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Evolution of the Startup Ecosystem: New Trends and Challenges
Marchenko O. I., Tsykulova A. Е.

Marchenko, Olha I., and Tsykulova, Albina Е. (2025) “Evolution of the Startup Ecosystem: New Trends and Challenges.” Business Inform 9:168–176.
https://doi.org/10.32983/2222-4459-2025-9-168-176

Section: Innovative Processes

Article is written in Ukrainian
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UDC 330.341

Abstract:
The aim of the article is to provide a comprehensive study of the transformation of startup ecosystems in the context of the digital revolution, globalization, and the spread of breakthrough technologies. The authors analyze the historical stages of innovative entrepreneurship development – from the emergence of venture capital in Silicon Valley to the formation of high-tech clusters in Europe, Israel, and Ukraine. Particular attention is paid to the impact of breakthrough technologies, such as artificial intelligence, blockchain, the Internet of Things, and ESG approaches, on business model changes, investment attraction, and enhancing the competitiveness of startups. The article systematizes the key components of the ecosystem: entrepreneurs, investors, educational institutions, incubators, accelerators, government bodies, corporations, and technology hubs. Their interaction is presented as a source of synergy that facilitates the scaling of innovative projects. The dynamics of the startup ecosystem development in Ukraine during 2022–2024 have been analyzed, particularly the growth in the number of projects, the increase in investments, the expansion of international presence, and institutional support. At the same time, barriers have been identified: regulatory instability, limited funding, and a shortage of skilled personnel, which require systemic reforms. It is argued that integration into global innovation networks, development of public-private partnerships, expansion of support infrastructure, and focus on sustainable development principles are strategic priorities. Future research prospects include mechanisms for stimulating venture capital, optimizing interactions between market participants, and assessing the impact of emerging technologies on the business environment.

Keywords: startup, ecosystem, innovation, innovation-driven development, incubators, accelerators, innovative projects.

Fig.: 2. Tabl.: 6. Bibl.: 19.

Marchenko Olha I. – Candidate of Sciences (Economics), Associate Professor, Head of the Department, Department of Management and Business Administration, State Tax University (31 Universytetska Str., Irpin, Kyiv region, 08205, Ukraine)
Email: [email protected]
Tsykulova Albina Е. – Student, State Tax University (31 Universytetska Str., Irpin, Kyiv region, 08205, Ukraine)
Email: [email protected]

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