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The government launches grant programs for processing and IT industries

The government supported the implementation of three more grant programs to support entrepreneurship and create new jobs during wartime. They are aimed at the development of the processing industry and IT.

"The main goal of the programs is to create new jobs and promote the development of small and medium-sized enterprises, even during wartime. This will ensure GDP growth, economic stability and the fastest possible recovery of our country, so that Ukrainians who were forced to go abroad due to russian aggression can return home,” said Yuliia Svyrydenko, First Vice Prime Minister – Minister of Economy of Ukraine 

The processing industry development program provides for state co-financing of entrepreneurs who want to create or develop their businesses.

  • Funds are allocated for the purchase of the main means of production (machines, technological equipment) and cover the costs of their delivery and commissioning.
  • The first 1,000 applicants will receive a grant of up to 70% of the project cost, the remaining 30% will be financed at their own expense.
  • Participants can attract additional credit funds of up to 16 million Ukrainian hryvnias under the 5-7-9 program at 0%.
  • Entrepreneurs must pay taxes and single social contribution in the amount of the grant within 3 years, creating at least 25 jobs.

The program of investments in IT startups will allow developers of technological products to attract financing for the opening and development of businesses in the field of high technologies.

  • The project finances the implementation of IT startups at various stages – from an idea to a finished viable product.
  • For startups, depending on the stage of implementation, the Innovation Development Fund provides a grant of 750,000 to 3.5 million Ukrainian hryvnias with clear conditions on the number of employees involved, and the Investment Fund provides refundable financial assistance of 3.5 to 8 million Ukrainian hryvnias.
  • The grant recipient’s duty is to pay taxes and single social contribution in the amount of 50% of the received grant within two years and to create at least 5 jobs.

The Start in IT program is grants for the training of Ukrainians in IT specialties.

  • People who have lost their jobs, are on layoff, are on unpaid leaves and IDPs willing to get a new profession in the IT field can receive funding.
  • After completing the training, the participants must, within 30 days, get a job in a new speciality, register as private entrepreneurs or carry out independent professional activities.

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