Ukrainian Startup Fund

What Ukrainian Startup Fund does

Ukrainian Startup Fund (Український фонд стартапів; official legal name Fund for Innovation Development / Фонд розвитку інновацій) is a state-owned institution established in 2018 under the Government of Ukraine and currently managed by the Ministry of Digital Transformation under Minister Fedorov Mykhailo Albertovych. The Fund operates as a non-commercial grant-making and ecosystem-development body that channels public and donor capital to early-stage Ukrainian technology startups at pre-seed and seed stages, with programs spanning Deep Tech, Green Tech, EdTech, AI, and blockchain. It does not sell products or services; its programs are free to eligible startups.

Its core "product" is a portfolio of complementary funding and support instruments rather than a unified technology product: Startup Edge (EUR 1M grant program for pre-seed/seed startups in Deep Tech, Green Tech, EdTech, co-financed with EU4Innovation East), Sandbox (a support program providing legal audits, business analysis, AI expertise, and blockchain audits to AI and blockchain founders), Tech-місії (international tech delegations to events such as MWC Barcelona, ChangeNOW Paris, 4YFN, and Startup Moldova Summit), Seeds of Bravery (a EUR 20M EU-funded initiative in consortium with FundingBox, EIT Health, Plug and Play, Aalto University, and CyberInnovate that disbursed EUR 12M to 318 startups), the Startup Schools network of 23 incubators-accelerators, the Corporate Innovations program embedding startups with major Ukrainian corporates, and Microsoft Azure cloud loans of up to $150,000 for pre-seed to Series A software startups. Underpinning these is a centralized application portal (portal.usf.com.ua) and a national network of 200+ pro bono experts.

Its business model is grant distribution rather than commercial monetization: USF receives funding from the Ukrainian state, the European Union, and international development partners (USAID, GIZ, CRDF Global, WNISEF, EIC, UMAEF, Plug and Play) and disburses it via application-based grants plus complementary in-kind support. To date USF has supported 764 startup teams with over $22.7 million in grant funding, run 500+ ecosystem events (hackathons, bootcamps, mentoring), facilitated attendance at 50 major global tech events, contributed to 61 European coworking access points, and reports that program participants have mobilized $150M+ in private follow-on investment. The Fund also operates the BRAVE1 defense technology cluster launched in 2023 for dual-purpose (defense and reconstruction) startups.

Name

Ukrainian Startup Fund

Legal name

Ukrainian Startup Fund (Український фонд стартапів)

Website

https://usf.com.ua

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

The Ukrainian Startup Fund is a state-owned, Kyiv-based institution under Ukraine's Ministry of Digital Transformation that distributes grants and ecosystem support (Startup Edge, Sandbox, Seeds of Bravery, BRAVE1) to early-stage Ukrainian technology startups. Since 2018 it has supported 764 teams with over $22.7M in funding.

Ownership category

akta.pro rank

Product category

Government Startup Grant Programs

NAICS

Grantmaking Foundations (813211), Educational Support Services (611710)

SIC

Services-Social Services (8300), Services-Educational Services (8200)

akta.pro primary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

akta.pro secondary industry

International Grantmaking & Development Foundations (BPAGAKAH)

Keywords

• Startup grant funding
• Early-stage investment
• Startup acceleration programs
• Innovation ecosystem development
• Government-backed grants

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Grant Distribution: USF distributes grant funding to early-stage Ukrainian startups through various programs (Startup EDGE, Seeds of Bravery, Sandbox, etc.). As a government-backed institution, it does not generate commercial revenue but rather disburses public and international funds to support the startup ecosystem.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Ukrainian Startup Fund is a state-owned institution that provides non-dilutive grant funding and non-financial support (mentorship, acceleration, international tech missions, and regulatory sandbox services) to early-stage Ukrainian technology startups. Its offerings include the Startup EDGE grant program (€1M), the Sandbox for AI/blockchain startups, Tech-місії (international delegations), a national network of 23 startup schools, the EU-funded Seeds of Bravery program (€20M), Corporate Innovations, and Microsoft Azure cloud loans up to $150,000.

Product overview

Ukrainian Startup Fund (Український фонд стартапів) is a state institution that operates as a grant and support organization rather than a unified technology product. The Fund offers multiple programs including: Startup Edge (€1M grant program for Deep Tech, Green Tech, EdTech startups), Sandbox (AI/blockchain support with legal audits and technical expertise), Tech-місії (international delegations), a network of 23 Startup Schools/incubators/accelerators, Seeds of Bravery (€20M EU-funded initiative providing up to €60,000 grants to 318+ startups), Corporate Innovations (corporate-startup integration), and Microsoft Azure cloud loans (up to $150,000 for qualifying startups). Together these programs have supported 764 startup teams with over $22.7 million in funding.

Differentiator

Problem solved

Functional benefit

Products and services

• Startup EDGE A €1 million grant program supporting early-stage Ukrainian technology startups at pre-seed and seed stages, focused on Deep Tech, Green Tech, and EdTech sectors to enhance competitiveness and integrate into European technology value chains.
• Sandbox A comprehensive support program for AI and blockchain startups providing legal audits, business analysis, AI expertise, and blockchain technology audits targeting startups in healthcare, education, defense, public services, and infrastructure.
• Tech-місії (Tech-missions) International delegation program that facilitates Ukrainian startup participation in global technology events and provides opportunities for international expansion, networking, and access to international investors.
• Стартап-школи (Startup Schools) National network of 23 startup schools, incubators, and accelerators across Ukraine providing education, mentorship, and support for early-stage entrepreneurs.
• Seeds of Bravery A €20 million European Union-funded project supporting Ukrainian tech SMEs and startups with grants up to €60,000. The program connects startups to European investors, corporations, and provides access to coworking spaces across Europe.
• Корпоративні інновації (Corporate Innovations) Program enabling startups to incorporate their products into the operations of major Ukrainian corporations, facilitating corporate-startup collaboration and market access.
• Microsoft Azure Cloud Loans Partnership with Microsoft providing Ukrainian startups with loans up to $150,000 for cloud infrastructure on the Azure platform, targeting early-stage software startups from Pre-seed to Series A.

