Is Odesa a Good Place to Launch a Startup?

Where you start your company still matters – but sticking too closely to one location might limit what you’re able to build. In today’s startup landscape, geography shapes your path – but it doesn’t have to define your potential.

Odesa has emerged as a strong hub for entrepreneurship, offering access to funding, talent, and infrastructure. But with growing competition, rigid local programmes, and support often reserved for the most polished startups, relying solely on what’s nearby can slow you down – or hold you back.

In this article, we’ll explore what Odesa gets right – and where founders often run into friction. We’ll also show how EWOR offers an alternative: a global, remote-first platform that gives you access to funding, mentorship, and community – no matter where you’re based.

1. Access to Funding in Odesa

Funding is one of the most critical ingredients in building a successful startup – and Odesa offers a growing ecosystem of support. From venture capital firms to government grants and angel investors, founders in this region have several pathways to raise capital and gain early traction.

Odesa's early-stage startup funding environment is dynamic but faces significant challenges, particularly due to the ongoing conflict. While the city is recognized as a key IT hub in Ukraine with a strong talent pool, access to funding remains a primary hurdle for many early-stage companies. Government initiatives like the Ukrainian Startup Fund offer grants, including programs focused on dual-use technologies and IT development, accessible through platforms like Diia. The "Odesa 5T" Grant Office also actively works to connect startups with funding opportunities and international partners. However, securing substantial seed and Series A funding within Ukraine is difficult, often requiring startups to look abroad, a trend exacerbated by the war. International interest exists, with some foreign investors and initiatives like Ukraimpulse Ventures (ua.ventures) providing support and impulse investments, but the overall volume of investment in Ukrainian companies, including those in Odesa, has been impacted by the conflict. Despite the difficulties, the ecosystem shows resilience, with ongoing programs and a focus on rebuilding and innovation.

A More Flexible Path Forward

In the wake of these challenges, founders don’t have to rely solely on local funding options. EWOR offers a more flexible path – providing up to €500,000 in early-stage capital But EWOR is more than a cheque. Our capital comes bundled with personalised support, investor-ready storytelling, and access to a network of over 400 active European investors – many of whom regularly participate in our Grand Pitch events. On average, EWOR fellows who complete the programme and pitch go on to raise €2 million in follow-on funding – over 10x more than founders from comparable European initiatives.

2. Innovation and Startup Culture  

Odesa has become a centre of innovation, with numerous tech hubs, coworking spaces, and accelerators that foster creativity and new ideas. The local startup culture is vibrant, with a growing community of entrepreneurs working together to push the boundaries of what’s possible.

Odesa has a vibrant startup and innovation culture, recognized as one of Ukraine's leading IT hubs. The city boasts numerous coworking spaces like 4City, Impact Hub Odesa, and COSPO, facilitating collaboration and providing necessary infrastructure. A strong entrepreneurial spirit is evident, with a significant number of new businesses registered, particularly in IT and wholesale trade. Odesa actively hosts tech events, conferences, hackathons, and networking parties, fostering community engagement and knowledge sharing. Support for startups exists through initiatives like the U-Nation accelerator, which assists those with an MVP or in product development, and the "Made in Ukraine" offices offering consultations and access to programs for both new and existing businesses. While there are standardized programs and accelerators, there are also efforts to provide tailored support and mentorship, aiming to integrate startups into the global ecosystem.

For many entrepreneurs, the energy and resources available in Odesa can provide the ideal environment to test new ideas and gain early traction. The collaborative atmosphere allows founders to connect with fellow innovators and build networks that can help their startups grow.

While the local startup culture is vibrant, the support founders actually receive can be hit or miss. VCs might offer funding but little time. Angel investors often give advice, but it’s scattered and inconsistent. What’s more, many accelerators rely on a one-size-fits-all model that doesn’t reflect the needs of exceptional founders. In fast-moving, competitive ecosystems like Odesa, standing out is hard enough – getting the right kind of support shouldn’t be.

The Alternative to Cookie-Cutter Programmes

Finding a programme that truly adapts to your journey, not the other way around, is rare. However, EWOR offers the kind of depth and flexibility that many local programmes simply can’t match. Instead of following a fixed curriculum, our fellowships are modular and tailored – giving you the right support at the right time, based on where you are in your journey.

But the real strength of EWOR goes beyond structure. Fellows often describe the community as the most unexpected – and valuable – part of the experience. As some have put it: “The real magic lies in the community: the kind of conversations, insights, and connections that lead not only to breakthroughs – but to lasting friendships with some of the most fascinating people they’ve ever met”.

3. Talent and Workforce Availability

One of the greatest assets of launching a startup in Odesa is access to a skilled and diverse talent pool. With universities producing top-tier graduates in technology, business, and other fields, startups can tap into a wealth of expertise to help grow their teams.

