Ukraine has begun developing a new project, “Diya.City Invest,” which will stimulate the creation of small venture funds to create high-tech startups. The deputy prime minister for innovation, education, science, and technology development and minister of digital transformation, Mykhailo Fedorov, reported this.
According to him, for Ukraine to have its own Google, Facebook, and Uber, it is necessary to form a culture of venture investment.
“Therefore, together with the National Securities and Stock Market Commission, we are working on the concept of “Diya.City Invest.” We will develop legislation that will allow us to launch a venture investment fund in Ukraine in a week,” he said.
Fedorov noted that “Diya.City Invest” will create small venture funds of up to 20 million euros at the initial stage, and the focus will be on investments in “Diya.City” residents.
He added that up to 10 venture funds may appear in Ukraine, and Ukrainian technology startups will have “fuel” for development and scaling in Ukraine.
