EU to provide EUR 20M to support Ukrainian startups

The European Innovation Council will allocate EUR 20 million to support Ukrainian deep tech startups.

The press service of the Ministry of Digital Transformation of Ukraine said this in a post on Telegram, Ukrinform reports.

"As part of the Seeds of Bravery program, EUR 20 million will be allocated from the European Innovation Council to support the Ukrainian technological ecosystem," the post said.

The ministry noted that thanks to the project, about 200 Ukrainian startups engaged in deep tech development could receive EUR 12 million in grant funding. The program provides five types of support with the possibility of attracting up to EUR 60,000 to one startup: Innovation Services (up to EUR 10,000), Entrepreneurship (up to EUR 25,000), Deep Tech Incubation (up to EUR 25,000), Rebuilding Ukraine (up to EUR 25,000), and Deep Tech Scale-Up (up to EUR 50,000).

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

In addition to receiving funding, program participants will receive training on project promotion and entry into international markets, as well as integration of the Ukrainian innovation ecosystem into the European network.