The Ukrainian Startup Fund (USF) has financed 57 Ukrainian teams for a total of $2 million over two years since launching its updated grant program for civilian startups. According to the fund, 90% of the projects that received support are still operational, and some startups were funded through a partnership program with the Ukraine-Moldova American Enterprise Fund (UMAEF).
This is reported by Business • Media
Grant Support and Growth of the Startup Ecosystem
During this period, the fund received 560 grant applications from startups across 19 sectors. Of these, 10% of the teams received funding ranging from $25,000 to $50,000. Most of the funded startups were able to attract additional investments. As of July 2025, the winners of the USF grant program have raised over $50 million in external investments. After receiving grants, 29 teams advanced to a new level of development, and the number of employees in these companies increased by 35%. The total annual revenue of 44 startups grew by 112%, reaching $2.33 million.
USF: History of Development and Achievements
USF was established in 2019 at the initiative of the Ministry of Digital Transformation. Following the onset of Russia’s full-scale aggression in 2022, the fund redirected its activities to support military startups and temporarily suspended funding for civilian projects. Up until that point, USF had remained one of the most active angel investors in Ukraine: during this time, it issued $8.2 million in grants to 352 teams, primarily within a grant program providing funding of $25,000–$50,000, which was sourced from the state budget.
USF has financed 57 teams for $2 million in the two years since the resumption of the grant program for civilian startups, with 90% of them continuing to operate.