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Ukrainian startups on the rise: millions for innovation and growth!
Ukrainian startups receive EU funding of up to EUR 30 million to strengthen innovative technologies and overcome financial hurdles.
Ukrainian startups on the rise: millions for innovation and growth!
The Ukrainian startup scene is currently experiencing a significant upswing, supported by significant investments and numerous funding programs. How it-boltwise.de reports, the EU Innovation Council (EIC) provides financial resources to promote innovative technologies in the region. The funding from the EIC is part of the overarching EU program “Horizon Europe”, which aims to identify, develop and broadly disseminate innovative solutions.
Startups and companies have the opportunity to apply for funding ranging from EUR 500,000 to EUR 30 million, depending on the specific program they choose. The EIC's funding instruments include the EIC Pathfinder, which supports the early phases of research, and the EIC Accelerator, which bridges gaps between research and market entry. This targeted support makes it possible to develop market-creating innovations that are intended to promote growth and employment.
Support for the food industry and early-stage startups
Another important aspect is the support of the EIT food network, which promotes innovation for sustainable food systems. This is done through annual grants of up to EUR 1 million, which can be made available for a maximum of two years. Additionally, the Ukrainian Startup Fund and the Western NIS Enterprise Fund (WNISEF) are offering a total of $2.5 million for early-stage startups, particularly in the key areas of blockchain, cybersecurity, energy, environment, industry and artificial intelligence.
| Funding opportunities | Funding amount |
|---|---|
| EIC grants | EUR 500,000 – EUR 30 million |
| EIT food network grants | up to EUR 1 million annually |
| Ukraine Startup Fund/WNISEF | $2.5 million |
| Support for startups | $25,000 – $50,000 |
These initiatives are not only a ray of hope for the Ukrainian startup scene, which has struggled with capital shortages and market access difficulties in the past, but they also strengthen the country's innovative strength. Experts are optimistic that international support will sustainably promote the development of startups. The focus on technologies such as blockchain and artificial intelligence highlights the potential of the Ukrainian tech scene, which is now poised to play a significant role in the global technology market.
The EIC and its programs play a central role in overcoming the hurdles faced by many Ukrainian startups. With such support, an economic recovery is on the horizon that could benefit not only Ukraine, but also the entire technological landscape of Europe. The combination of financial support and access to experts and mentors could make all the difference and bring many innovative ideas to market more quickly.