14:23 11.07.2019

Ukrainian startups fund totals UAH 400 mln, applications could be submitted from Sept

1 min read
Ukrainian startups fund totals UAH 400 mln, applications could be submitted from Sept

The budget of the Ukrainian Startups Fund is UAH 400 million, and it plans to issue grants in the amount of $25,000-75,000 at early stages, Ukrainian Prime Minister Volodymyr Groysman has said.

"Today it is [UAH] 400 million of real money that will be used to support startups from $25,000 to $75,000 for the period of 24 months of implementation. The start this year, I think, should lead to a multiple increase in funding of this fund to UAH 4 billion," he said on Thursday, presenting the fund in Kyiv.

The fund's supervisory board includes Lenna Koszarny (Horizon Capital), Lesia Sevruk (ECG), Viktoriya Tigipko (TA Ventures), Charles K. Whitehead (Cornell Tech), Deputy Finance Minister Yuriy Heletei, Oleksandr Ryzhenko (the State Agency for E-Governance of Ukraine), and Dmytro Shymkiv (Darnitsa), Finance Minister Oksana Markarova said.

"Today, we appoint the supervisory board and it [the fund] "sails" from the hands of the Finance Ministry to the supervisory board," Markarova said.

According to her, then the supervisory board will announce a competition, evaluate projects and select winners, with which grant financing agreements will be signed.

"Our task now is to find co-financing. We are actively communicating with donors," Markarova said.

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