Tech4Ukraine Scholarship Fund Raises
London August 19 2014: Tech4Ukraine, a coalition of tech CEOs in support of the Ukraine's IT workforce, has raised $22,320 to send start-ups to the IDCEE, Eastern Europe’s largest annual non-profit tech conference.
The IT workforce in Ukraine represents an important economic foundation for the country's future and for years the area was the hub of the USSR's dominating technical education. Ukraine boasts over 4,000 IT outsourcing companies, a sector that is growing 25% year on year, and a software development industry worth $2bn dollars, which is expected to grow by 85% in the next 6 years. However, recent developments in Ukraine have left many wondering what will become of their IT workforce and IT outsourcing.
Out of admiration for Ukraine's technical capabilities and empathy for their current political difficulties, Brett Wilson CEO at TubeMogul (NASDAQ:TUBE) brought together a coalition of tech CEOs, in order to promote and support Ukraine’s technology sector. Ukraine represents a significant contribution towards the global IT sector, and raising awareness about its valuable tech potential will help ensure long-term stability, particularly for its start-ups.
With many of the Tech4Ukraine coalition having origins in start-ups themselves there is an understanding of the hard work that goes into building a tech business, and the importance of networking in fostering connections to build success. With this in mind the money raised by the initiative will go towards sending start-ups to the IDCEE, giving them access to the driving forces in the tech world and therefore a greater chance of success.
Brett Wilson, CEO at TubeMogul and supporter of the Tech4Ukraine initiative, commented “We wanted to let the developers we have living in Kiev know that we support them and have their backs, but also find a way to help them and their country. The tech workforce in the Ukraine is vast and full of talent, so while we can’t change the situation out there, we can help support this vibrant industry. It’s great to see so many CEOs coming on board and to have raised 893% of our target as this means we can help more start-ups than we ever envisioned get access to the networks that will help them grow”.