EC awards €20 million in EIC funding to 41 cutting-edge Ukrainian start-ups and SMEs

The European Commission has awarded €20 million in funding to 41 cutting-edge Ukrainian start-ups and SMEs following an EIC call to help them turn groundbreaking ideas into real-world solutions. Each company will receive between €300,000 and €500,000 along with the possibility to access faster the EIC Accelerator, which offers larger grants and equity investments via the EIC Fund.

The EIC points out that the initiative comes at a critical time as Ukrainian innovators face huge challenges, from limited access to capital to disruptions caused by Russia’s war of aggression. The EU funding will help bridge a critical financing gap, enabling these deep tech pioneers to progress from early-stage development to market-ready deployment in vital sectors such as artificial intelligence, robotics, biotechnology, cybersecurity, and more. 

This funding builds on the Seeds of Bravery initiative launched in 2022 under the EIC in response to Russia’s full-scale invasion of Ukraine. It has already provided Ukrainian tech companies with financial support and business services. The current funding allocation takes this further, targeting companies ready to move from development to real-world demonstration and commercialisation. 

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