USF: During the five months of full-scale war in Ukraine, none of the Fund’s grantee startups has closed down
Despite the war, Ukrainian startups have enough strength to survive and stay afloat. During the five months of full-scale war in Ukraine, none of the Fund’s grantee startups has closed down.
USF representatives told Forbes about the objective situation of the Ukrainian startup ecosystem during the war as part of a survey of the most active players of the Ukrainian venture market.
In particular, since the beginning of the war, the Fund has received 20 letters from startups about force majeure and the temporary impossibility of fulfilling their obligations under USF grant agreements. Of them, 12 startups have already fully resumed their work. And the other 8 startups temporarily suspended their activities since the beginning of the war, but did not close down.
Despite the challenges, the ecosystem is resilient. And even more, the war hardened Ukrainian startups and forced them to build up their resilience. It can be a great competitive advantage of the Ukrainian startup industry in the global market.
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