Business news from Ukraine

Business news from Ukraine

US Academy of Sciences plans to create science funding fund for Ukraine

18 April , 2024  

The US National Academy of Sciences is working to create a new multimillion-dollar joint science and innovation fund for Ukraine, US Special Representative for Ukraine’s Economic Recovery Penny Pritzker said.

“It will fund specialized cutting-edge research in the service of Ukraine’s economic development,” she said at the U.S.-Ukraine Partnership Forum on Wednesday in Washington.

She said similar initiatives by the U.S. National Academy of Sciences have already been implemented for Israel, India, Egypt, Pakistan and Mexico.

“This is in addition to $230 million in support for Ukraine’s private sector, including new funding for farmers, entrepreneurs, and small businesses in rural and underbanked communities,” Pritzker added.

According to the U.S. National Academy of Sciences website, it is launching the Science and Innovation Fund for Ukraine, supported by about $8 million from the Simons Foundation and the Chan Zuckerberg Initiative and other U.S. philanthropic organizations, with the goal of raising at least $15 million to support the first three years of operation. ETH Zürich is also in the works to create it.

It is noted that the Foundation will provide merit-based grants to individuals and organizations for a range of activities, including: workshops to address scientific issues critical to Ukraine’s long-term renewal; bilateral and multilateral initiatives to advance science policy practice.

It is also envisaged to support Institutes on priority S&T topics contributing to the future of Ukraine; fellowships and research grants to support early and intra-career scientific exchanges; and training on the commercialization of scientific research

It is envisioned that it will include grant funds to support the participation of Ukrainian researchers in international scientific research.

It is stated that the Fund will be managed by a Secretariat based at the U.S. National Academy of Sciences, which will attract partners in Ukraine, additional funds, manage the application process, allocate and monitor the Fund’s expenditures, and evaluate the impact and effectiveness of the Fund’s activities.