Seeds of Bravery: European innovation council provides €20 million for innovation development in Ukraine

On May 10, the European Commission announced the partners that will implement the €20 million European Innovation Council (EIC) project to support the Ukrainian innovation community and its integration into the European network. The winning consortium (a pan-European network of startup associations, entrepreneurship support centers, incubators, and accelerators) is called “Seeds of Bravery”.

One of the key members of the 17-member consortium is Ukrainian Startup Fund (USF). The USF will be responsible for grant-making and communication. The experienced Polish agency FundingBox has become the coordinator of the consortium. Luxinnovation, Plug and Play, Erasmus Center for Entrepreneurship, and other well-known European stakeholders have also joined the consortium.

The main goal of “Seeds of Bravery” is to create a pan-European network that bilaterally supports both the integration of Ukrainian technology innovators into European ecosystems and their activities in Ukraine.

Due to the diverse expertise of the consortium partners (including researchers, investors, incubators, support centers, etc.), as well as the preliminary research conducted to assess and identify gaps and needs of Ukrainian entrepreneurs, “Seeds of Bravery” is uniquely positioned to achieve its objectives, maximize impact and create a tangible partnership between the EU and Ukraine in the long term.

The total amount of funds that can be provided as grants to Ukrainian startups and innovative companies will be €12 million. In addition to grant funding, activities are envisaged to attract additional investment, promote Ukrainian projects, train entrepreneurs, and provide programs to enter international markets, as well as measures to integrate the Ukrainian innovation ecosystem into the European network.

“Development of innovations is one of our priorities. This is the way to develop the digital economy, increase GDP and strengthen our army. We plan to help about 200 Ukrainian startups under the “Seeds of Bravery” project. This is an opportunity to develop our innovation community. We believe in the ability of our entrepreneurs to implement revolutionary ideas. Therefore, we are grateful to the European Innovation Council, which also sees this potential and gives a powerful impetus to the development of innovations in Ukraine,” – said Mykhailo Fedorov, Deputy Prime Minister for Innovation, Education, Science and Technology Development – Minister of Digital Transformation of Ukraine.

The grants to be awarded under the initiative will be based on USF approaches and will have different sizes and goals – from €10k to €50k. Each startup will be able to attract up to EUR €60k in grant funding.

“Seeds of Bravery” will pay special attention to innovative solutions aimed at rebuilding Ukraine, as well as deep tech projects with a focus on women’s entrepreneurship.

€12 million will increase the grant potential for supporting Ukrainian startups in 2023-2025. It is expected that more than 200 Ukrainian startups will be able to receive funding, and additional project initiatives will train about 600 more innovators who will be able to become successful entrepreneurs.

“This news stunned us, as Ukraine has received a powerful boost from the European Innovation Council. Now, the Ukrainian Startup Fund will intensify its efforts to find the most promising deep tech startups to help them reach their full potential. With this support, we intend to set new records in the global tech arena and prove that Ukraine is a true tech hub. We urge scientists and entrepreneurs from all over Ukraine to take advantage of this opportunity and create innovative startups that have the potential to transform industries and change the world!” – said Pavlo Kartashov, Director of Ukrainian Startup Fund.

“Seeds of Bravery” will last for two years. The initiative will help preserve Ukraine’s innovation and economic potential, build opportunities for ecosystem recovery and growth, and create innovations for Ukraine’s new economy.

A grant agreement is currently being prepared and all necessary documents are being approved. Startups will soon be able to apply for grants.

We are confident that the implementation of the Seeds of Bravery project can be a key factor in the successful transformation of the country in economic and technological terms. Supporting Ukraine’s innovation landscape will not only help in the fight against the consequences of the war, but will also provide a path to a European future where Ukraine will be recognized as a nation that actively contributes to global progress and innovation!

Disclaimer: Funded by the European Union. 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. UASEEDs project has received funding from the Horizon Europe Framework Programme under grant agreement No 101104445.