For VC and startups ecosystem development, as well as for creative economy development of Ukraine, there are plans to establish an international investment fund worth $200 million with at least 10 large international investors and also to finance more than 240 startups worth $13 million from the Ukrainian Startup Fund within the next 2 years.
After the end of the war, the establishment of the International investment fund will help attract foreign capital for stimulating the launch and development of product companies and will unite international investors in order to increase investment in Ukrainian product companies.
Regarding USF, it is the state-owned fund and one of the largest angel investors in Ukraine. USF was established on the initiative of the government of Ukraine in 2018. The mission of the fund is to promote the creation and development of technology startups in Ukraine at an early stage in order to increase their global competitiveness. USF provides financial support to startups in the early stages in the form of grants, as well as creates additional opportunities for startups to incubate, accelerate, and receive other types of support.
In addition, the Ministry of Digital Transformation intends to make Ukraine one of the top-5 countries in Europe and in the world with highest number of startups per 1 million of population. Ukraine now has 75 startups per 1 million people, whereas the global leader Israel has 945 and Finland, which ranks fifth, has 525. In order to increase this number and reach the Ministry’s goal, the following transformation area apart from VC and startups ecosystem development were defined: IT education, digital resistance in the form of military industrial parks, restoring IT companies operation to normal and Ukrainian IT brand awareness.
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