Insights from Seeds of Bravery non-financial support

On June 12, 2024, the Seeds of Bravery project hosted Info Day 8, an event dedicated to equipping Ukrainian startups with the tools and support necessary for raising capital and scaling their ventures. The event covered a range of topics, including funding opportunities, the role of business angels, and various support programs within the Seeds of Bravery project. The event also emphasised entrepreneurship education, professional development, and specialised training for women entrepreneurs.

Key Speakers

The event featured a variety of speakers who are leaders in the startup ecosystem:

• Yana Paladiieva — Head of Projects and Programs at the Ukrainian Startup Fund.
• Maria Karpilowska — Project Manager at FundingBox.
• Sviatoslav Sviatnenko — Co-founder of Innov8 and founder of Mission Possible.
• Kateryna Degtyar — Director of the Vacuum Deep Tech Acceleration program.
• Laura Fargas — European Project Manager and Coordinator at EIT Health.
• Kasper Suomalainen — Startup Advisor at Aalto Innovation Services.
• Andrii Zaikin — CEO at YEP.
• Michał Olszewski — Acceleration Manager at FundingBox.

During the event, the importance of funding from the European Commission and the European Innovation Council was highlighted. The discussion extended beyond grant funding, emphasising the wide range of non-financial services available. These include training in writing applications for European grants, preparing pitches for investors, and support in securing additional funding.

Sviatoslav Sviatnenko highlighted the significant support provided by the European Commission, European Union, and European Innovation Council to startups, particularly through the Seeds of Bravery initiative. This program not only offers non-equity grants but also a range of non-financial support services. The Funding Lab, part of Seeds of Bravery, aims to enhance opportunities for Ukrainian deep tech startups by providing hands-on support, from proposal writing to investor engagement. Sviatoslav emphasised the importance of accessing additional funding and strategic guidance to help these startups succeed in securing venture capital and participating in larger European programs like Horizon Europe and the European Innovation Council.

Declan Fox reviewed the Literacy Programme for Investors, a key initiative designed to re-engage business angels with Ukrainian startups. The program focuses on providing investors with the necessary knowledge, tools, and support to make informed investments in startups. Fox emphasised the importance of revitalising the angel investment community in Ukraine, aiming to attract both new and experienced investors to actively participate in funding early-stage companies.

The program includes a series of workshops and educational sessions, running in two phases from late 2024 to early 2025. These sessions will cover a range of topics, including the basics of angel investing, the mechanics of forming and managing investment syndicates, and the due diligence process. The goal is to create a structured, professional environment where investors can collaborate, share experiences, and build confidence in their investment decisions.

Fox also highlighted the importance of establishing a business angel investment club in Ukraine, which he believes is currently lacking. This club would provide a platform for investors to network, exchange ideas, and co-invest in promising startups. By doing so, the program aims to increase the flow of capital to Ukrainian startups, helping them grow and prepare for subsequent funding rounds, such as Series A or Series B.

Oksana Krykun discussed the Deep tech Booster program, a digital and deep tech acceleration initiative led by Innovate. The program targets startups at Technology Readiness Levels (TRL) 7 to 9, aiming to accelerate their growth in both Ukrainian and international markets. Over 12 weeks, participants receive tailored support, including individual and group mentorship from experts in areas like business development and hypothesis validation. The program also features inspirational sessions with experienced entrepreneurs, networking events, and community activities. The focus is on industries such as health tech, AI, quantum tech, and agri-tech, with multiple cohorts planned throughout the year. Oksana encouraged startups to join the program, highlighting the comprehensive support and opportunities for growth and expansion provided by the initiative.

Kateryna Degtyar spoke about the Seeds of Bravery program, a startup support initiative aimed at accelerating the growth of Ukrainian startups in local and international markets. The program offers different directions, including Creatability Ukraine and Scale Up and Exploration, with the main components being Digital and Deep Tech Booster and Deep Tech Explorator. For 6-8 months, of which 12 weeks is the intensive part, participants receive individualised support, including mentoring and workshops with experts in business development and hypothesis validation.

The program focuses on industries such as life sciences, space technology, AI, quantum technology, fintech, and includes the creation of individual development plans, training in Lean Canvas, and open innovation sessions. Particular attention is paid to establishing connections between startups and the corporate world, as well as integration into the European technology ecosystem.

Seeds of Bravery is conducted primarily online and includes various stages with corresponding milestones. The program brings together more than 20 partner initiatives, of which one third are Ukrainian and two thirds are European. Kateryna emphasised that the program is open to Ukrainian founders, even if they established a legal entity in Europe after the war began. She encouraged startups to apply, emphasising the comprehensive support and growth opportunities provided by the initiative.

Olena Skyrta presented the “Science to Business” program, aimed at helping scientists commercialise their research and ideas. The program will support 200 scientists, offering online lectures, workshops, and practical sessions focused on turning scientific concepts into viable business projects. It includes training on team building, prototyping, customer validation, business modelling, and pitching. The program will culminate in a final pitch event where scientists can connect with potential business partners for future collaboration. The first cohort begins in mid-July, with applications opening soon.

Kasper Suomalainen introduced the “Summer School on Entrepreneurship,” a two-week intensive program aimed at individuals or teams with an idea, but without an established company. The program provides foundational knowledge to help participants develop their ideas into viable startups. It includes workshops, mentoring, and panel discussions with entrepreneurs and investors, covering topics like Lean Canvas, market research, team dynamics, and fundraising. The first batch of the program will run in late August, with applications opening soon. The program is designed to equip participants with the tools needed to turn their ideas into successful businesses.

Michał Olszewski introduced the Female Entrepreneurship and Leadership Program, designed for Ukrainian female founders and C-level managers from companies participating in the Seeds of Bravery initiative. The program addresses unique challenges faced by women in the startup ecosystem, such as access to funding, gender biases, and balancing social responsibility with profitability. Over 12 weeks, 100 participants will receive tailored mentorship from successful entrepreneurs across Europe and Ukraine, with a mix of one-on-one and group sessions. The first batch begins in July, aiming to better equip female leaders for success in the tech ecosystem.

To watch the video recording of the Info Day #8, please follow the link: https://www.youtube.com/watch?v=tz3LyMtvGVw

Funded by the European Union, under the European Innovation Council (EIC). Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or European Commission. Neither the European Union nor the European Commission can be held responsible for them. The UASEEDs project has received funding from the Horizon Europe Framework Programme under grant agreement No 101104445.