Ukrainians can get 25 thousand euros for business: who can participate in the grant program
A grant program with funding of 750,000 dollars has been launched for Ukrainian entrepreneurs. In total, the funds are intended for 30 companies. Learn more about what criteria a company must meet to receive funds
A grant program has been launched for Ukrainians, under which entrepreneurs can receive 25 thousand euros for business development. We will tell you how to use it and where to apply below.
Ukrainian entrepreneurs will be able to receive funds from the EU4Business program of the European Union and the German government. The goal of the grant program is to help small and medium-sized businesses scale up.
It is worth noting that the total budget for entrepreneurs is 750 thousand euros, so 30 companies will be able to receive the promised amount of 25 thousand euros.
Who can receive a grant?
The program rules, according to Mykhailo Fedorov, Minister of Digital Transformation of Ukraine, state that only those companies that meet the criteria and have a clear plan for using the grant will be able to receive funds.
Before applying, make sure that your company meets the following rules
- registered as a limited liability company - LLC;
- is not located and does not conduct its business activities in the temporarily occupied territory of Ukraine;
- the company is a small and medium-sized enterprise (from 11 to 100 employees, annual income from any activity does not exceed the equivalent of EUR 10 million as of the date of application)
- at least 51% of the company is owned by individuals (citizens of Ukraine) and/or legal entities (participants and beneficiaries of which are citizens of Ukraine);
- the company is not in the process of liquidation or bankruptcy, is not bankrupt and has no tax debts;
- the company has an innovative component in its products/services and/or the potential for rapid expansion and export;
- the company does not operate and has no subsidiaries in the russian federation and/or belarus and other countries included in the sanctions lists;
- the company is focused on the areas of economic activity defined by the large grants program (available here);
- meets other criteria set out in the Grant Program Regulations.
What is the procedure of the grant program?
From the very beginning, the applicant must familiarize himself with the details and criteria of the competition. You can do this by following the link.
Then, the applicant should submit the application form(s) by August 25, 2023 on the web portal of the Ukrainian Startup Fund at the link.
Third step: The Ukrainian Startup Fund will carry out a preliminary assessment (compliance) of up to 60 applications for compliance with the requirements and completeness of information. After that, independent experts engaged by the Ukrainian Startup Fund will evaluate the applications and interview the potential winners included in the list of the top 60 pre-selected finalists (until September 8, 2023).
The next step will be negotiations with the potential winner. Subsequently, the Foundation will work to confirm the information provided by the applicants and sign grant agreements.
Grant agreements are expected to be signed with the winners by September 22, 2023. Participants will be notified of the results of the competition by email.
To apply for a grant, please visit https://portal.usf.com.ua/.
We remind you! The USAID program has launched a new grant program for Ukrainian enterprises with funding of $2 million. Read our article to learn how to apply and receive funds.
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