Russia-Ukraine conflict sparks entrepreneurial spirit around the world


Gyan Bhambhani

Despite massive missile strikes, the Ukrainian banking system continues to operate without interruption thanks to the National Bank of Ukraine’s constant contact with banks and implementation of necessary measures.

Amidst the ongoing conflict between Russia and Ukraine, the unwavering entrepreneurial spirit of communities across the globe has emerged as a source of hope and inspiration. From the emergence of social enterprises to the adoption of crowdfunding campaigns, Ukrainians have demonstrated remarkable resilience and strength in the face of adversity.

“I have seen this even in our Plesanton community during the COVID-19 pandemic with grocery companies like Cheetah,” said Jackson Deaver (‘23).

To contextualize, Ukraine’s economy shrank by more than 30% in 2022 after Russia’s brutal invasion destroyed infrastructure, hurt businesses, and disrupted daily life around the country.

In order to give back to their community, social enterprises have developed and played a critical role in providing essential services such as food and shelter to war-torn cities. One such enterprise, the Ukrainian Freedom Fund (UFF), was reactivated in response to Russia’s continued aggression.

“I believe that crowdfunding is a powerful tool that can be used to raise money for those in need. I have seen social enterprises use crowdfunding to help rebuild communities and provide essential services,” said Deaver.

In addition, crowdfunding campaigns in Ukraine have been used to support everything from medical supplies to food. Specifically, in the Bay Area, the Ukrainian American Coordinating Council, based in San Francisco, has raised funds for medical supplies while Palo-Alto based group Nova Ukraine has been putting together humanitarian aid packages.

“I have also seen social enterprises come up with new ways to provide services and support to those who have been affected by the war,”said Amir Salehifar (‘23).

Despite the challenges they face, the global community has often cited that Ukrainians have shown resilience and strength in the face of adversity – their ent

“I am inspired by their resilience and hope. I truly believe that countries like the US and the UK have the potential to help other countries get through their struggles,” said Salehifar.