Even amid a full-scale war, Ukrainian startups continue to develop innovative products and compete on the global stage. The government’s goal is to support their growth and build an ecosystem attractive to foreign investors, according to Ukraine’s Minister of Digital Transformation, Mykhailo Fedorov.
Mykhailo Fedorov, together with Pierre Elbronn, France’s Special Envoy for Aid and Reconstruction in Ukraine, announced the launch of the Ukraine Phoenix Tech Fund, a private venture fund with a capital of €50 million. The fund is backed by the European Investment Bank and is designed to send a strong signal of trust in Ukraine’s potential on the global market.
The fund will provide early-stage Ukrainian tech companies with capital, strategic guidance, and access to an international network. This support aims to help startups compete globally and become leaders in innovation.
This initiative represents a significant step toward strengthening Ukraine’s startup ecosystem and integrating it into the international investment community.
“I am grateful to our French colleagues Pierre Elbron and Nicolas Dufourcq for their systematic support of Ukraine,” wrote Fedorov.
