€20 Mln for the Ukrainian’s Startup Development

by Olha Povaliaieva
Friday, June 10, 2022
€20 Mln for the Ukrainian’s Startup Development

The European Union has provided an investment package to support Ukrainian startups

Against the background of Russia's invasion of Ukraine, there was a need to protect and strengthen the startup flow of Ukraine. In response to this challenge, the EU has set up a protection program worth a total of €20 million.

"The European Commission has launched an ambitious program of €20 million to support the Ukrainian innovation community. Thanks to targeted additions to the European Innovation Council's program, this new initiative will support at least 200 Ukrainian high-tech startups worth up to €60ю000 each," according to the European Commission's website.

To facilitate the accession of Ukrainian businessmen to the European innovation space and integration into new markets, the EU Council will provide representatives of Ukrainian startups with the opportunity to receive advice from European experts.

"Continuing the fight against Russian military aggression, it is important for Ukraine to look to the future. The country has a living innovation environment and huge potential for innovative business. It is essential to maintain this economic capacity, to allow the Ukrainian innovation sector to continue to grow and continue to integrate into the European innovation ecosystem," Ursula von der Leyen.

The prospect of an active innovation environment in Ukraine was not killed even by the war. Domestic startups have learned to work in military conditions and make a profit. Accordingly, diversified startups are one of the drivers of Ukraine's economy.

We remind you that since 2015 it has been a member of the European association for research and innovation Horizon 2020.

You will be interested