12:12 06.05.2021

Ukrainian Startup Fund to finance startups to receive grants of $25,000, $50,000

3 min read
Ukrainian Startup Fund to finance startups to receive grants of $25,000, $50,000

The Supervisory Board of the Ukrainian Startup Fund (USF), based on the results of the 23rd and 24th Pitch Days, has identified another 13 startups that will receive grants totaling $425,000, the fund's press service said on Thursday.

Teams of 24 projects took part in the pitching. Following the meeting of the fund's supervisory board, it was decided to finance nine of them at the pre-seed stage (they will receive a grant of $25,000):

GeronCore - a living heart (Kyiv) - a new generation of cardio implants for children with congenital heart ailments;

AGRO BI (Kyiv) - Business intelligence platform for managing risks and increasing yields in agribusiness, providing information on plant growth and the presence of weeds based on high-precision aerial photography by drones and using its own neural networks;

Harmix (Kyiv) - an intelligent service that automatically selects music for video;

Erudito (Kharkiv) - a mobile application for teaching children school subjects in a playful manner;

Ademrius (Lviv) - a web platform for automating the work of medical institutions through the introduction of online appointments with a doctor and an electronic patient history;

Librarius (Kyiv) - a mobile application for the selection, purchase, rent and free reading of literature in electronic and audio formats;

Artera (Kyiv) - marker pen that can write or draw in any color;

Supplio (Kyiv) - integrates cosmetics suppliers with their customers, thus providing automated order management based on actual inventory;

AutoBI (Kyiv, Lviv) - a system for the automotive and related areas for setting up and optimizing fleet of vehicles management processes.

In addition, it was decided to finance four startups at the seed stage (they will receive a grant of $50,000):

Effa (Kyiv) - environmentally friendly disposable hygiene products made from 100% recyclable and renewable materials;

CareTech.Human (Kyiv) - an automated, non-invasive and affordable solution for daily health screening, early detection and monitoring of diabetes;

SmartReader (Rivne) - classes on speed reading and memory development for children 6-16 years old using a gamified online platform;

Fiway (Kharkiv) - Internet for transport, which works in any country in the world.

The press service recalled that during the pitching, projects are evaluated according to a number of criteria, namely: team, market, appropriateness of financing, idea and development strategy.

As reported, on average, the Ukrainian Startup Fund allocates funding for every 25th application.

Ukrainian Startup Fund is a state fund created at the initiative of the Cabinet of Ministers. Its purpose is to provide financing to technology companies in the early stages of development (pre-seed and seed).

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