Ukrainian Startup Fund

The Ukrainian Startup Fund (USF) is a state-owned legal entity established in 2018 with the primary mission of fostering the growth of Ukraine's burgeoning tech ecosystem. Based in Kyiv, USF provides crucial financial and non-financial support to early-stage startups, operating primarily through a grant-based model. Its core objective is to stimulate innovation, create new jobs, and attract further private investment into the Ukrainian startup landscape, particularly focusing on companies with high growth potential and innovative solutions. The fund plays a vital role in de-risking early-stage ventures, enabling them to develop their products and services and achieve initial market traction.

USF's financial support typically comes in the form of non-repayable grants, structured to address different stages of startup development. Historically, the fund offered pre-seed grants of up to $25,000 and seed grants of up to $50,000, designed to help startups cover initial development costs, conduct market research, and build minimum viable products. In response to evolving national priorities and challenges, USF has also launched specialized programs, such as the "Defense Tech" challenge, which provides grants of up to $35,000 to innovative projects contributing to national security. These structured grant programs ensure that funding is accessible to a broad spectrum of early-stage companies across various sectors.

Since its inception, the Ukrainian Startup Fund has demonstrated a significant impact on the national innovation landscape. By early 2023, the fund had supported over 300 startups, disbursing more than $8 million in grants. This substantial investment has helped numerous Ukrainian ventures to survive, grow, and attract follow-on funding from private investors, both domestic and international. Beyond financial aid, USF also offers non-financial support, including mentorship, educational programs, and networking opportunities, further strengthening the capabilities of its portfolio companies. The fund's continued operation and adaptation, even amidst challenging geopolitical circumstances, underscore its strategic importance in maintaining and developing Ukraine's technological resilience and economic future.