The Ukrainian government has launched its national startup fund, also called “Ukraine Startup Fund,” the first-ever state-backed investment fund in the country dedicated to startups.
The fund will amount to 390 million hryvnias (around $15 million at the current exchange rate), well above the 50 million hryvnias ($1.8 million) as initially announced.
Initially, the fund will offer grants of up to $75,000, reports Ukrainian tech blog AIN.UA. The most successful projects will then be able to receive loans from the fund.
AIN reports that the fund will not co-finance startups together with third-party investors.