New Business Grant Program Launched in Ukraine with €480,000 Fund

by Roman Cheplyk
Friday, June 21, 2024
New Business Grant Program Launched in Ukraine with €480,000 Fund

A new business program has been launched in Ukraine under the EU4Business initiative, offering a grant fund of €480,000 aimed at supporting small and medium-sized enterprises (SMEs) with export and innovation potential

This initiative is financed by the European Union and the German government and is implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH in cooperation with the Civil Union "Global Compact Network in Ukraine."

Program Details and Objectives

The "EU4Business: Recovery, Competitiveness, and Internationalization of SMEs" program provides 12 grants, each worth €40,000. The primary goals of the program are:

  • Supporting economic stability and recovery in Ukraine.
  • Fostering growth and development of Ukrainian SMEs.
  • Promoting innovation and enhancing export capabilities.

Eligibility and Priority Sectors

The program is open to SMEs operating in various sectors, including:

  • Processing Industry: Food, light industry, mechanical engineering, construction, furniture manufacturing, etc.
  • Creative Industry: Fashion, design, etc.
  • Other Sectors: Enterprises with export and innovation potential that do not fall into the aforementioned categories.

Priority will be given to businesses that adhere to principles of circular economy, green economy, eco-friendly production, energy efficiency, and renewable energy.

Application Process

Interested businesses can apply for the grants until June 25, 2024. The application process is designed to identify and support enterprises that have the potential to significantly contribute to Ukraine's economic

recovery and stability.


Certain businesses are excluded from participating in the program, including those involved in:

  • Production of weapons, military ammunition, and dual-use products
  • Oil refining products
  • Alcoholic beverages, particularly those produced by fermentation (beer and wines), distilled alcoholic beverages, and tobacco products
  • Pharmaceutical products
  • Gambling
  • Agriculture (farms)
  • IT sector

EU4Business Initiative

EU4Business is a European Union initiative that aims to support small and medium-sized enterprises in the Eastern Partnership countries, helping them to grow, innovate, and expand into international markets.


The launch of the €480,000 grant fund under the EU4Business program represents a significant opportunity for Ukrainian SMEs to access financial and consulting support to enhance their competitiveness and innovation potential. By targeting sectors with high export and innovation capabilities and prioritizing sustainable business practices, the program aims to drive economic growth and stability in Ukraine during challenging times. Interested businesses should apply by June 25, 2024, to take advantage of this valuable support.

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