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$18 million fund to invest in Ukrainian startups

Ukraine launches $18 million fund to invest in local startups

Ukraine’s Cabinet of Ministers announced that The Ukrainian Startup Fund (USF) has begun accepting grant applications from local tech startups.

The state-owned fund will provide selected startups with grants ranging from $25,000 to $75,000 to boost development. The fund’s total budget is $18 million.

Every startup has to have an element of tech and can be on the periphery of other industries and IT, including adtech, fintech, internet of things and big data.

The startups also have to be registered in Ukraine with at least 50% Ukrainian ownership.

A selection panel of independent investment experts will choose grant recipients and determine the size of each grant, according to the fund’s website.

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