Business news from Ukraine

UKRAINIAN STARTUP FUND TO FINANCE 13 STARTUPS

The supervisory board of Ukrainian Startup Fund (USF), based on the results of the 26th and 27th Pitch Days, has defined 13 more startups that will receive grants totaling $475,000, the fund’s press service has said.
Teams of 24 projects took part in the pitching. Following the meeting of the fund’s supervisory board, it was decided to finance seven of them at the pre-seed stage (they will receive a grant of $25,000):
Avocado AI. B2B SaaS (Kyiv) – uses mathematical models to predict the demand for dishes and form the best order of ingredients for the establishment;
MANNA (Kyiv) – an interactive media platform for creating author’s 3D animation content, streaming and social interaction in the VR environment;
Advin (Kyiv) – a system for controlling the availability of goods on the shelves of a food retail store;
Monor (Kyiv) – innovative glasses from a 3D printer with the possibility of customization and a unique system for attaching the temples;
Energy Absorbing Breakwater (Dnipro) – a completely autonomous device for converting the energy of sea waves into water desalination and electricity generation;
4comfortshoes (Kyiv) – an online shoe fitting service for retailers and buyers. Based on the photographs of the buyer’s feet, the service determines the parameters and size of the shoes;
Workee (Kyiv) is a comprehensive solution for running a private coaching business.
In addition, it was decided to finance five startups at the seed stage (they will receive a grant of $50,000):
Awesomic (Kyiv) – an online application that matches the company’s task with the best designer to complete it;
Copra (Odesa) – a Ukrainian developer of premium acoustic systems and amplifiers;
DreamApp (Kyiv) – an interpreter of dreams;
Onyx (Cherkasy) – patented contactless towel dryers;
Noplag (Kyiv) – a service for checking plagiarism and resources for academic writing;
Meteocontrol AI (Kyiv) – a platform for insurance of farmers based on satellite data and proprietary algorithms.
The press service recalled that during the pitching, projects are assessed according to a number of criteria – team, market, appropriateness of financing, idea and development strategy.
As reported, on average, the Ukrainian Startup Fund allocates funding for every 25th application.
Ukrainian Startup Fund is a state fund created on the initiative of the Cabinet of Ministers. Its purpose is to provide financing to technology companies in the early stages of development (pre-seed and seed).

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UKRAINIAN STARTUP FUND TO FINANCE STARTUPS

The Supervisory Board of the Ukrainian Startup Fund (USF), based on the results of the 23rd and 24th Pitch Days, has identified another 13 startups that will receive grants totaling $425,000, the fund’s press service said on Thursday.
Teams of 24 projects took part in the pitching. Following the meeting of the fund’s supervisory board, it was decided to finance nine of them at the pre-seed stage (they will receive a grant of $25,000):
GeronCore – a living heart (Kyiv) – a new generation of cardio implants for children with congenital heart ailments;
AGRO BI (Kyiv) – Business intelligence platform for managing risks and increasing yields in agribusiness, providing information on plant growth and the presence of weeds based on high-precision aerial photography by drones and using its own neural networks;
Harmix (Kyiv) – an intelligent service that automatically selects music for video;
Erudito (Kharkiv) – a mobile application for teaching children school subjects in a playful manner;
Ademrius (Lviv) – a web platform for automating the work of medical institutions through the introduction of online appointments with a doctor and an electronic patient history;
Librarius (Kyiv) – a mobile application for the selection, purchase, rent and free reading of literature in electronic and audio formats;
Artera (Kyiv) – marker pen that can write or draw in any color;
Supplio (Kyiv) – integrates cosmetics suppliers with their customers, thus providing automated order management based on actual inventory;
AutoBI (Kyiv, Lviv) – a system for the automotive and related areas for setting up and optimizing fleet of vehicles management processes.
In addition, it was decided to finance four startups at the seed stage (they will receive a grant of $50,000):
Effa (Kyiv) – environmentally friendly disposable hygiene products made from 100% recyclable and renewable materials;
CareTech.Human (Kyiv) – an automated, non-invasive and affordable solution for daily health screening, early detection and monitoring of diabetes;
SmartReader (Rivne) – classes on speed reading and memory development for children 6-16 years old using a gamified online platform;
Fiway (Kharkiv) – Internet for transport, which works in any country in the world.
The press service recalled that during the pitching, projects are evaluated according to a number of criteria, namely: team, market, appropriateness of financing, idea and development strategy.
As reported, on average, the Ukrainian Startup Fund allocates funding for every 25th application.
Ukrainian Startup Fund is a state fund created at the initiative of the Cabinet of Ministers. Its purpose is to provide financing to technology companies in the early stages of development (pre-seed and seed).

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UKRAINIAN STARTUP FUND STARTS TO ACCEPT APPLICATIONS FOR GRANTS IN A MONTH

The Ukrainian Startup Fund will start accepting applications from startups in November 2019, and plans to hold a pitch event in December, member of the fund’s supervisory board Lesia Sevruk has told Interfax-Ukraine. “At present, a portal is being developed through which applications will be submitted. Accordingly, they are not yet available. Submitting applications through the portal is fundamental for us to minimize the subjective influence of the fund’s employees on the selection process. We plan to receive applications in November, and an event in December,” she said.
According to her, the fund’s supervisory board has approved the procedure for issuing grants and regulations on the commission and expert council.
“In the near future we will form a commission and an expert council,” Sevruk added.
As reported, the Ukrainian Startup Fund with a budget of UAH 400 million was launched in July 2019. The fund plans to give grants to startups at an early stage in the amount of $25,000 to $75,000. The fund announced the first five transactions by the end of 2019.

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