Ukrainian fund grants veterans up to ₴1.5 mln to develop businesses

Ukrainian veterans can receive grants of up to one and a half million hryvnias to start their own businesses.

Rubryka reports, referring to the Ukrainian Veterans' Fund (UVF) press service.

What is the problem?

Two-thirds of Ukrainian veterans want to have their own business, according to a survey by the UVF. Among veterans, 6.2% of respondents have already opened their own businesses.

Veterans face difficulties finding work, but the foundation notes that this problem is not the most serious.

What is the solution?

The Ukrainian Veterans' Fund at the Ministry of Veterans Affairs and the MHP Communities Charity Fund presented the concept of the #WorthIt Doing Your Own Thing financing program, which will be launched soon.

Under this program, veterans, as well as relatives of fallen defenders, will be able to receive from 500,000 to 1.5 million hryvnias to start and develop their own businesses.

The total budget of the competition is 15 million hryvnias.

How does it work?

"Ukraine is positioned as a country focused on the food industry of world importance, so new technologies are being introduced the fastest here, and there is a transition from extensive to intensive agriculture where, for example, drones are becoming an integral part of the industry," says Ruslana Velychko-Trifoniuk, first deputy executive director of the Ukrainian Veterans Fund. "We are focused on introducing new technologies that do not require a lot of manual labor. Fortunately, the veteran businesses implement innovations and technologies the fastest because they have already dealt with the latest technology on the battlefield, so they are not afraid to work with it in civilian life." 

During 2022, the Ukrainian Veterans Fund held two macro-financing contests, in which 53 winners received financing of 500,000 to one million hryvnias.

Preference will be given to businesses that support food security: from creating software for agricultural drones to opening a bakery.

Applications will be accepted from March 24.

The Ukrainian Veterans Fund has launched a program of financial support for IDP veterans, which will operate until the end of martial law. Program participants can receive up to 20,000 reimbursements for business products.