Google has created a fund to support Ukrainian startups.

The war, among other negative consequences, has triggered a humanitarian crisis in Ukraine. The country's economy and businesses are facing serious problems. Entrepreneurs are struggling to survive, trying to maintain their businesses, attract investment from abroad, and maintain the ability to support the army.

On March 30, Google management announced the creation of the Google for Startups Ukraine Support Fund – a $5 million support fund for Ukrainian businesses, with the goal of supporting Ukrainian entrepreneurship and creating a foundation for economic recovery after the end of the war.

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The fund plans to allocate cash grants to support Ukrainian businesses throughout 2022. Approximately 50 companies registered in Ukraine before February 24, 2022, will be eligible to participate in the program.

Google said the selected startups will be announced regularly throughout the year. They will be eligible to receive up to $100,000 in funding, plus Google's mentorship program, product support, and Google Cloud credits.

In addition to providing funding, Google is inviting Ukrainian businesses to use the Google for Startups Campus space in Warsaw as a temporary office.

Application deadlines

The Ukrainian Business Support Fund will begin operations in March and will operate throughout 2022. Applications can be submitted in Ukrainian and English throughout the year. This can be done directly throughform.

The fund is partnering with Huge Thing, which will participate in the candidate selection process and be responsible for funding allocation. Selected startups will be announced regularly as they are approved. Within a month of submitting an application, the Google team will contact a representative of the selected startup and invite them to the next stage – an interview.

Who can apply?

To participate in the competition, startups must meet the following conditions:

• be registered and reside on the territory of Ukraine until February 24, 2022;
• pass the testing stage (MVP) and have proven profitability;
• priority will be given to companies that have a social impact mission;
• founders who will use the cash reward for:
  • continued growth/recovery of business operations damaged by the war;
  • the main product for solving problems and the current crisis.

How much assistance can a startup receive?

The size of the investment will depend on the stage of development of each startup and its current needs.

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