EU sets up €20 million support for Ukrainian start-ups

The European Commission has launched an €20 million action to support the Ukrainian innovation community through the European Innovation Council (EIC).

The new initiative will support at least 200 Ukrainian deep tech start-ups with up to €60,000 each. In addition, the EIC will offer non-financial support, such as business advisory services and matchmaking. This will enhance the capacity of Ukrainian innovators to interact with the European innovation ecosystem, enter new markets and benefit from European financing instruments.

“Prior to Russia’s invasion, Ukraine had a vibrant tech start-up scene, with over 1,600 start-ups. This new action aims to safeguard this progress, reinforce links to the European innovation ecosystem, and ensure Ukrainian start-ups are well placed to become a critical driver for rebuilding the Ukrainian economy,” said Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth.

The €20 million support will be disbursed through a competitive call for proposals for a pan-European network of start-up associations, supporting Ukrainian innovation stakeholders. The call will open on 23 June.