Prime Minister of Ukraine Volodymyr Groysman together with Minister of Finance of Ukraine Oksana Markarova today, July 11, launched the work of the Ukrainian Startup Fund, which will become one of the key tools for supporting new industrial ideas in the segment of micro and small enterprises and individual entrepreneurs. The "initial" budget of the Fund makes up about UAH 400 million and in the beginning money will be provided for specific projects on a grant basis. Selection of projects will be carried out by a special competition commission, while the Fund operation will be coordinated by a Supervisory Board. Despite the fact that the Fund will command public financial resource, the Government and, in particular, the Ministry of Finance will not interfere in its work.
"My Government is working to create efficient business tools. We have certain achievements - we have 120 online services. By the end of the year, there will be almost 180 services. Recently we have launched an online registration of LLC. And today, we are launching the Startup Fund. It will be an efficient tool that has been used effectively in developed countries", said Volodymyr Groysman. "We need public mechanisms that will allow startups to be supported transparently and vigorously. I lay my hopes on the Fund. This is an instrument that will enable Ukraine to become strong."