EU to allocate €20M to support Ukrainian startups
The initiative will support at least 200 Ukrainian technology startups with up to €60,000 each, the European Commission reports.
- The EU will also offer non-financial support, such as business advisory services and partner search.
- The European Commission says that this will enhance the ability of Ukrainian companies to interact with the European innovation ecosystem, enter new markets, and benefit from European funding instruments.
- The €20 million support will be disbursed through a competitive call for proposals for a pan-European network of startup associations.
The campaign will also prepare Ukrainian startups for future funding from the EIC (European Innovation Council). The EIC can finance startups up to €17.5 million in grants and equity investments.
Besides, the agreement on Ukraine joining the research and training programs of Horizon Europe and Euratom entered into force today. The agreement was signed back on October 12, 2021 on the occasion of the Ukraine-EU Summit.
Ukraine will participate in the Horizon Europe and Euratom programs without having to contribute financially for years 2021 and 2022. The waiver of the contribution was estimated at about €20 million.