Lyuba Guk & David Gilgur: Ukrainian Startups and the Global Tech Landscape | Episode 35

Nothing Ventured

On this episode of Nothing Ventured, Aarish Shah interviews Lyuba Guk and David Gulka, co-founders of Blue Lake, a VC firm supporting immigrant founders in the UK. They discuss the resilience of the Ukrainian ecosystem, transitioning from SMEs to investing in migrant founders, the prevalence of migrants in founding unicorn ventures, and the importance of building a community for international founders. The conversation touches on the challenges and rewards of being a founder, emphasizing the need for VCs to focus on investing. Additionally, they highlight their free ecosystem initiative, International Office Hours 3.0, which is now open for applications and aimed at supporting international founders. For more information, visit https://www.internationalfounders.co.uk

Timestamps:
00:00 - Introduction to Nothing Ventured Podcast
00:11 - Overview of Blue Lake VC Firm
00:29 - Resilience in the Ukrainian Ecosystem
01:07 - Building a Super Community for International Founders
02:07 - Impact of the Russian Invasion on Ukrainian Founders
05:25 - Shift to Military and Defense Tech in Ukraine
07:12 - Opportunities for Investors in the Ukrainian Ecosystem
10:49 - Personal Reflections on the Invasion
14:42 - Evolution of Blue Lake from Accelerator to VC Firm
18:08 - Challenges of Founder Education
20:27 - Overeducation and the Founder Journey
24:24 - The Illusion of Universal Founder Success
25:36 - Transition from Accelerator to Investment Focus
26:38 - Blue Lake's Syndicate Investment Model
29:18 - Traits of Successful Migrant Founders
32:32 - Community Support for Migrant Founders
35:53 - Resilience and Grit in Migrant Founders
38:28 - Fragmented Immigrant Communities
41:07 - Geographic Spread of Migrant Founders
44:12 - Potential of the African Startup Ecosystem
47:35 - Future Expansion Plans for Blue Lake