Ruslan Timofeev (Ruslan Tymofieiev): «Nothing ventured, nothing gained»
The Ukrainian startup market is significantly improving thanks to powerful domestic investment funds. Adventures Lab is the one that has proved its reliability and willingness to promote interesting and developing projects in the country. Its recognized reputation on the market is obvious though it was set up relatively recently. The founder of Adventures Lab is Ruslan Timofeev (Ruslan Tymofieiev). He told us about the achievements of Adventures Lab, possible risks, and the perspectives of Ukraine in the IT sector.
Promising forecasts for Ukraine
Though Ukrainian IT is not moving forward so fast as is expected, considerable steps have been made towards the development of the startup market, Ruslan Timofeev commented. Despite the crisis in 2013 and the global coronavirus pandemic in 2020, the Ukrainian market was doing everything to stand up to the trials and keep on moving.
The founder of Adventures Lab believes that now Ukraine is at the stage of IT revival in the country. Many opportunities are being disclosed to young businessmen ready to develop the IT segment in Ukraine. Ukraine is far from the IT development in the USA, but its domestic startup market has considerably improved its position compared to Eastern European standards.
Also, Ruslan Timofeev adds that the main difference between the domestic venture capital investment and, for instance, the US is the unwillingness of local investors to contribute to risky projects. It is clear why they act like this, but if to stick to this approach, Ukraine will not see any project worth more than 1 billion like Uber or Didi Chuxing in the future. The founder believes that investors should try their luck with a thorough analysis of the project. As it is said, «nothing ventured, nothing gained.»
Leading Adventures Lab
Ukraine should be proud of existing investment structures that invest in Ukrainian startups and various projects to raise its reputation and develop the IT industry. Adventures Lab is one of the leading Ukrainian investment funds whose average investment is from 100,000 to 500,000 US dollars. Since its establishment in 2019, it has shown its eagerness to contribute to domestic projects and promote them to the international market. It has invested in new 14 startups in their pre-seed stage, which reached success. The amount of money it has invested in different projects is impressive, more than 15 million dollars.
The Adventures Lab team follows two funding rounds: pre-seed and seed. Ruslan Timofeev (Ruslan Tymofieiev) explains that the pre-seed stage involves an investment in an idea or a prototype of the product. Accordingly, this stage incorporates two elements: idea and prototype. The latter can be suggested to a buyer as a product. Usually, the investment in the pre-seed round is not big, between $100,000 and $200,000. On the other hand, the seed stage involves the product’s scaling on the market and making millions.
Of course, selecting projects to invest in is time- and labor-consuming. The entire process engages specialists to find projects that interest the target audience, not the investor. Moreover, professionals need to analyze many other factors: brand development strategy, the proficiency of employees, financial performance, top management skills, and their background, etc. Thus, monitoring the market for projects, each criterium is considered and evaluated.
In addition, Ruslan Timofeev points out some significant startup investments of Adventures Lab: Reface, StreamHERO, EduDo, and others. Thus, the Ukrainian foundation invests in their improvement and further innovative development. By this, he believes the Ukrainian ecosystem is developing in the right direction.