Brave1 participants already receive $8M in grants from the state – Fedorov
The relevant statement was made by Ukrainian Deputy Prime Minister for Innovation, Education, Science and Technology Development - Digital Transformation Minister Mykhailo Fedorov during a nationwide telethon, an Ukrinform correspondent reports.
“About 3,000 companies have already been registered with the Brave1 platform. 99% of them did not exist before 2022. We have already transferred USD 8 million in grants and are providing expert assistance from the Defense Ministry, the Strategic Industries Ministry, and the General Staff for them to focus on their development,” Fedorov told.
Additionally, the Brave1 participants are actively attracting investments from international donors. According to Fedorov, the total amount of such investments may reach USD 50 million by the end of 2024 and go even higher in 2025.
“At the end of this year, a total of USD 50 million worth of startup investments will likely be made. Next year, I think, this figure will be growing. This is indicated by the outcomes of the investment forum, Defense Tech Valley, which was attended by a tremendous number of investors from different countries. I know that several companies have already signed investment agreements,” Fedorov noted.
A reminder that all conditions had been created for defense tech companies in Ukraine to have a margin of 25%, which would allow the market to develop rapidly.
