How industrial, innovative, and technoparks help create new businesses and solutions

The development of industrial and technological parks can be an effective response to the steady decline in industrial production in Ukraine. Such special territories create an equal playing field for domestic entrepreneurs because most of our neighbors stimulate and encourage the development of high value-added businesses.

In total, 42 industrial and 16 technoparks are registered in Ukraine according to the Ministry for Development of Economy, Trade, and Agriculture. But due to the lack of significant incentives for investors, the development of such projects is very slow.

Ukrainian entrepreneurs also create their own innovation parks and business clusters with the involvement of private investors. The most famous of these projects are UNIT.City, UNIT.City Kharkiv, and LvivTech.City of Vasyl Khmelnytsky’s UFuture holding company.

“Innovation parks are the platforms for development of an ecosystem where IT, technology, and innovation companies, as well as educational institutions, accelerators and incubators for startups, and key Ukrainian and international corporations — all are a part and participants of the process of finding new solutions, technologies and creating new businesses,” Mykola Tymoshchuk, CEO of UFuture holding сompany, said.

Read more about how innovative parks differ from technological parks and what hinders their development on “The Place of Power: Why Ukraine needs industrial and technological parks”.