TRANSFORMATION OF INVESTMENT RESOURCES IN THE DEVELOPMENT OF THE STARTUP ECOSYSTEM IN UKRAINE

Анотація

The article offers a comprehensive analysis of how Ukrainian start-ups have evolved their investment resources and mechanisms for attracting them, all within the context of significant geopolitical challenges. It examines not only the classification of funding sources but also the profound transformations in investor psychology, founder strategies, and the overall structure of the innovation ecosystem. Based on the analysis of current data, it is proven that the Ukrainian technology sector, having passed an extreme test of stress resistance, demonstrates its own model of anti-fragile adaptation. It is returning to pre-war capital attraction indicators not by restoring old ties, but by building qualitatively new ones. It is argued that the crisis has served as a catalyst for the transition from a growth-at-any-cost paradigm to strategies for sustainable, profitable, and globally integrated business. Particular attention is given to analyzing untapped potential at the intersection of national needs and global investment trends. The concept of impact investing as a strategic direction for attracting capital to projects that contribute to post-war reconstruction and the resolution of acute social problems is explored in detail. The critical need for actively integrating the large Ukrainian corporate sector into the innovation ecosystem through the creation of corporate venture funds and accelerators, which could become the most powerful source of domestic investment, is substantiated. A conceptual framework for the further evolution of public policy is proposed: a transition from direct grant support to institutional market stimulation through a «fund of funds» model. The conclusions present a comprehensive vision of the future of the Ukrainian startup ecosystem as a testing ground for developing and implementing sustainability technologies.