Starting with the invasion by Russia in 2022, Ukraine would emerge as the hotbed for defense innovation, essentially a war-torn landscape which had become a center of development of military technologies.While the nation struggles to cope with the depleting effects that war has on its economy and infrastructure, it is straining to hold a leading place among its peers in the world in the sector of defense.Though the estimated capacity of production is roughly $20 billion worth of weapons and equipment, the state budget can afford only some $6 billion. In trying to bridge that financial gap and drive its defense industry, Ukraine seeks foreign investment and strategic partnership.

From Traditional to Innovation-oriented Defense

According to Michael Hewitt, co-founder and chief executive of IP3, Ukraine’s defense sector is very different today. The focus has shifted from more traditional defense capabilities to innovative technologies tailor-made for asymmetric warfare. This ranges from drone warfare across…