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PM advocates large fund to promote Ukrainian startups be set up
21.07.2017 | 14:11

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.

The participants 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 Volodymyr Groysman.

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.


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