Ukrainian Startup Fund Is to Finance $125,000 to 5 Startups

Tuesday, August 31, 2021
Ukrainian Startup Fund Is to Finance $125,000 to 5 Startups

The supervisory board of the Ukrainian Startup Fund, based on the results of 29 Pitch Day, has identified 5 startups out of 12 that will receive grants totaling $125,000

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).

Following the meeting of the fund's council, it was decided to finance five pre-seed startups:

  • The Great Catalog (Kyiv) - a portal for designers, architects, and companies, where anyone can post, sell and download the 3D objects necessary for projects;
  • - Real Talk Sport (Kyiv) - CRM web system for the administration of martial arts competitions and the activities of sports federations;
  • Elai (Kyiv) - a web service that allows using artificial intelligence to quickly generate video presentations with a person in a frame from the text;
  • Magbulb (Lviv) - the world's first base adapter with a magnetic mount, which allows you to turn the dull and time-consuming process of replacing a light bulb into a second and more fun. An adapter for replacing bulbs, which consists of two parts (the first part is attached to the lamp with a magnet and the second to the socket). The advantages of Magbulb designers include simplicity, convenience, safety, and the ability to save money and time. The first budget for the creation of the innovation was collected on Kickstarter.
  • IDvizer (Kiev) - an AI-based identity verification mechanism (built-in security tool that is developed for an individual business model).

Each startup will receive $ 25 thousand. The main evaluation criteria were the following indicators: team, market, appropriateness of financing, idea, and development strategy.

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