks in its four-day program.

Parimatch Tech also welcomes Web Summit’s commitment to making the event more diverse. According to the event organizers, over half of Web Summit’s attendees (50.5%) were women for the first time in the event’s history. This year’s Web Summit was supported by 211 partners, representing both local Portugal-based businesses and global tech giants alike. Parimatch Tech was proud and delighted to support the event and represent Ukraine’s thriving IT sector at the world’s largest tech conference.