European Innovation Council allocates 20 million euros to support Ukrainian startups
It is expected that 200 Ukrainian high-tech startups will receive up to 60,000 euros each
The European Innovation Council (EIC) has announced a project named Seeds of Bravery and a consortium of more than 20 partners as winners of a 20-million-euro support programme for Ukrainian startups, tech entrepreneurs and the ecosystem.
This is stated in a press release of the European Innovation Council.
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The project aims to provide much-needed support to Ukrainian startups, helping them grow and integrate into the European innovation ecosystem, so they can become key economic drivers in the recovery of Ukraine's economy.
"The initiative is also aimed at better preparing Ukrainian startups for participation in competitions for funding from the European Investment Fund and other EU funds. Special attention is given to supporting innovative solutions for Ukraine's recovery," reports the EIC.
Funds will be channelled through a pan-European network of startup associations, entrepreneurship support centres, incubators, and accelerators. The network, selected through competitive selection, is coordinated by the FundingBox accelerator in Warsaw, Poland. The consortium consists of 22 organisations and startup associations, including 6 Ukrainian partners, as well as partners from 13 other countries.
Background. Mind previously reported that Ukrainian startup Instock had raised $4.6 million in seed round investments.
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