Google launches $5 million fund to support Ukrainian startups
Google Corporation announced the creation of a fund to support startups in Ukraine in the amount of $5 million to allocate cash grants during 2022.
This is stated in a company statement.
“The ongoing humanitarian crisis in Ukraine is devastating. Like the rest of the international community, our response has varied according to circumstances. In addition to supporting refugees and combating disinformation, we are investing in Ukraine’s people and businesses.
Today, we are announcing the creation of a $5 million Google Support Fund for Startups in Ukraine to provide non-equity cash grants throughout 2022”, – Google said in a statement.
“Selected Ukrainian startups will be announced on an ongoing basis and will also receive up to $100,000 in equity funding, as well as ongoing Google mentoring, product support, and Cloud credits.
This practical support is designed to help Ukrainian entrepreneurs maintain and grow their businesses, strengthen their communities, and build the foundation for post-war economic recovery.
“Ukraine has a strong and active startup community. Of the approximately 2,000 startups in Ukraine, 126 startups have raised venture capital funding since early 2021”, – Google says.
On March 29, Google CEO Sundar Pichai met with Ukrainian entrepreneurs at the Google for Startups campus in Warsaw.
“During these conversations, we heard practical ways that Google can help the startup community.
Funding is just one element of support that is required. We invited Ukrainian startups to use the Google for Startups Campus Warsaw space as a temporary office. The first few startups – predominantly run by women forced to flee the country – are already operating from campus, and we have witnessed their determination to succeed.
“Supporting startups led by Ukraine will help them succeed and create the technologies that their country needs now.
And as the region begins to recover, startups and tech companies will be key to rebuilding the Ukrainian economy, creating jobs and positively impacting the cities in which they build their homes.
