Impact instead of declarations: how Kyiv sought economic solutions for Ukraine's recovery

Over 170 entrepreneurs, investors, representatives of the state, the public sector and international organizations gathered at Kyiv Impact Entrepreneurs Meetup #5. They talked about capital for business, female leadership, inclusive employment, rehabilitation and partnerships, without which recovery risks remaining a set of separate initiatives.

When people talk about Ukraine's recovery, infrastructure, investment, and new jobs are most often mentioned. Much less often, trust between sectors, inclusive business models, and the ability of enterprises to solve social problems while remaining economically viable.

It was this less visible but critically important recovery infrastructure that was discussed on May 27 in Kyiv during the Kyiv Impact Entrepreneurs Meetup #5 “Impact Economy in Action: Solutions and Partnerships for Ukraine’s Recovery.”

The event brought together for the fifth time representatives of the environment that continues to take shape in Ukraine even during a full-scale war. The meeting was attended by over 170 participants: social entrepreneurs, representatives of large and medium-sized businesses, state institutions, civil society organizations, donor programs, international partners, rehabilitation centers, and the expert community.

At the heart of the conversation was a practical question: how to transform social impact from an additional component of individual projects into part of the country's economic recovery model.

From good intentions to viable models

The event was opened by Katarina Nilsson , First Secretary of the Embassy of Sweden in Ukraine, Olena Kalibaba , CEO of Ukrainian Social Venture Fund, Anna Gulevska-Chernysh , Chairwoman of the Board of SILab Ukraine, and Sofia Breitholz , CEO of Reach for Change.

The introductory part discussed the impact sector as an environment in which entrepreneurship, social responsibility and investment should work together. For Ukraine, this issue goes far beyond the boundaries of professional discussion. The war deepened inequality, changed the labor market, and increased the need for rehabilitation and social services. At the same time, it forced business, the state and the public sector to quickly seek new models of interaction.

This topic was continued by the expert blitz dialogue “Impact Economy as a Driver of Sustainable Development: Dialogue between Ukraine and Sweden” . The conversation was joined by Katarina Nilsson, Iryna Gubarets , Coordinator of Private Sector Development Projects at the EU Delegation to Ukraine, Yaroslav Demchenkov , Head of International Programs and Projects and Advisor to the Chairman of the Board of Oschadbank, Kateryna Glazkova , Executive Director of the Union of Ukrainian Entrepreneurs, and Yevheniy Shakotko , Project Manager of Business Sweden in Ukraine.

The Swedish experience became a starting point for conversation, but not a ready-made template that can be mechanically transferred to Ukraine. Participants discussed which elements of a developed social economy can be adapted to Ukrainian conditions, how to combine grant opportunities with bank financing and private capital, and what needs to change so that impact enterprises can scale.

A separate topic was trust. For an investor, a transparent model, clear financial indicators, and growth prospects are important. For an entrepreneur, access to a long-term resource, not financing a single activity. For the state and communities, solutions that meet real needs and can work after the grant project is completed.

This triangle is where the impact economy takes shape: the impact must be measurable, and the business model must be viable.

Women's entrepreneurship as a resource for sustainability

One of the main focuses of the meetup is the role of women in the development of the impact economy. Since the start of the full-scale invasion, thousands of Ukrainian women have started their own businesses, taken over the management of enterprises, created jobs, and continued their activities in communities where traditional economic ties have been destroyed.

At the same time, the mere fact of increasing the number of women in entrepreneurship does not mean equal access to opportunities. During the panel discussion "Women's Entrepreneurship in the Impact Economy: Role and Influence", access to financing, professional networks, expertise, and management positions were discussed.

The conversation was joined by Natalia Gavatyuk , Deputy Head of the Kyiv Regional Military Administration, Anna Milenina , Advisor to the Director of the Office for Entrepreneurship and Export Development, Larisa Latypova , Deputy General Director of SOCAR Energy Ukraine for Corporate Governance and Founder of the “Girls” Gastroclub, and Maryna Ignatenko , CFO of Scania Ukraine. The discussion was moderated by Anna Strakhovska , Head of the “Diya.Business” Entrepreneur Support Center in Bucha.

The speakers' experiences showed different levels of influence - from government policy and entrepreneurial ecosystem development to corporate governance and local business communities. However, the common view remained: supporting women's entrepreneurship must go beyond short training programs. Entrepreneurs need access to markets, financial instruments, mentorship, professional connections and the opportunity to participate in shaping economic decisions.

This is especially important for the impact economy. Women are often the ones creating businesses in areas such as care, education, food production, local services, and integration of vulnerable groups—where entrepreneurial decisions directly impact the resilience of communities.

Inclusion that makes business sense

While one room was discussing female entrepreneurship, another room was discussing how diversity can affect the competitiveness of companies.

The workshop "Inclusive Business: Competitive Advantage of Diversity" was moderated by Olena Kalibaba. Practical cases were shared by Anastasia Petrova , coordinator of partnerships in the field of social impact at Beetroot Academy, and Karina Bului , manager of diversity, equality and inclusion projects at MHP.

The main thesis of the discussion was that inclusion should not remain exclusively a matter of corporate social responsibility. For businesses, it is a matter of access to talent, quality of management, reputation, and the ability to work with diverse consumer groups.

In the Ukrainian context, this conversation takes on special importance. Veterans, people after injuries, internally displaced citizens, and those forced to change professions are returning to the labor market. Some workers need retraining, an adapted workplace, or a different format of interaction with the employer.

Companies that are the first to learn to systematically work with these changes will gain more than a positive reputation. They will expand their human resource pool and better match the real structure of Ukrainian society.

