The European Innovation Council (EIC) last week announced the €20m fund dedicated solely to helping Ukraine’s start-up sector become more closely aligned with the rest of Europe’s.
Under the new fund, grants of up to €60,000 and non-financial support will be made available. The first call for applications will launch on 23 June and the European Commission hopes that applicants will be emboldened to then apply for more funding from the EIC.
"Ukraine has a vibrant deep-tech community and strong potential for creating breakthrough innovations," said EU research chief Mariya Gabriel, who also added that the sector will play an essential role in rebuilding the country’s destroyed infrastructure.
According to the Ukrainian government, more than 70 per cent of start-ups are still going about their business, despite Russia’s brutal invasion. That is why this injection of cash will be crucial for many start-ups that are only just finding their feet.
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