Mind Invest Summit, the largest event this summer for investors and entrepreneurs, took place in Lviv
Kyiv • UNN
Every day, from morning till evening, the guests of Mind Invest Summit were addressed by the heads of state regulatory bodies, representatives of the volunteer movement and foreign governments, large and medium-sized businesses, analysts of institutional funds, and angel investors.
On June 28-29, Lviv hosted the Mind Invest Summit, a conference for investors, entrepreneurs, startup teams and anyone who seriously considers Ukraine and its assets as investment targets. The event proved to be truly valuable, as it brought together a balanced lineup of speakers who, through their speeches, judgments, beliefs and opinions, directly or indirectly influence the country's investment attractiveness.
Every day, from morning till evening, the guests of Mind Invest Summit were addressed by the heads of state regulatory bodies, representatives of the volunteer movement and foreign governments, large and medium-sized businesses, analysts of institutional funds, and angel investors.
In addition, many Ukrainian startups pitched at the event, trying to attract investment.
At the same time, the UA Tech Show was held, an exposition that brought together leading Ukrainian technology companies to present their latest products and inventions to visitors. The task of the exhibitors is really simple: to look for and find partners, investors, or customers.
Every evening, the participants were treated to performances by the Jazz Weekend festival. On the first day, the guests of the summit were immersed in the atmosphere of exquisite musical improvisation by Jazz in Kyiv Band and its renowned leader Alexey Kogan, and on the second day by the unsurpassed Nino Katamadze.
Key quotes from Mind Invest Summit 2024 speakers
Ashot Abrahamyan, Chairman of the Board of JSC Lviv Bank:
The first reaction of foreign investors to the start of the full-scale invasion was shock. They took a wait-and-see attitude, hoping that the war would end one day and only then would they be able to provide financial assistance. Gradually, we began to convey to them the idea that it is not known when peace will come and that business support is needed here and now. Our current partners were the first to respond and provide resources for lending. Moreover, Bank Lviv was one of the first banks in the country to attract not only loans, but also grants and guarantees through cooperation with international organizations and foundations. I am pleased that the cooperation is constantly expanding, and this year a number of new powerful partners have joined us.
Rostyslav Vovk, Chairman of the Supervisory Board and co-owner of Kormotech:
It is not yet profitable for us to allow international partners to make equity investments. The cheapest funds we can find on the market are loans. We are a family business, so we do not plan to sell the business, but to keep it for our children. Therefore, our strategy states that if we do partner with someone, we have to buy that share back in 5-7 years.
Vasyl Khmelnytsky, Ukrainian entrepreneur, founder of UFuture:
There are no countries in the world that would be willing to support us in being a manufacturing state rather than a raw material one. This is our task. If there is production, small and medium-sized businesses will develop. When there are ten factories in a city, people get good salaries there and spend their money here, then small and medium-sized businesses will work, because everything in the economy is tightly connected.
Oles Pishchak, owner of Sales Audit, managing partner of BUDE HOUSE:
We have done a thorough market research, according to which the surveyed realtors indicated 67% of sales as the average number of transactions in 2023 compared to pre-war 2021 in the Lviv region. With the war, Lviv became a million-plus city. The key product on the market today is a townhouse.
Yulia Lipovetska, ex-director of a Big Four company, founder and CEO of SAPience:
We are risk-oriented. So, at some point during the war, we decided to abandon foreign investment for a while to show that we can do a lot ourselves. And partners who try to engage us in international projects come primarily for our intellectual assets. The value of our mentality is really incomparable for many countries.
Oleksandr Prokhorovych, Fiscal Affairs Manager at Philip Morris Ukraine:
Our main factory is located very close to the front line in Kharkiv region. So when Russia's full-scale invasion began, we suspended its operations. The Kharkiv factory fully covered the needs of the Ukrainian market and also exported to 20 countries, including Japan. With the war, we began to depend on imports, but this complicated logistics and significantly increased production costs. So Philip Morris invested $30 million and in May this year opened a second factory in Lviv region, which will employ 250 people by the end of the year. These jobs were offered primarily to our Kharkiv employees, and 150 of them have already agreed to move to Lviv region.
