For 17 years, the UCU Business School has been shaping a new generation of managers, entrepreneurs, and leaders who build innovative companies, drive economic growth, and change the rules of the game. But the journey to becoming such an institution was far from easy.
How did the idea of founding a business school at a Catholic university emerge when the culture of business education in Ukraine was still in its infancy? What challenges had to be overcome? How has the School evolved over the years, and which core principles have remained unchanged? What role did international cooperation and the support of the business community play?
We explore these and many other questions in a conversation with those who were there at the beginning — founding dean Sophia Opatska and SoftServe Vice President Oleh Denys. How were the first strategic decisions made? What does high-quality business education mean today, and how will it shape the future of Ukrainian entrepreneurship?
Find the answers in our feature article.
The First Steps: Responding to a Market Need
Co-founder Oleh Denys notes that the School’s development was guided by a clear philosophy: to support the growth of Ukraine’s business environment through quality education. At the time, he and his fellow co-founders saw an urgent need for professional development—not only for business owners but also for managers who could take businesses to the next level.
“All of us had completed the Kyiv-Mohyla Business School and realized how important education is for leaders. We wanted to accelerate the development of Ukrainian companies through business education,” Denys recalls.
He adds that no one was thinking in terms of student numbers or programs at the time—the focus was on quality and real impact.
“Could we have had more students? Maybe. But for me, quality has always mattered more than quantity. Before the war, we liked to say things could have been better. Now, the most important thing is that we’re still working and moving forward,” he adds.
The UCU Business School was born out of a business-driven initiative—not from academia. This defined its focus: practical knowledge to help entrepreneurs tackle real-world challenges.
Seventeen years ago, Denys explains, there was a severe lack of qualified managers in Ukraine with a structured understanding of management.
“Everyone thought their business was unique. But once interaction began, it became clear: approaches differ, but there’s even more in common. No business challenge is entirely unique—similar cases have occurred elsewhere and can be studied.”
Business Education: A Necessity, Not an Option
Sophia Opatska emphasizes that over these 17 years, business education in Ukraine has undergone significant transformation. Once perceived as mysterious or elite, it has now become essential for competitiveness.
“When we started in 2008, few understood why they should invest tens of thousands of dollars in education that takes you out of your comfort zone—and only pays off after a few years—when that money could be spent on something practical right away. But as the market evolved and competition grew, entrepreneurs realized that without quality education, it’s hard to compete internationally,” she explains.
This shift became especially noticeable after the 2008 financial crisis and later the Revolution of Dignity. Many Ukrainian companies began targeting Western markets and felt the need to update their knowledge in order to speak the same language as international partners.
“The Business School became a bridge between Ukraine and the global world. We invite international faculty to help entrepreneurs navigate global trends and stay competitive,” says Sophia Opatska.
Read the interview with UCU Business School CEO Yaryna Boychuk.
Denys adds that the culture of lifelong learning is gradually becoming the norm in Ukraine.
“In the past 20 years, I’ve seen learning become part of the culture. It’s no longer a duty—it’s an exciting process that brings new opportunities and broadens horizons. Learning is as thrilling as reading a great book or meeting new people,” he shares.
In Denys’ view, investing in education is primarily an investment of time—the most valuable resource in today’s fast-paced world.
Learning formats may vary: online courses, live discussions, lectures, clubs, or research projects. What matters is not just reading books, but also reflecting, exchanging ideas, and engaging in dialogue—even with children. Discussing business with the younger generation is another valuable form of educational investment.
The Secret to Growth: Staying True to Values
According to Denys, the School has grown thanks to its loyalty to its values and openness.
“We’re not just teaching business—we’re shaping a philosophy. All income is reinvested into the School’s development. This isn’t a business project in the conventional sense—it’s a cause we genuinely care about,” he notes.
Sophia adds that the School has always operated like a startup—quickly responding to market demands and flexibly expanding its offerings.
“We were quick to launch new programs, introduced English as a mandatory component back in 2012, and continuously adapted to business needs. We’re not afraid to launch new initiatives—or to shut down those that have lost relevance,” she explains.
