Why on-site observation matters: The Impact Ecosystem in Ukraine
Larger investments will likely occur only after the war ends. However, what is needed right now are creative solutions and business models, a focus on regions with lower risk for investors, and in-depth analyses of possible war outcome scenarios. This approach helps convince private investors of the necessity to engage already—with seed capital and valuable input.
Speaking of input: In meetings with representatives of the Ukrainian startup ecosystem, members of parliament, and officials from the Ministry of Economy, it became clear to us how different the mentalities of startup entrepreneurs in Ukraine are compared to those in Western Europe. The country’s current economic and social situation does not allow entrepreneurs to rely on public funding programs for the seed phase of their business. This is why self-initiative is much more pronounced in Ukraine than in our own countries.
Another crucial reason for personally traveling to Ukraine is that field visits to impact-oriented businesses enable the development of a shared understanding of what “impact” truly means and where the biggest challenges currently lie in matching investors with investees.
Last but not least: The people in Ukraine’s impact and startup ecosystem are curious and open to advice and good ideas. Through personal meetings, including with public sector representatives (such as the Ministry of Economy), it is possible to gradually overcome the current barriers and challenges for (impact) investments, such as:
- The lack of investable projects (too few business models meet investors’ criteria)
- Legal obstacles
- The lack of suitable financial instruments
- The risk aversion of Western institutions when it comes to enabling investments in Ukraine. Public-private partnerships should serve as the nucleus for a larger volume of investable startups in Ukraine.
With the knowledge gained from such an on-site trip, it becomes much easier to credibly advocate why investments in Ukraine’s impact startup scene already represent a win-win situation for all involved partners.
And let’s not forget: There is plenty to learn in Ukraine that can benefit our own impact ecosystems at home.
The Ukrainian Social Venture Fund – Mission and Vision
The USVF specifically invests in social and impact-oriented enterprises whose business models aim to create positive social and environmental change. Through targeted funding, training, and advisory services, the fund strengthens the social entrepreneurship ecosystem and supports sustainable solutions to societal challenges.
Engagement and Impact
Since 2021, the USVF has collaborated with renowned partners such as the European Venture Philanthropy Association, Finance in Motion, The Possible, the 1to4 Foundation, Impact Force, and the Ministry of Digital Transformation, as well as the German Platform for the Reconstruction of Ukraine. These partnerships enable the promotion of social innovations and drive systemic change.
Investment Focus Areas
The USVF focuses on three key areas:
- Integration of Vulnerable Population Groups
- Creating jobs for people who are excluded from the labor market due to difficult circumstances.
- Development of Social Services and Innovative Products
- Supporting new social products and services that improve life in communities.
- Sustainable Solutions
- Promoting innovations that address social, environmental, cultural, and educational challenges.
Adapting to Challenging Times
Despite the ongoing war, the USVF has not only maintained but expanded its activities. The fund focuses on supporting the relocation, transformation, and adaptation of social enterprises to new realities.
Impact-Driven Portfolio
By providing financial resources, mentoring, and access to key networks, the USVF empowers committed entrepreneurs to turn their ideas into sustainable solutions. The fund closely collaborates with local and international partners to ensure the long-term stability and recovery of affected regions. The Ukrainian Social Venture Fund is not just a funding instrument—it is a catalyst for positive societal change, resilience, and cross-border cooperation.
Do you want to see it for yourself? Then, do not miss this opportunity
We would like to invite interested impact investors as well as funders an startup-entrepreneurs on our Networking Trip to Ukraine. We are convinced that such a visit provides a deeper understanding of the local atmosphere—the entrepreneurial spirit, the resilience, but also the economic necessities and the real need for support that exists there. Western media coverage is largely dominated by frontline events and political developments. However, the fact that Ukraine is an emerging economy with a young, well-educated population is far less ingrained in the consciousness of people in Western Europe.
When: May 18–24, 2025
Where: Ivano-Frankivsk & Kyiv
How: Apply here before April 7
The Ukrainian Social Venture Fund invites German social start-ups, social enterprises, impact-oriented companies, as well as venture and impact investors to a six-day networking trip to Ukraine. This trip is initiated within the framework of the German Platform for the Reconstruction of Ukraine.
What to expect?
- Exploring the social entrepreneurship ecosystem in Ukraine
- Direct meetings with start-up representatives, investors, entrepreneurs, members of parliament, and government officials
- Visits to innovation hubs such as Promprylad in Ivano-Frankivsk and the annual Kyiv Impact Entrepreneurs Meetup
- Discussions on challenges and opportunities for social investment in Ukraine
- Strategic networking sessions to foster partnerships
Application Requirements: A short motivation letter and information about the company and its previous engagement in social and impact-driven projects focused on Ukraine.
Participants will be selected based on their applications. The trip is planned for 10–15 participants.
Important Information:
Travel, accommodation, insurance, and other expenses are not covered by the organizers. However, full logistical support and a curated program in Ukraine will be provided. For More Information, contact: Dr. Martin Vogelsang or Dr. Bohdan Androshchuk (Ukrainian Social Venture Fund).
Ukraine is a living laboratory for transformation. Social entrepreneurship here is not just a trend, but a necessity for rebuilding the country. This is not about charity—it is about sustainable business models that solve real social challenges while creating long-term economic value.
