Prime Minister of
Ukraine Volodymyr Groysman stands for the creation of a large fund to support
Ukrainian startups, which can be financed from the state budget and by
attracting large international investors. The Head of Government aired the aforesaid
proposal during a meeting with members of the Supervisory Board of Ukrainian Venture
Capital and Private Equity Association" which has a mission of establishing
international connections at the industry and government levels, as well as facilitating
the motion of knowledge and capital in both directions.
of the meeting stressed that investors are keen on investing in a number of
Ukrainian sectors, including the IT sphere, cyber-security, dual-use
technology, military technology. Therefore, the creation of the fund would help
to optimize the process of search and to invite investors, for example, at the
level of the European Investment Fund.
The Head of
Government proposed to draft the concept of work of the fund and to combine
with the activity of the Council of Innovations to be launched shortly.
Volodymyr Groysman added that following the discussion and approval of such a
concept the Government would have a chance to develop ways for possible participation
of the Government in the formation of the fund’s budget.
The PM expressed his
assurance that Ukraine needs "creation of a closed ecosystem of investment
and innovation support", thereby promoting the development of
technological solutions and their introduction into the economy, and simultaneously
eliminating the accumulated problems of investment development, in particular pressure
on business. "I ain’t going to dissemble facts
of pressure on business, as I consider it a fundamental issue", stressed
He reminded that
there exist four performant mechanisms, inter alia: UkraineInvest Investment Support Office, National Industry Development Committee, Export Promotion Office, Innovation Support Council. "These are tools that allow
us to methodically address problems", the Head of Government noted.