In Ukraine, they have started developing a new project, “Diia.City Invest”, which will stimulate the creation of small venture funds for the development of high-tech startups. This was reported by the Deputy Prime Minister for Innovation, Development of Education, Science and Technology – Minister of Digital Transformation Mykhailo Fedorov.
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According to him, in order for Ukraine to have its own Google, Facebook, and Uber, it is necessary to form a culture of venture investments.
“That's why, together with the National Commission on Securities and the Stock Market, we are working on the concept of “Diia.City Invest”. We will develop legislation that will allow us to launch a venture investment fund in Ukraine in just a week,” he said.
Fedorov noted that Diia.City Invest will create small venture funds of up to 20 million euros at the initial stage, and the focus will be on investments from Diia.City residents.
He added that 10 venture funds could appear in Ukraine, and Ukrainian technology startups will have “fuel” for development and scaling in Ukraine.
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