ADAPTATION OF MODERN ANALYTICAL TOOLS FOR ASSESSING THE RISKS OF MILITARY STARTUPS

Stanislav Horbachenko; Olena Chepurna; Tetiana Kuklinova

doi:10.32782/bsnau.D2026.2.14

Stanislav Horbachenko National University «Odesa Law Academy» https://orcid.org/0000-0001-8442-9581
Olena Chepurna National University «Odesa Law Academy» https://orcid.org/0000-0002-1432-0799
Tetiana Kuklinova National University «Odesa Law Academy» https://orcid.org/0000-0002-1370-2883

DOI: https://doi.org/10.32782/bsnau.D2026.2.14

Keywords: efficiency analysis, military-tech startups, project management, mathematical modeling, risk assessment, business analytics, digitalization, digital product development, product management, investments

Abstract

This study examines the structural characteristics and risk formation mechanisms of military-tech startup ecosystems in Central and Eastern Europe based on quantitative data describing funding volumes and startup activity. The purpose of the research is to adapt modern analytical tools for assessing ecosystem risk under conditions of structural heterogeneity and non-linear development. The methodological approach combines normalization techniques, index-based modelling, and structural analysis. Two key dimensions of ecosystem development are considered: investment capacity and entrepreneurial intensity. On this basis, an integral development index and a structural imbalance indicator are constructed, allowing for a multidimensional assessment of ecosystem configurations rather than a single aggregated evaluation.The results demonstrate that similar levels of ecosystem development may correspond to fundamentally different internal structures. In particular, high levels of entrepreneurial activity are not always supported by proportional investment capacity, while substantial financial resources may be concentrated within a limited number of projects. This divergence indicates that risk emerges not only from insufficient resources but also from the misalignment between financial and innovation components. The analysis further reveals diminishing returns to funding, suggesting that increases in investment lead to less than proportional growth in the number of startups. The study contributes to the existing literature by introducing structural imbalance as a key analytical dimension and by integrating multiple analytical tools into a unified framework for ecosystem assessment. The proposed approach provides a more comprehensive understanding of military-tech startup ecosystems and offers a methodological basis for evaluating their efficiency, scalability, and resilience under conditions of uncertainty and rapid technological change.

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