The European Commission (EC) will support Ukrainian start-ups with 20 million euros, informs the Press Office of the EC Representation in Latvia.
By amending the European Innovation Council’s (EIP) work program for 2022, the initiative will support at least 200 high-tech start-ups in Ukraine, with up to € 60,000 each.
In addition, the EIP will offer non-financial support such as business advisory services and partner placement. This will improve the ability of Ukrainian innovators to interact with the European innovation ecosystem, enter new markets and benefit from European funding instruments.
The € 20 million grant will be disbursed through a call for proposals for a pan-European network of start-up associations in support of Ukraine’s innovation stakeholders.
Synergies will be ensured with relevant European Union (EU) initiatives, such as the European Business Support Network. With this call, launched on 23 June, the EIP seeks to ensure the continuity and growth of Ukrainian technology companies.
This can help prepare Ukrainian start-ups for competition for EIP funding opportunities. The EIP can finance start-ups in the form of grants and equity investments of up to € 17.5 million, as well as attracting additional private investment, even tripling the amount invested from public funds.
In addition, following Ukraine’s ratification, an agreement entering into force for Ukraine in the Horizon Europe and Euratom research and training programs entered into force today. The agreement was signed on October 12, 2021 at the EU-Ukraine summit.
European and Ukrainian researchers and innovators, universities and businesses, including small and medium-sized enterprises (SMEs), now have every opportunity to work together on an equal footing to achieve common goals and address key challenges.
Given Russia’s current aggressive war against Ukraine and the EU’s commitment to offer tangible assistance to Ukraine’s research and innovation community, Ukraine will participate in Horizon Europe and Euratom without financial contributions in 2021 and 2022. The uncalled investment was estimated at around € 20 million.
This support complements the current “European Research Area for Ukraine”, “Horizon for Ukraine” and “European Research Council for Ukraine” initiatives, as well as a special scholarship scheme for Ukrainian researchers transferred with € 25 million.
In February 2022, the EC adopted the EIP’s annual work program, which opens up funding opportunities of more than € 1.7 billion in 2022. Launched in March 2021 as a major innovation in Horizon Europe, the EIP has a total budget of more than € 10 billion for the period 2021-2027.
In order to mobilize all possible resources and provide support that can help Ukraine, the EIP work program has been modified to launch an additional call for proposals for Ukraine’s high-tech community, which has great potential for revolutionary innovation.
The number of start-ups in Ukraine has grown steadily in recent years and their contribution to Ukraine’s economic growth has increased. It should strengthen Ukraine’s technological ecosystems and support innovative solutions for Ukraine’s post-war economic and infrastructure recovery.
–
