Commercialization of Scientific Research

Oleksandr Shaiko-Shaikovsky

Ukraine has a great scientific potential. Today, Ukraine is one of seven countries in the world with the space state status. Ukraine is ranked the 5th in the world for the number of certified IT professionals and is one of the world centers of IT outsourcing.

Within the Soviet Union, with 18% of the total economically active population, Ukraine manufactured almost 40% of the scientific and technical products and new technologies. According to the UNESCO, at that time Ukraine's share in the global engineering and scientific capacity was nearly 7%.

Collapse of the USSR led to a disruption of scientific and industrial cooperation in Ukraine. For more than 20 years, Ukrainian science and industry have been developing in parallel and are slightly crossing now. One of the main reasons is a loss of industrial research institutions being a bridge between basic science and business.

Today, the task of the country is to revive this links using new market mechanisms. Creating a network of investment funds, such as 'Bukovyna', can help in commercialization of Ukrainian science.

In Chernivtsi region, excellent traditions of medical science have remained. 'Bukovyna' Fund has become an investor of "Chernivtsi medical innovation company".