The state is most interested in creating Ukrainian startups and is ready to invest in it, emphasized Prime Minister Denys Shmyhal during a meeting of the Cabinet of Ministers on June 10.

“The Ukrainian Startup Support Fund will buy back shares in newly established companies. The target audience of the program is start-up IT entrepreneurs who have an idea to create a technology startup and are looking for funding for the stage of creating a test model,” noted the Head of Government.

According to the Prime Minister, the money can only be spent on development, hiring, modeling and initial funding. The budget of the program for one year is UAH 10 billion. Priority will be given to export-oriented companies.

Denys Shmyhal accentuated that in 2021, the number of IT professionals in Ukraine had increased by a record 50,000 people, but many companies still had a shortage of staff. In recent years, IT professionals have become a real middle class in our country, so we want to increase focus on the sector and, in fact, help those who want to take up an IT job.

“Ukrainians who want to qualify as a junior developer or graphic designer, or other technical specialty will have a chance to receive a grant that can only be spent on training in IT courses. The state will provide funding for 60,000 Ukrainians, who will then be able to find work in this field,” stressed the Head of Government.

Denys Shmyhal highlighted that such grant programmes can be the real drivers of growth of the economy: “This is a motivation for people to stay and work in Ukraine. Work for our victory now, as well as for building a strong Ukraine in the future”.