EU sets up €20 million support for Ukrainian start-ups through European Innovation Council
Daily News 09 / 06 / 2022
Source: European Commission Spokesperson's Service
The European Commission has launched an ambitious €20 million action to support the Ukrainian innovation community. 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 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 the European financing instruments. Ursula von der Leyen, President of the European Commission, said: While fighting Russian military aggression it is vital for Ukraine to look forward. The country has a vivid start-up scene and great potential for innovative businesses. It is very important to preserve this economic capacity and enable Ukrainian tech innovators to grow and integrate further into the European innovation ecosystem. We want them to expand their operations to the European markets and beyond. The initiative was presented today at a press point with Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education and Youth, Ukrainian Deputy Prime Minister for European Integration Olha Stefanishyna, and EIC Board Member Taavi Madiberk (see the recording here). Before the Russian aggression, Ukraine had a fast growing tech ecosystem with over 1600 start-ups. The new action aims to safeguard this progress, reinforce links to European ecosystems, and ensure Ukrainian start-ups are well placed to help rebuild the economy after the war. In addition, following Ukraine’s ratification, the agreement associating Ukraine to the Horizon Europe and Euratom Research and Training Programmes entered into force today. The agreement was signed on 12 October 2021 on the occasion of the EU-Ukraine Summit. Now European and Ukrainian researchers and innovators, universities, businesses, including small and medium-sized ones (SMEs), have all the opportunities to work together on equal terms to reach joint goals and address critical challenges. This support is complementary to the ongoing ‘European Research Area for Ukraine' (ERA4Ukraine), Horizon4Ukraine and ERC for Ukraine initiatives, as well as the dedicated fellowship scheme of €25 million under the Marie Skłodowska Curie Actions (MSCA) for displaced researchers of Ukraine. More information is available in this press release.