Overcoming Crises: COVID-19 and Full-Scale War
The School entered the COVID-19 pandemic better prepared than most, thanks to strategic planning at UCU.
“The university had a crisis team that developed a return-to-campus plan in May for the 2020–21 academic year—while most others were only starting to react in August,” recalls Sophia Opatska.
During the full-scale invasion, a strong alumni and faculty community played a key role.
“People trusted the School. They supported each other—even if they didn’t know each other personally. This was already visible during the Maidan, and in 2022, it became crucial. We also quickly reassured students that business must continue—and so must learning,” she adds.
Sophia highlights the leadership of Yaryna Boychuk, who guided the School through both crises.
“It takes patience and strategic thinking to lead a school through such challenges,” she concludes.
Turning Points and Tough Decisions
One of the most important decisions in the School’s development, according to Sophia, was launching new master’s programs with unique focus areas—not just replicating the classic MBA model.
“After many conversations with American universities, I realized that Ukraine wasn’t on the radar of global business education. Our programs were too small to attract attention. That’s when I understood two things: we needed new programs with niche specializations, and they had to be in English,” she says.
The first challenge was that some potential students lacked English proficiency, which meant turning away some of the initial applicants. But the strategy proved successful: all subsequent cohorts were fluent.
The second major decision was rebranding the School—solidifying its position as a leading business education institution in Ukraine.
“We proved that having a business school within a Catholic university is completely normal—and in line with global practice. That was a significant step forward,” she adds.
Denys stresses that the hardest decisions always involve people.
“Everything related to numbers is easier. The toughest decisions involve people: faculty, students, staff. Not every decision can please everyone, and those are the most emotionally difficult moments,” he says.
Innovative Approaches That Set New Standards
The UCU Business School introduced several approaches that later became popular in Ukraine. One of them was team-based learning, where participants from non-competing companies study together—creating a safe space for diverse perspectives and experience-sharing.
Another key innovation was the development of research centers, which enabled the publication of international research, integration of cutting-edge knowledge into the curriculum, and development of expertise in key areas.
“The UCU Business School’s centers are spaces for the growth of entrepreneurs, leaders, and business owners. They help launch startups, foster responsible leadership, and support family businesses in their sustainable growth,” adds Sophia Opatska.
Ukrainian Businesses on the Global Stage
Denys notes that entering global markets depends not only on education but also on geopolitics.
“In our field—especially in IT—our company is doing everything it can to put Ukrainian business on the global map. And in IT, we’ve been quite successful. Other industries have good examples too. But a lot depends on the political context and how Ukraine positions itself. The war has drawn huge attention to Ukraine. It’s important not to lose that momentum—but to turn it into economic strength,” he says.
As for business education’s role, Denys believes Ukraine now offers quality education on par with international institutions.
“Once, everyone wanted to study abroad—at Harvard, Oxford. Does that bring more opportunities now? Mostly in terms of networks and community. But the knowledge base and faculty are the same. Today, what matters is your ability to adapt—not the school’s name,” he explains.
Why Do People Choose the UCU Business School?
Today, people come to the UCU Business School with more maturity and self-awareness. Opatska explains that the School looks primarily at a person’s experience and their willingness to reflect on it.
“We pay close attention to whether people are open to rethinking their experiences. Business education can’t be cheap—quality learning requires real resources,” she adds.
In recent years, the School has moved beyond traditional management frameworks. Ten or fifteen years ago, courses on history or philosophy for business leaders seemed unusual. Today, entrepreneurs increasingly seek meaning and broader context.
“We’ve always been a bit unconventional—raising topics before they became trendy. Yes, we talk about business models, but we don’t want them to be the goal. They’re just tools within a person’s broader worldview,” Sophia Opatska emphasizes.
The UCU Business School will continue to foster a thriving entrepreneurial environment in Ukraine—and its global influence. It’s a long game, one that will pay off over time.
“As the British say—how do you get such beautiful grass? By mowing and watering it for 200 years. We’ll do the same—perhaps in different ways—but we’ll keep at it,” she concludes.
