Denis Dovgopoly launches a fund for Ukrainian startups. Collect applications
Well-known Ukrainian entrepreneur Denis Dovgopoly announced the creation of a new grant fund for Ukrainian startups. Its size will reach $1.5-2 million, and teams can already apply for participation. AIN.UA gives details about the fund.
What is known about the fund
- The fund does not have a name yet, the website will be launched soon. Its partners: Denis Dovgopoly, Ivan Petrenko and others, the board of directors is now in the process of formation. The fund was formed on the basis of the UCU Center for Entrepreneurship, its operational team is from the same place.
- According to Denis, the size of the fund will reach $1.5-2 million, and could potentially grow up to $10 million.
- The idea of the fund originated from the fact that there is now a certain amount of money in the IT market that companies and people cannot transfer to the needs of the army or to humanitarian funds, but are looking for opportunities to spend it for the benefit of Ukraine.
- The fund will give grants in the amount of $50,000. At the start, funds will be given to six teams, in the future, grants will be received by another 20-30 startups.
What startups are of interest to the fund
- These are, first of all, teams in which at least 70% of the employees remain in Ukraine. Despite the fact that a startup can be incorporated anywhere, the money from the grant should be used to pay salaries to Ukrainian specialists. At the start of the fund, this is a basic requirement.
- A startup must have a product that is already being sold, and, accordingly, the proceeds from these sales.
- The fund will not give money to startups that “die anyway, with or without our money”. These should be startups with expenses between $10,000 and $25,000 per month. That is, grant money should be enough for at least 2 months.
- It is desirable that the team is already raising investments, or has an investor ready to enter a startup with a grant.
How to apply
While the fund does not have a website, it will be launched one of these days, and then we will update the news, but a startup can leave an application by filling out an online form.
