Government Fund to finance seven Ukrainian startups

The Ukrainian Startup Fund (USF) says it has decided to allocate US$225,000 to seven Ukrainian startups following the 14th, 15th and 16th pitches (presentation of the project to potential investors).

That's according to the USF press service's statement published on its website on November 23.

In particular, eSalesPlatform (an e-commerce platform that helps retailers expand markets to international marketplaces such as Amazon and eBay) and HackenAI (a mobile app for personal cybersecurity) will receive US$50,000 each.

Read alsoUkrainian startups attract over US$500 mln in investmentsIn addition, a US$25,000 grant will be provided for each of the following startups: RE-leaf PAPER (production of kraft paper based on fibrous mass from fallen leaves); iceFood (frozen ready-to-eat healthy first and second courses, as well as desserts and drinks); AI Impulsar (software that helps monitor and analyze the condition of people with autism and dementia, as well as notifies people with epilepsy in advance of the likelihood of developing a crisis); Muscreators (online service for effective and large-scale promotion of artists); and Smart Way (mobile app for easy interaction with customs at the border).

Preceding event

In October 2020, one of Ukraine's major mobile operators, VF Ukraine (the Vodafone brand), and the UFS signed a memorandum of strategic cooperation, providing for cooperation in information exchange, participation in joint projects, events and meetings to support Ukrainian startups.

Memo

The Ukrainian Startup Fund is a state foundation established on the initiative of the Cabinet of Ministers.

UFS's mission is to support innovative projects and help Ukrainian entrepreneurs create successful global businesses.

The foundation provides grants to companies and individual entrepreneurs in early stages of their development (pre-seed and seed).