The Cabinet of Ministers of Ukraine launched the work of the Ukrainian Fund for Satraps, which should provide state support to the newest enterprises. The Prime Minister of Ukraine Volodymyr Groуsman informed about it.
“We replenished the fund with a resource. Today it is 400 million of real money, which will be funneled to support of startups that worth from 25 to 75 thousand dollars with the term of implementation for up to 2 years,” said Groуsman.
He stated that in the future, the funding will be increased tenfold – up to 4 billion hryvnias. The objectives of the fund will be to provide resources for the development of start-ups. They plan to select startups in an open competition.