EU backs 41 Ukrainian startups with €20M innovation funding (Photo: martaposemuckel / pixabay)
The European Commission has approved €20 million ($23 million) in funding for 41 Ukrainian startups and compact and medium-sized enterprises, the European Innovation Council (EIC) reported on April 1.
Each selected company will receive between €300,000 ($345,000) and €500,000 (€575,000), along with quicker access to the EIC Accelerator, which provides larger grants and equity investment through the EIC Fund.
The funding is intfinished to support companies relocate from early-stage innovation to market-ready solutions across sectors including artificial ininformigence, robotics, biotechnology, and cybersecurity.
Among the selected startups:
- Farsight Vision — developing a system to detect and locate unauthorized drones near airports and critical infrastructure by analyzing video streams without applying GPS or radio signals.
- Anotherland — an AI-powered platform that converts architectural and engineering plans into interactive digital twins for real estate and large-scale reconstruction projects.
- Innovinnprom — applying artificial ininformigence to predict grain spoilage in silos by analyzing temperature, humidity, and gas levels.
Officials declared the funding will support integrate Ukrainian startups into the European innovation ecosystem and strengthen Ukraine’s long-term economic alignment with the European Union.
According to government data, the number of AI specialists in Ukraine has increased by 17% over the past two years, reaching about 6,100 professionals. The Digital Transformation Minisattempt has also declared Ukraine ranks second in Eastern Europe by the number of AI companies.
Follow us on Twitter, Facebook and
Google News
Leave a Reply