REUTERS
Both countries' fintech associations have signed a memorandum.
Chairman of the Board of the Ukrainian Association of Fintech and Innovation Companies Rostyslav Dyuk says Ukrainian fintech startups will be able to enter the Japanese market provided there is relevant methodological and financial support.
Read alsoUkraine's performance noted in Global Innovation Index
"We, as an association, are developing an export strategy to support Ukrainian fintech startups. To this end, we are signing memoranda with different jurisdictions that provide for the exchange of experience and the entry of Ukrainian startups to the foreign market," he told UNIAN, commenting on the memorandum signed with the Fintech Association of Japan within the UAFIN.TECH 2019 forum on December 4.
According to Dyuk, the signed memorandum suggests for the promotion of Ukrainian startups on the Japanese market, the exchange of technologies and knowledge, and assistance in interacting with the government.
Moreover, young startups may receive investment from the Ukrainian Startup Fund, which is estimated at UAH 1 million (US$41,789) for the time being, and it will be expanded since there is a huge demand for such investment, Dyuk added.
As UNIAN reported earlier, Ukraine's Cabinet of Ministers in early December announced it had begun accepting applications from entrepreneurs for financing from the Ukrainian Startup Fund, which is expected to reach UAH 440 million (US$18.4 million). The fund will issue up to US$75,000 in grants per startup.