StartUp projects development

Issue: №12/1, 2019

Doi: https://doi.org/10.37634/efp.2019.12(1).4

Introduction. A significant trend of modern business has become the rapid spread of startups - a special organizational structure aimed at developing and implementing high-tech and innovative products. Purpose. The main purpose of the article is to analyze startup activity both in Ukraine and abroad. Results. The innovative potential of Ukrainian startup projects can be determined by analyzing statistics. The rating is given on the Startup Ranking service. Ukraine ranks 43rd in the number of startups in this ranking. The US has not lost its leadership position since 2016. With 243 successful startups, Ukraine has not made it to the Top 20 and has a large gap between leading countries (four thousand successful startup projects). With a slight margin, Ukraine is ahead of countries such as Norway, Kenya and so on. This means that Ukrainian founders need to work better on projects, because too many startups do not approve or fail. A number of mistakes are made at the stage of idea formation. However, part of the fundamental setbacks occur from the moment of investor search for startup. Therefore, the main reasons for the closure of startups in Ukraine and abroad can be identified: incorrect determination of the level of demand for a startup idea, lack of management experience, lack of clear plans of activities (strategic and current), bureaucracy, poor location, limited funding and lack of funds for the implementation of the startup idea, lack of calculations for determining the optimal price and break-even point, badly formed advertising campaign, lack of mechanisms for promoting the startup idea, problems of interaction with invest tors, organizational problems, untimely release or release of a defective product / service. Conclusions. Ukraine has significant innovative potential for startups, including highly-qualified engineering resources, and creates the appropriate infrastructure and ecosystem around startups. As a result, the number of startups receiving international recognition and receiving funding from foreign investors (Ugears, Senstone, SolarGaps, PassivDom, CruiseBe, Effa, Cardiomo, Helko Smart Dumbbels, Picolor, Petcube etc.) is growing.

Keywords : startup, rating, reasons for closing, startup-entrepreneurship, successful projects, liquidation

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