The European Commission (EC) has announced an increase in support for “Ukrainian innovators in the high-tech sector.”
“The European Commission has allocated €20 million to fund 41 cutting-edge Ukrainian startups and small and medium-sized enterprises through the European Innovation Council (EIC) competition to help them turn innovative ideas into real solutions,” according to an EC communiqué published on Wednesday.
“This funding will help integrate Ukrainian startups into the European innovation ecosystem, strengthening Ukraine’s long-term economic ties with the EU,” noted EC Commissioner for Startups, Research, and Innovation Katerina Zakharieva.
The statement notes that each company will receive between EUR300,000 and EUR500,000, as well as the opportunity for accelerated access to the EIC’s flagship funding program—the EIC Accelerator—which offers larger grants and equity investments through the EIC Fund.
