Program purpose
The Grant program of the Ukrainian Startup Fund (USF) was created to provide financial support to Ukrainian startups in the form of grants. USF provides funding to Ukrainian startups in the pre-seed and seed stages of $ 25,000 and $ 50,000 without equity participation.
The startup has the opportunity to receive up to $ 75,000 for its development and current activities, as well as up to $ 10,000 for the Acceleration program in one of the international or Ukrainian accelerators.
Program objectives
USF Grant program aims to promote the creation and growth of early-stage technology startups in Ukraine in order to increase their global competitiveness. By providing capital for startups, Fund seeks to facilitate efforts to finance and promote these startups, as well as to develop the Ukrainian technology startup ecosystem.
About USF Grant Program
We support startups, in particular, but not exclusively, in the following industries (verticals):
Roadmap
Registration and submitting an Application
Internal compliance
Expert evaluation
Pitch and evaluation by the Selection Commission
Approval by the Supervisory Board
Concluding a Grant Agreement
Useful Information
Budget and funding
USF Grant program covers the entire amount of expenses envisaged by the estimate approved by the Fund. The amount of grant financing is transferred in tranches to a separate bank account opened for the purposes of implementation of the Grant Agreement.
How to plan the Estimate properly?
• Get acquainted with the provisions under the Regulation on the Grant Program of the Innovation Development Fund;
• Examine all the requirements and cost limits;
• Plan and discuss each of the expense items with team members;
• Review price proposals;
• Check the existence of an employment relationship with team members;
• Prepare the necessary documents.
Tax issues
Important: The amount of taxes depends on the form of registration of the business entity chosen by the Startup.
LLC pays taxes according to its system of taxation (general or simplified) – corporate income tax or single tax.
Private Entrepreneur deducts from the total amount of the Grant – income tax rate (18%) + military tax (1.5%). Thus, employee receives 19.5% less than the amount, included in the Estimate and this must be taken into account.
An estimate item “Other salary accruals” should also include the social security tax (22%).
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