Quantifiable outcome

• 764 startup teams received support totaling over $22.7 million
• +5 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered minor, flagship and core.

• Startup Moldova SummitminorGTM or Marketing Partner · 1 May 2026Ukrainian Startup Fund announced a partnership with Startup Moldova Summit to help Moldovan startups access EU acceleration programs, crowdfunding platforms, and European investor networks. USF joins Unicorn Factory Lisbon and SeedBlink as international partners of the summit.
• La French Tech KyivminorStrategic or Co-development Partner · 26 March 2026La French Tech Kyiv supported Ukrainian startups at the ChangeNOW Summit in Paris, providing tickets for 5 additional Ukrainian startups covering AI mineral exploration, eco-decor, e-commerce automation, news intelligence, and career planning, in coordination with EU4Innovation East project.
• Seeds of Bravery Consortium (FundingBox, CyberInnovate, EIT Health, Plug and Play, Aalto University)flagshipStrategic or Co-development Partner · 4 March 2026Seeds of Bravery is a EUR 20 million European Union-funded initiative to develop Ukraine's deep tech industry, implemented by a consortium including FundingBox, Ukrainian Startup Fund, CyberInnovate, EIT Health, Plug and Play, and Aalto University. The initiative distributed EUR 12 million to 318 Ukrainian tech startups over 2.5 years, facilitated 600 client meetings, and connected startups to 2,430 European investors and 61 coworking spaces across Europe.
• MicrosoftcoreGTM or Marketing Partner · 25 February 2026Microsoft partnered with USF to provide Ukrainian technology startups with Azure cloud infrastructure loans of up to $150,000. The program targets early-stage software startups from Pre-seed to Series A to optimize operating costs, improve products faster, and enter international markets through integration into the global tech community.
• Unicorn Factory LisbonminorStrategic or Co-development PartnerInternational partnership at Startup Moldova Summit enabling startups to access EU acceleration programs and cross-border innovation opportunities.
• BRAVE1 Defense Technology ClusterflagshipStrategic or Co-development PartnerIn 2023, USF launched the BRAVE1 defense technology cluster to support the development of defense tech startups and solutions for Ukraine's national security needs.
• UK DIGIT Initiative / Eurasia FoundationcoreStrategic or Co-development PartnerThe UK DIGIT initiative, implemented by the Eurasia Foundation and funded by UK Dev, supports the Sandbox program for AI and blockchain startups in Ukraine, providing legal audits, business analysis, AI expertise, and blockchain technology audits.
• Glovo Startup LabminorStrategic or Co-development PartnerProvided grants to Uspacy as part of a diversified pre-seed funding round.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Bpifrance: France's public investment bank and national innovation agency, providing grants, loans, and equity to French startups and SMEs. Direct functional peer to USF as a state-backed institution channeling public funds to early-stage technology companies.
• Israel Innovation Authority: Israel's national grantmaking authority for technology innovation, providing non-dilutive funding to early-stage startups across deep tech and emerging sectors. Operates as a government-backed institution with comparable mandate to USF in supporting early-stage founders with grants rather than equity.
• Innovate UK: UK's national innovation agency funding business-led innovation through grants and competitions. Direct peer to USF in mission and mechanism — government-backed grantmaking to early-stage technology ventures.
• SeedBlink: Central and Eastern European crowdfunding and venture platform announced as a USF international partner at the Startup Moldova Summit. Direct peer in serving early-stage tech startups in the CEE region with capital access and investor networks.
• European Innovation Council (EIC): The EU's flagship innovation funding program providing grants and equity to deep-tech and scaling startups. Listed as a USF supporting organization and direct peer in funding European-rooted deep-tech innovation through non-dilutive instruments.

Regional players

• Polish Development Fund (PFR Ventures): Polish state-backed fund-of-funds managing venture capital programs for Polish startups and SMEs. Regional peer to USF as a Central European state-backed innovation funding institution with comparable mandate to channel public capital to early-stage companies.
• Startup Estonia: Estonian government initiative supporting the local startup ecosystem through programs, events, and capital access. Regional peer to USF as a state-backed startup support institution, though Estonia's program is smaller in scale and focused on a more developed ecosystem.

Broad incumbents

• Y Combinator: The world's largest startup accelerator providing seed funding and mentorship in exchange for equity. Differs from USF in model (equity vs grants) but operates in the same early-stage startup support category with similar ecosystem-building effects.
• Plug and Play: Global accelerator and venture platform operating across multiple verticals and geographies, including as a Seeds of Bravery consortium partner with USF. Functions as a corporate-startup matching platform — broader and more commercial in scope than USF.
• Techstars: Global accelerator network operating mentorship-driven programs across multiple verticals. Comparable to USF in providing early-stage support infrastructure and ecosystem development, but as a private for-profit entity rather than a state institution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@UkrainianStartupFund
• Facebookfacebook.com/ukrainianstartupfund
• LinkedInlinkedin.com/company/ukrainian-startup-fund
• Instagraminstagram.com/ukrainian.startup.fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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M&A

Investments229 records

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Frequently asked questions about Ukrainian Startup Fund