Apart from many other support measures taken by the EU to support Ukraine, the European Commission is also helping local startups survive and thrive. Technology, innovation and start-ups in Ukraine can help protect the local economy while definitely providing an important boost once the war is over. We at Strata also believe that protecting and supporting Ukraine start-ups will be vital for the country’s future well-being and economic recovery.
In May 2023, the European Commission announced their commitment to increase its support of the Ukrainian deep tech community. Through the initiative ‘Seeds of Bravery’ different partners in a pan-European network will allocate €20 million to boost Ukrainian innovation.
The budget will be provided through a pan-European network of start-up associations, enterprise support centres, incubators and accelerators. The network, coordinated by FundingBox Accelerator in Warsaw, Poland, encompasses 22 organisations and start-up associations, including 6 Ukrainian partners and 13 from other countries.
The main objective of this initiative is to help accelerate the economic recovery of the country by providing support to Ukrainian start-ups. Through this action, the innovation community is expected to grow and integrate within the European innovation ecosystem. The project will run for two years, and the first start-ups will receive the funding this very year, in 2023.
At least 200 Ukrainian deep tech start-ups will be supported with up to €60 000 each to boost and develop their innovation and business activities. Apart from financial support, start-ups will also receive business advisory services, coaching, mentoring and matchmaking.
Thanks to this initiative, the Ukrainian innovation community will be able to identify European market needs and comply with the EU regulatory framework, as well as enter new markets and interconnect with key innovation stakeholders and networks. It is a measure to help Ukrainian start-ups compete for future EIC and other EU funding opportunities, but it also intends to contribute to rebuild Ukraine.
