The Ukrainian Startup Fund and the Association of Fintech and Innovation Companies signed a memorandum of cooperation

The partnership of the Ukrainian Startup Fund and the Fintech Association and innovative companies is the next stage in the development of the Ukrainian Fintech and the startup ecosystem as a whole. Partners will exchange information on the best practices for developing a startup ecosystem, facilitate the transfer of relevant knowledge and skills through participation in joint projects, events, meetings, etc.

Members of the Ukrainian Fintech Association undergo preliminary 3-month training in marketing, creating business models, working with clients and other skills necessary for a startup team. And after filling out an application for a grant from the Ukrainian Startup Fund, such startups will be evaluated by the Foundation’s experts with a note confirming the completion of such training. Such identification will not provide any formal advantages in the assessment, but the Fund’s expert will understand that the startup team received the basic knowledge necessary for the development of a successful project.

“Our task is to create the best conditions for the development of the startup ecosystem of Ukraine. Partnership with the Ukrainian Fintech Association is another step in the development of our network of opportunities for startups applying for grants from the Ukrainian Startup Fund. So, today we have received more than 100 applications from representatives of Fintech. We are sure that the members of the Ukrainian Fintech Association will be able to receive high-quality training for successful submission of applications for grant financing, and those companies that need innovative solutions in the Fintech sector will be able to find interesting options for corporate piloting or investment among the Fund’s graduates”, Pavlo Kartashov, Director of the Ukrainian Startup Fund says.

“Despite difficult times, Fintech remains one of the most dynamic industries. According to the latest MEDICI portal data, there are already more than 80 Fintech companies in the world with an estimate of $ 1+ billion. And according to KPMG research, in 2019, the volume of investments in Fintech exceeded $ 135 billion”, – the Chairman of the Board of the Ukrainian Association of Fintech and Innovation Companies Rostislav Dyuk says, – More than 30 startups are already members of our Association. And cooperation with the USF will significantly increase their chances in the fight for state grants”.

This year, the Ukrainian Startup Fund has funded 12 startups worth about UAH 13 million. The Fund’s Supervisory Board approved the next 6 startups that will receive grant funding in excess of UAH 4 million. 4 more startups await the decision of the Supervisory Board on financing in the amount of more than UAH 5 million.

Already at the end of April, another pitch (already fifth) of start-ups applying for grant financing from the Ukrainian Startup Fund will take place.

Source: rubryka.com