Dmytro Zozulya, Deputy Chairman of the Board of MHP with M&A:
"Investing in businesses that expand our culinary expertise is one of the ways we are moving to build MHP's culinary ecosystem.
We are looking for businesses with growth potential. MHP has significant experience in various aspects of business, so we can strengthen these companies not only financially but also with expertise. We are ready to join forces, invest in the companies' capital and help them grow.
Roman Matys, President of the International Investment Office:
We are able to speed up many processes that can take years in other countries: in Ukraine, you can implement a project in months or a year, something that would take much longer in other countries.
Viktor Yushchenko, the third President of Ukraine:
More than 70% of those who left Ukraine over the past two years are people with higher education. Today, the main resource for the prosperity of the economic territory of any country is labor. Labor in the 21st century is the oil of the 20th century. It is something that cannot be ignored and must be taken care of. And it is our political and national duty to bring these Ukrainians back home.
Andriy Sadovyi, mayor of Lviv:
"If we want to succeed in Ukraine, we have to invest in education for 10 years. Only investment in education will give results." According to him, Ukraine has an incredible human potential, but it is currently working for other countries. And we need to work to bring this potential back home.
Sergiy Kovalenko, CEO of YASNO:
Ukraine has been in energy shortage for two years now. The enemy has changed its tactics, having destroyed thermal power plants by 90%, destroyed hydroelectric power generation by a large percentage and returned to the tactics of attacking network facilities. And there are no predictions... But the Russians will continue shelling. And it takes time to build a large number of generating facilities, and it is not in months, but in years.
Kateryna Zagoriy, co-founder of the Zagoriy Foundation's social projects bureau and director of the Board of Directors of Darnitsa Pharmaceutical Company:
We have created our own foundation, named it after ourselves, spend our own money, create our own social projects with it to help others, so I have a question about how to make money. We need to earn more to spend more on social projects.
Serhiy Prytula, volunteer, public figure, founder of the Serhiy Prytula Foundation:
The key to successful fundraisers is the involvement of well-known bloggers, celebrities, stars of the creative industry and sports, who act as repeaters of information about the fundraiser to their audiences. The Foundation is the operator of the funds, one of the participants in the crowdfunding campaign, the one who obtains the relevant licenses. So volunteering is synergy, not competition.
Taras Kitsmei, co-founder and member of the Board of Directors of SoftServe:
IT in Ukraine is a strategic industry. The main reason is that it creates large amounts of intellectual capital within the country. Today, about three hundred Ukrainian IT specialists are integrated into the global economy in very different industries - in the financial system, healthcare, retail, oil and gas, etc.
Vitaliy Koval, Chairman of the State Property Fund of Ukraine:
Unfortunately, the state today has many assets that look like liabilities. Therefore, it is important to find growth points for yourself. When a business comes in and runs operations, it is always more efficient than state management.
Thanks to Mind Invest Summit partners:
Status Partner: Bank Lviv
Car partner: Audi Center Lviv
International investment office
CoFarming Ukraine
Company Kormotech
Natural mineral water "Morshynska"
PepsiCo Company
WINETIME grocery store
Alcohol partner - Fiorelli
Legal partner - 4lex
BC Viking - class A business center
Main media partners: Ukrainian Venture Capital and Private Equity Association UVCA, Capital Times, Lviv IT Cluster, Association of Ukrainian Business in Poland, UCU Business School, CORE business club, American Chamber of Commerce in Ukraine, EBA, Business Radio Group, International Business Community Board, Start global.
Media partners: Interfax-Ukraine, Business Capital, LIGA:ZAKON, Root-Nation.com, Economist, robota.ua, All-Ukrainian agrarian magazine "AgroElita", Founder.ua, Ukrainian National News, media company "MPG: Business and Finance", iTechua resource, telegram channel "About Business, Startups, IT", RISE club, Harbar Bots, Palai media, Marketer, Kyiv 44.ua website, telegram channel "Business | Finance | Business".
Host partners: Emily Resort multifunctional complex and Grand Hotel Lviv.
