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EU launches €20 million program to fund Ukrainian startups

by Abbey Fenbert December 21, 2023 3:22 AM 2 min read
Digital Transformation Minister Mykhailo Fedorov at the Diia Summit in Kyiv, Dec. 19, 2023. (Mykhailo Fedorov / X)
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The European Innovation Council's (EIC) Seeds of Bravery program will distribute 20 million euros ($21.9 million) to support Ukrainian tech startups, the Digital Transformation Ministry reported Dec. 20.

Under the current call, Ukrainian tech startups can apply for grants of €10,000 to put towards consultancy services that will help them upgrade their business model or growth strategy.

Additionally, Seeds of Bravery will launch five programs over the next two years aimed at integrating Ukrainian tech initiatives into the EU innovation ecosystem. Grants through these programs will range from €10,000 to €50,000.  

About 200 Ukrainian deep-tech ventures will each receive €60,000 developmental grants. These companies will also receive non-financial support, such as advisory services and business mentoring.

There will also be €25k grants available through the program's Entrepreneurship, Deep Tech Incubation, and Rebuilding Ukraine initiatives.

At least 20% of the startups participating in the program must be founded or led by women.

"In the past years, the Ukrainian start-up scene has been growing steadily and increasing its contribution to the Ukrainian economic growth," the EIC announcement reads.

"This action should strengthen the Ukrainian tech innovators and ecosystems, supporting innovative solutions for rebuilding the Ukrainian economy and infrastructure after the war."

Reconstruction in Kyiv suburb sabotaged by local officials, discouraging foreign investors
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