Breaking news 2020-02-24 02:00

8 Ukrainian startups receive almost Hr 9 billion from state

Eight Ukrainian startups, which were selected by the Ukrainian Startup Fund during a competition, received around Hr 9 billion as seed and pre-seed grants from the state

An Interfax-Ukraine correspondent has reported that the award ceremony was held with the participation of Ukrainian President Volodymyr Zelensky and Prime Minister Oleksiy Honcharuk on Feb. 21.

Seed grants of $50,000 (Hr 1.25 million), in particular, were received by AeroDrone startup (complex solutions based on unmanned aircraft); GeoDesign info (online analytical center); BIOC (nanopolymerization technology for bioplastics); FieldBI (analytical and expert system for market stakeholders); Pravoman (an automated assistant on domestic legal issues to help the population); and Framiore (a clothing brand with its own R&D center for the development of innovative products and technologies).

In turn, pre-seed grants of $25,000 (Hr 62,000) were received by Pytag (a trading and analytical platform for grain trade) and BioBin (a mobile application for better environmental impact).

“For us, the Startup Fund is a priority project that we, as the government, do first. Therefore, we started early as much as we could organize it. The first competition is always a challenge and this first competition showed that the state can also set standards that build trust,” Honcharuk said during the ceremony.

According to the head of the Ukrainian Startup Fund Pavlo Kartashev, the competition was unbiased: all winners were selected in accordance with a transparent procedure and by independent experts.

Kyiv Post