European Innovation Council Launched €20 million support program for Ukrainian start-ups

 

The European Commission has launched an ambitious €20 million action to support the Ukrainian innovation community.

• This action is made possible through a targeted amendment of the 2022 European Innovation Council (EIC) work programme. The new initiative will support at least 200 Ukrainian deep tech start-ups with up to €60,000.
• In addition, the EIC will offer non-financial support, such as business advisory services and matchmaking. This action will enhance the capacity of Ukrainian innovators to interact with the European innovation ecosystem, enter new markets and benefit from the European financing instruments.
• To ensure greater impact, the €20 million support will be disbursed through a competitive call for proposals for a pan-European network of start-up associations, collaborating with at least one Ukrainian innovation stakeholder and seeking synergies with relevant EU initiatives, such as the Enterprise Europe Network (EEN).
• With this call, opening on 23 June, the European Innovation Council (EIC) aspires to ensure the business continuity of the Ukrainian tech companies and foster their growth. The action can help to prepare Ukrainian start-ups in successfully competing in EIC funding opportunities. The EIC can fund start-ups up to €17.5 million in a combination of grants and equity investment and can crowd-in further private investments up to three times the amount invested by public funds.