Odesa is recognized as a significant hub for IT talent in Ukraine, part of the "big five" cities for IT infrastructure. The city benefits from a strong educational system with universities like Odesa National Polytechnic University and Odesa National University I.I. Mechnikov producing graduates with relevant skills. Private IT schools also contribute to the talent pool. Odesa's talent is particularly strong in IT and tech, including software development, with expertise in various programming languages and areas like AI, cybersecurity, and UI/UX design. This local talent supports entrepreneurial growth by providing a skilled workforce for the city's growing startup ecosystem and over 150 IT companies. The city is considered welcoming for IT startups.

Like funding, competition for talent can be fierce, especially for highly specialised roles in fields like software development or AI. For startups looking to scale quickly, hiring the right people at the right time can be a challenge, leading some founders to look outside the region for remote talent solutions.

Get Global While Local

While hiring locally in Odesa can be competitive and slow, EWOR gives you instant access to a global network of exceptional talent. Built by founders for founders, the EWOR team has launched and exited companies worth over €12 billion – and they bring that experience directly into your venture. It's not just about funding or surface-level advice; it's akin to having a co-founder from day one. 

The team collaborates closely with you to refine your idea, challenge your thinking, and support you through real-world decisions – just like a hands-on partner would. Moreover, with EWOR’s exclusive co-founder pool, you can find the right person to build with, regardless of their location.

4. Infrastructure and Support Systems

Odesa boasts a strong infrastructure that supports the growth of new businesses. From modern office spaces to high-speed internet, entrepreneurs have access to everything they need to run their startups smoothly. Government policies may also provide tax breaks, legal support, and other incentives that make starting a business more attractive in this region.

Odesa's startup ecosystem is dynamic, ranking 4th in Ukraine. It offers various support systems, including co-working spaces and a strong IT community facilitated by organizations like Odesa IT Family. The city benefits from a skilled workforce, particularly in IT, with universities contributing talent. Support for startups includes access to educational programs, consultations, and networking events. Initiatives like the U-Nation startup accelerator provide workshops, mentorship from experts and investors, and opportunities for pitching. Government involvement is seen through programs like "Made in Ukraine" offices offering practical support, advice, and information on funding and grants for small and medium-sized businesses, including those just starting. These resources collectively help startups thrive by providing necessary infrastructure, knowledge, connections, and financial guidance.

But what looks good on paper often proves more complicated in practice. Bureaucracy can be time-consuming and opaque, especially for first-time founders unfamiliar with local laws. Incorporation takes longer than expected. Accessing public funding often means navigating slow processes, strict requirements, or hard-to-reach advisors. And operational costs – from accounting to regulatory compliance – can quickly eat into early budgets. 

A System That Moves With You

With access to expert guidance, practical legal resources, and a network of experienced entrepreneurs who’ve built across a range of regulatory systems, EWOR is well positioned to help founders navigate the bureaucratic and legal complexities that often come with building in Odesa. Instead of wasting time figuring things out alone, you’ll have the tools and support to stay focused on what matters most – growing your venture.

And while we’re remote-first, our support is anything but distant. Through in-person gatherings like the EWOR House, city-based meetups, and our twice-yearly Grand Pitch event, you’ll still build meaningful relationships with investors, peers, and mentors. It’s a system that helps you focus on building – not just dealing with paperwork.

Can Odesa Be Considered the Best Place to Launch a Startup?

There’s no doubt that Odesa provides a vibrant environment for startups, with access to funding, innovation, talent, and infrastructure that can help entrepreneurs build successful businesses. For many, it’s a strong contender for the best place to launch a startup, thanks to its growing entrepreneurial ecosystem and support systems.

Entrepreneurs launching a startup in Odesa face several challenges. While Odesa has a developing startup ecosystem and a pool of tech talent, competition exists, particularly in the IT sector where many companies and startups operate. The cost of living in Odesa is generally lower compared to Western Europe, which can be an advantage, but attracting and retaining skilled personnel can still be a factor. Regulatory issues and bureaucracy remain a challenge in Ukraine, with company registration and obtaining necessary permits sometimes being complex and time-consuming processes. Additionally, the ongoing conflict in Ukraine presents significant economic challenges, impacting logistics, purchasing power, and overall business stability in Odesa and the surrounding region. Access to external financing and difficulties in finding business partners are also noted barriers for startups in Ukraine.

However, it’s important to remember that the location of a startup is no longer the be-all and end-all. In today’s digital age, location-independent options like EWOR allow entrepreneurs to access world-class mentorship, funding, and resources from anywhere in the world. Whether you’re based in Odesa or elsewhere, EWOR’s remote programmes are designed to support founders no matter where they are located.

So, while Odesa offers significant advantages, it’s worth considering options like EWOR that enable you to launch and scale your startup with global support – whether you’re in the heart of a bustling startup hub or working from a quiet corner of the world.

Image credits: by Andreas Brücker on Unsplash