Recovery partnerships: who pays and who is responsible

A parallel panel discussion “Public-Private Partnerships: Models of Collaboration for Recovery” was held. It was moderated by Olesya Volska-Zaluska , Director of the FCDO BLOOM Consortium at Mercy Corps Ukraine.

The panel was joined by Oleksandr Vakhovsky , coordinator of the national project "Side by Side: United Communities", Borys Shestopalov , co-founder of HD-group and GFSGROUP, Alina Tokmylenko , head of the community work department at The Possible, and Oleksandr Tebbe , founder and CEO of Crowd Ukraine Invest AG.

The conversation about recovery quickly boils down to questions of responsibility. The state cannot finance all needs on its own. Business will not invest without clear rules and a predictable return on capital. Communities often have acute problems, but do not always have sufficient capacity to prepare quality investment projects.

This is where public-private partnerships can become a working tool, rather than a general formulation in strategies. The discussion considered models for attracting private capital, cooperation between communities and businesses, as well as financial solutions that can direct funds to projects with public value.

A key condition for such cooperation is clearly defined roles. Partnership begins not with a signed memorandum, but with a shared understanding of the problem, risks, resources, and expected outcome.

What an impact investor is looking for

The issue of capital continued to be discussed after lunch during the workshop "What Impact Investors Really Want: Preparing Ukrainian Startups for Investment."

It was hosted by Martin Vogelsang , an impact investor and social entrepreneur from Germany. The conversation was moderated by Olena Kalibaba.

For many Ukrainian social enterprises, attracting investment remains a difficult stage. The founders are good at explaining the social problem they seek to solve, but much less so at explaining the financial logic of the enterprise, its ability to scale and generate revenue.

A strong mission is not enough for an investor. They evaluate the team, the market, the risks, the financial model, and the growth opportunity. Social impact strengthens the investment proposition when it is part of the product or service, rather than an additional charitable direction.

This does not mean that the social mission should give way to profitability. On the contrary: economic sustainability allows a company to work on a problem longer and reach more people.

The public sector between grants and entrepreneurship

Another difficult conversation concerned the role of civil society organizations in the social economy.

The panel was moderated by Artem Kornetsky , co-founder and CEO of School of ME and co-founder of Ukrainian Social Venture Fund. The discussion was attended by Inna Pidluska , Deputy Executive Director of the International Renaissance Foundation, Stanislav Onyshchuk , Head of the First Voluntary Surgical Hospital “Brass”, Volodymyr Ternavskyi , CEO of EcoVisio from Moldova, and Andriy Khantil , specialist in corporate and contract law.

After 2022, NGOs took on a significant portion of the work related to humanitarian assistance, supporting the military, IDPs, veterans, and people affected by war. However, relying solely on grant funding makes organizations vulnerable to changing donor priorities.

Social entrepreneurship can help diversify income, but requires a different management approach, legal training, and willingness to work with the market. Participants talked about how CSOs can combine a social mission with entrepreneurial tools without losing trust and their own identity.

Rehabilitation as a new industry of the impact economy

One of the most pressing topics has been rehabilitation. Before the full-scale war, it was often perceived primarily as part of the medical system. Today, it is a complex sector at the intersection of medicine, social support, psychological recovery, employment, technology, and local development.

The discussion “Rehabilitation as an Impact Sector: From National Experience to Local Solutions” was moderated by Anna Gulevska-Chernysh. The panel included Oleg Bilyansky , Head of the UNBROKEN National Rehabilitation Center, Andriy Kravtsov , Founder and Co-Owner of the VIDNOVA Rehabilitation Center Network, and Oksana Zelinska , Deputy Medical Director for International Partnerships at the Superhumans Center.

Large centers have already accumulated experience that was practically non-existent in Ukraine a few years ago. However, the need for rehabilitation services significantly exceeds the capacity of individual institutions. Therefore, the next challenge is to scale up quality practices to the regions, train specialists, develop local centers, and find financial models that do not depend on a single source of funds.

Rehabilitation is becoming a separate impact sector, since its result is not measured by the number of procedures. It is about returning a person to an active life, work, family and community. That is why it requires interaction between medical institutions, social services, business, the state and investors.

Networking with a specific request

Throughout the day, the event featured an Impact Wall where participants left requests, contacts, collaboration proposals, and information about resources they were willing to share.

This format changed the usual logic of networking. Instead of a general exchange of contacts, people could immediately indicate who or what they were looking for: a partner for a project, an expert, an investor, an organization for a joint program, or an opportunity to scale their own solution.

These are the connections that often become the most practical outcomes of professional events. A panel discussion may outline a problem, but change begins when two organizations agree to work together afterward.

A war that is difficult to talk about in the language of presentations

The meetup ended with the performance "Military Mom" by the Veterans Theater and reflection with the creative team.

After a day filled with conversations about investments, business models, partnerships, and economic mechanisms, the performance brought the participants back to the human experience—their experiences of war, loss, stress, and attempts to rebuild their own lives.

This conclusion was an important reminder: behind the concepts of “social impact” and “recovery” are concrete human stories. Economic solutions only make sense when they help people regain agency, security, and the ability to plan for the future.

Recovery as a shared responsibility

Kyiv Impact Entrepreneurs Meetup #5 did not provide simple answers to the question of what the Ukrainian impact economy should be. Instead, it showed an environment that is ready to seek them.

Social entrepreneurs need access to capital and markets. Investors need strong teams and transparent models. Communities need partners who can implement solutions on the ground. NGOs need financial sustainability. Businesses need new approaches to employment and engagement with society.

None of these sectors can cover the recovery needs on their own.

The impact economy begins where a social problem is no longer perceived as just an expense, but is seen as a space for innovation, entrepreneurial solutions, and long-term partnerships.

It is these connections—between impact and viability, between government and business, between international experience and local needs—that can become the foundation of a recovery that will last longer than a single project or grant cycle.