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FarmFleet іnsights from the SelectUSA summit – revitalizing Ukraine’s economy: innovation and human capital

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In the process of Ukraine's economic revival, the agricultural sector plays a most important role. Agriculture forms the foundation of a sustainable economy, contributing significantly to the country's GDP and enhancing its export potential. In the face of modern challenges, there is a need for the implementation of innovative solutions, the attraction of investments, and the creation of new international business partnerships. Unmanned technologies open up vast prospects and opportunities for increasing the investment appeal and profitability of agribusiness. On June 21, at the Ukrainian House in Washington, FarmFleet joined the event "Ukraine's Economic Revival: Innovation and Human Capital." During the event, prominent speakers from various countries, including Oksana Markarova, Ambassador of Ukraine to the USA, and James Golsen, Deputy Director General of the U.S. Commercial Service, shared their thoughts on the pivotal role of innovative unmanned technologies and human capital in Ukraine's recovery.

The event brought together a Ukrainian delegation composed of experts from various fields: over 30 mature companies and startups representing the country's technological and innovative ecosystems.

"We are proud to be part of this remarkable delegation and honored to be represented at today's event. The significance of today's event cannot be overstated. It has created an essential platform for showcasing Ukrainian businesses and overcoming the various challenges they face daily, from staffing issues to innovations in robotics production and the development of advanced industries," - said Valerii Iakovenko, CEO and managing partner of FarmFleet.

Overall, the main focus of the discussions was on seizing the opportunities that have arisen during the most challenging times for the Ukrainian economy, thanks to the flexibility, creativity, and ambitions of Ukrainian business leaders.

"Today, Ukraine is one of the leading players in the production and implementation of electronic components and robotics. This position underscores the potential for future partnerships in electronics manufacturing with the USA," - emphasized Valerii Iakovenko.

The event also included valuable insights from representatives of other innovative businesses regarding the prospects of Ukrainian companies in the American market. The Ukrainian business representatives at the event could be divided into two groups. The first group is exploring the possibilities of entering the American market, studying its capacity, requirements, and needs. The second group consists of companies that have already recognized Ukraine as an attractive partner for supplying equipment, services, or participating in global manufacturing partnerships.

"Currently, we see two segments of Ukrainian business: those who are just beginning to consider the USA as a gateway to the global market and those who are already actively working and deepening their cooperation with the USA. Most of the event's guests were participants in the SelectUSA Investment Summit 2024. This summit provides mature companies and startups with a unique opportunity to experience the level of government support available in the USA. Commercial institutions and various state economic development offices are effectively competing for the presence of new companies and partners in their markets. This experience should be leveraged to scale our businesses and conveyed as essential for Ukrainian state institutions, especially during Ukraine's recovery," - analyzed Valerii Iakovenko, CEO and managing partner of FarmFleet.

The SelectUSA Summit 2024 highlighted the opportunities at the state level for opening significant investment avenues and expanding the activities of Ukrainian businesses on the global stage through collaboration with public and private institutions in the USA.

The event "Ukraine's Economic Revival: Innovation and Human Capital" took place at the Ukrainian House, a cultural hub created by the Ukrainian Embassy in the USA. This venue underscores the importance of technological diplomacy, a relatively new concept where Ukrainian businesses and even individual engineers become ambassadors for Ukraine on the global stage. They engage in small discussions, sharing daily experiences gained in Ukraine.

The Ukrainian Embassy in the USA, with its structured approach to engaging representatives from various industries and spreading Ukrainian perspectives, plays a key role. However, the Ukrainian House in Washington allows for more flexible communication of our ideas and presence on the global communication stage. The collaboration between the Ukrainian House and the embassy serves as a model for similar public relations, communication, and event efforts in other allied countries of Ukraine.

"Focusing on innovation and strengthening the direction of education, science, and innovation at the Ukrainian House is a significant step forward. It's important to discuss the importance of innovation and science not only in the traditional sense, where obtaining a diploma takes years, but also in the context of the current situation in Ukraine. After achieving victory on the battlefield and reaffirming independence, Ukraine must rebuild the country and the economy. This requires specialists with diverse professional skills, which are currently in short supply. Therefore, increasing the speed of training is vitally necessary, not only by improving the quality of education in Ukraine, which is already quite high but also through collaboration with international institutions, academics, and educational establishments," - concluded Iakovenko.

The new direction at the Ukrainian House, focused on knowledge exchange, experience sharing, and establishing new partnerships, is undoubtedly a significant and confident step toward future human capital and the implementation of new unmanned technologies necessary for Ukraine's recovery, particularly in the agricultural sector.

The integration of innovative unmanned technologies into agriculture is a crucial step towards the economic revival of Ukraine. Unmanned technologies not only enhance the productivity of agricultural enterprises but also create new jobs, stimulate investment inflows, and promote an environmentally friendly approach to production. An agricultural sector enriched with modern technologies becomes a powerful driver of economic growth and the country's recovery.