EP 246 - Andrew Zinchuk - Managing Partner at ZAS Ventures - This Is Not Safe but I Keep Going, I Just Want to Live My Life
Dec 13, 2022
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Andrew Zinchuk, Managing Partner at ZAS Ventures, shares his entrepreneur journey, the differences between Eastern European and US startups, the challenges faced by fully remote startups, and the growth of the Ukrainian startup ecosystem.
The war with Russia has sparked a shift in mindset in Ukraine, leading to a rejection of Russian influences and a solidification of Ukrainian identity.
Despite the challenges brought about by the war, Ukrainians continue to persevere and maintain a sense of normalcy, adapting to infrastructure issues and personal security concerns.
Deep dives
Changing Mindset and Nation Building
The mindset in Ukraine has drastically changed since the war with Russia began, with younger generations embracing Western values and rejecting pro-Russian sentiment. The war has acted as a catalyst for the nation to solidify its identity and rid itself of Russian influence. Ukrainians have become more socially conscious, caring about environmental issues and supporting local businesses. The war has also led to a cleansing of Ukrainian society, removing individuals who had pro-Russian sentiments or collaborated with Russian forces. This shift in mindset has brought about changes in language usage, religion, and social values, with Ukrainians embracing their own culture and rejecting Russian influences.
Impact on Daily Life
Day-to-day life in Ukraine has been affected by the war, particularly in terms of personal security. The constant threat of missile strikes and drone attacks has created a sense of uncertainty, but many Ukrainians have chosen to carry on with their lives while being vigilant. The war has also led to infrastructure challenges, such as scheduled and unscheduled power outages, causing individuals to adapt, find alternative sources of energy, and adjust their daily routines. Despite the challenges, people continue to persevere and maintain a sense of normalcy amidst the instability.
Outlook for Ukrainian Startups
The war and its aftermath are expected to have a significant impact on the Ukrainian startup ecosystem. The devaluation of assets and the influx of international funds previously destined for Russia will likely redirect investments towards Eastern Europe and Ukraine. This presents a unique opportunity for Ukraine, as the country is expected to experience a startup boom, with increased funding and a growing ecosystem. As the war comes to an end, investors are likely to show more interest in Ukrainian startups, leading to a resurgence in entrepreneurship and innovation in the country.
Asia Tech Podcast recorded an interesting conversation with Andrew Zinchuk, a Managing Partner at ZAS Ventures. ZAS Ventures is a venture capital firm in San Francisco & Kyiv, that boosts outstanding entrepreneurs from Central & Eastern Europe building SaaS & cloud startups.
Some of the topics discussed by Andrew:
How Andrew's entrepreneur journey after his idea was “stolen”
Ukrainians are amongst the top 10 unicorn founders in the US
Andrew's layers of reasonings behind running his own company
How Eastern European startups conduct things differently compared to US startups
Two significant issues being faced by fully remote startups
Some other titles we considered for this episode:
You’re Sinking, You’re Sinking, You Have Something on Your Neck That’s Breaking You Down