Three venture funds, Bionic Hill decide to create grant fund to support Ukrainian IT projects

The venture funds of Runa Capital, Almaz Capital, TA Venture and the Bionic Hill innovation park have decided to create a grant fund under the name of Global Technology Foundation (GTF) to support Ukrainian IT projects at the initial stage of development.

President of the newly established grant fund Oleksiy Anikin said this at a press conference at Interfax-Ukraine on Tuesday.

He reported that the amount of each grant is UAH 240,000, and they would be issued to the winning projects in tranches over six months. The fund plans to annually issue 10-12 grants.

The expert board of the fund, which includes well-known IT experts, will consider the tender projects. The commission will decide on issuing grants once per quarter.

One can file request for a grant and read the terms of the program on www.gtf.kiev.ua.

According to TA Venture Managing Director Viktoria Tigipko, the priority sectors in the fund's activity will be information technologies in state services, communications, education, health care, as well as software for financial and banking sectors, cloud computing, gaming applications.

TA Venture fund focuses on investment in innovative Internet companies at the stage of planting and early development in Ukraine, Russia and other CIS countries, as well as in Europe and the United States.