The European Innovation Council will provide 20 million euros for the development of innovations in Ukraine. The Seeds of Bravery project will run for two years, with the first winners receiving funding as early as 2023.
The grant fund for Ukrainian start-ups and innovative companies will amount to 12 million euros. In addition to grant funding, activities are envisaged to attract additional investments, promote Ukrainian projects, train entrepreneurs, enter international markets, and integrate the Ukrainian innovation ecosystem into the European network.
“Innovation development is one of our priorities. This is the path to the development of the digital economy, the growth of GDP and the strengthening of our army. Under the Seeds of Bravery program, it is planned to help about 200 Ukrainian startups. This is an opportunity for the development of our innovation community. We believe in the ability of our entrepreneurs to bring in revolutionary ideas. Therefore, we are grateful to the European Innovation Council, which also sees this potential and gives a powerful impetus to the development of innovations in Ukraine,” said Mykhailo Fedorov, Vice Prime Minister of Ukraine for Innovation, Development of Education, Science and Technology, Minister of Digital Transformation of Ukraine.
The Seeds of Bravery initiative pays special attention to innovative solutions aimed at restoring Ukraine. In particular, start-ups that provide innovative services or engage in innovative entrepreneurship, as well as projects aimed at the commercialization of scientific research, can apply for grants. Each company will be able to raise up to 60,000 euros in grant funding.
One of the key participants in the consortium, which unites 22 participants, is the Ukrainian Startup Fund. The experienced European agency FundingBox became the coordinator. Luxinnovation, Plug and Play, Erasmus Center for Entrepreneurship and other well-known European stakeholders have also joined the consortium.
Currently, a grant agreement is being prepared and all necessary documents are being approved. So soon startups will be able to apply for grants.
The support program complements the ongoing European Research Area for Ukraine (ERA4Ukraine), Horizon4Ukraine and ERC Ukraine initiatives, as well as a special €25 million scholarship scheme under Marie Skłodowska Curie Actions (MSCA) for refugee researchers from Ukraine.