Fedorov announces new project of Diia to create venture funds to support technological startups
In Ukraine, the development of a new project Diia.City Invest has begun, designed to stimulate the creation of small venture funds for the development of high-tech startups, said Deputy Prime Minister for Innovation, Education, Science and Technology - Minister of Digital Transformation Mykhailo Fedorov.
"In order for Ukraine to have its own Google, Facebook, 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 Diia.City Invest," he wrote on Telegram on Wednesday.
To this end, according to Fedorov, it is planned to develop appropriate legislation that will allow launching a venture investment fund in Ukraine literally in a week.
"Diia.City Invest will create small venture funds of up to EUR20 million at the initial stage. The focus is on investments in residents of Diia.City," he emphasized.
"Up to 10 venture funds may appear in Ukraine, and Ukrainian technological startups will have "fuel" for development and scaling here in the country. Everyone will be able to support a talented startup and earn on ideas," Fedorov noted.
The deputy prime minister expressed gratitude to Chairman of the National Securities and Markets Commission Ruslan Mahomedov for the partnership.
"The technological sector is our key to a strong economy," Fedorov is confident.