This blog is all about my experiences and insights as an Offshore Software Development Entrepreneur. It describes the inherent challenges that come with offshore development as well as the solutions we use at Ignite to create a high-performance cost-effective onsite-offshore software development model.

June 17, 2014

The impact of the Ukraine crisis on its IT Market

I have done business in Ukraine for quite some time now and I must confess I saw the country's great potential, took a bet and won. Nowadays, the rapid developments in Ukraine, including protests that pushed out Ukrainian president Victor Yanukovych and Russia's subsequent moves in Crimea, have drawn international attention to the region...but didn't manage to scare me off. As fears have risen that the conflict between Russia and the West over Ukraine could shift into a military confrontation, I think there is little risk of global financial contagion or of major blowback to Western economies. So, how does the thriving Ukrainian IT market cope with the "Great Depression"?

The general atmosphere around the IT market in Ukraine fits the turmoil all over the country, as the winds of depression keep blowing in. However, what's becoming clear is that Russia has finally come to the end of its oil-driven growth model. It needs a new investment driver and needs to attract more foreign industries to diversify its industries and Ukraine fits the plan perfectly. Thus, is the crisis a genuine risk to the thriving Ukrainian IT market or is it more of an opportunity?

So like I was taught in a basic marketing course, I made a small SWOT analysis for myself of the Ukrainian IT industry.

Read the full article in Outsourcing Journal