Throughout the week at the large-scale investment event - SelectUSA Investment Summit 2024, which took place in the USA, DroneUA actively presented the Ukrainian technology business, shared and adopted foreign experience, established important business connections, and looked for ways to attract international investments. Thus, on June 26, the last day of the event, the Ukrainian delegation gathered at the Chemonics International office to summarize the results of their participation in the SelectUSA summit.
"For our team, participation in SelectUSA was an absolute success. We found new places for business development, gained support from our embassy, and had the opportunity to interact with different states. The presence of Oksana Markarova, Ambassador of Ukraine to the USA, at the exhibition and visiting the booth in Pennsylvania, where our first headquarters in the USA is located, attracted significant attention and recognition of our efforts," - said Valerii Iakovenko, CEO and Managing Partner of DroneUA.
The main part of the event took place in Washington, but key discussions concerning the opportunities and prospects for the development of Ukrainian business occurred at parallel events within the summit. The Ukrainian delegation visited universities, technology clusters, and various communities focused on attracting new investors. "The renewable energy event organized by the states of New Jersey, Delaware, and Pennsylvania proved to be particularly useful. Companies interested in specific industries should attend such events. They create opportunities to build communication with people who are not present at the main summit," - noted Iakovenko.
The general idea of the meeting at Chemonics was to improve future support programs for Ukraine and its businesses with a perspective for several years ahead. The delegation discussed the current and future directions of Ukraine's development, as well as ways to create an exceptional economy that will attract investments and position Ukraine as a leading place for business development. "It is very important to hear the business representatives, their requests and pains, to understand what requires priority assistance. Our delegation shared their own vision and experience, as well as conducted quality communication with the management of Chemonics. This meeting will ensure the creation of an agenda for implementation in the near future," - shared Valerii Iakovenko.
An important aspect of DroneUA's participation in the summit was the presentation of Ukrainian tech businesses and training on attracting investments. "This knowledge should be transferred not only to Ukrainian entrepreneurs but also to local government officials. They need to learn how to attract investments to Ukraine. Ukrainian officials can learn a lot from the SelectUSA experience," - emphasized the CEO and managing partner of DroneUA.
Drawing on the experience of attracting investments by state governments in the USA, Valerii Iakovenko notes the significant impact of the spirit of healthy competition among governors, which encourages creativity in seeking additional funding: "Ukrainian regional heads, mayors, and other high-ranking officials could greatly benefit from implementing similar strategies in Ukraine. Successful recovery of Ukraine requires significant funding, which will largely depend on how well the regions can independently attract investments."
No less important for Ukraine is the validation of domestic products and services by American educational institutions: "At the event, almost every state and booth included representatives from their universities. This is a great opportunity for companies like ours because, regardless of how successful we are in Ukraine or Europe, our products or services must be validated by American universities to gain recognition in the US market. That is why our first contact often happens with people from the university community," shared Iakovenko.
One of DroneUA's areas of activity is services for the agricultural sector using drone sprayers, which cover about 3 million hectares, surpassing the combined efforts of all European countries. One of the key reasons for the rapid growth of Ukraine's agricultural drone business is deregulation. Market players, associations, and stakeholders independently set standards and ensured growth with minimal government intervention. However, the agricultural robotics market in the USA is still young, so it is important for local farmers to have a clear demonstration of the local effectiveness of the technology. Therefore, cooperation with American universities is crucial. DroneUA's experience vividly highlights that the academic community is a key stakeholder in validating new methods and technologies across all sectors.
"Looking back, I can confidently say that our experience at the summit was successful. We already understand that we will be participating in SelectUSA in the future because understanding the local economy, needs, and partnerships can only be achieved through direct communication with people. The summit opened up new opportunities for us to build international partnerships, which will undoubtedly be an important step towards Ukraine's economic growth," - concluded Valerii Iakovenko.
DroneUA's participation in the summit was organized with the support of the USAID Competitive Economy Program, the US Department of Commerce, the Office of International Trade, and the US Embassy in Ukraine. DroneUA also expresses gratitude to the Chemonics team for their long-term support of Ukrainian initiatives: small and medium-sized businesses, the Ukrainian IT community, and entrepreneurs.
