The USAID program “Competitive Economy of Ukraine” expands grant support for the recovery of Ukrainian small and medium-sized businesses up to UAH 92 million, thus enterprises will be able to receive more grants.
According to the notification of the Ministry of Economy, the grant program was opened on July 22, 2022.
Within the framework of the program, it is planned to provide about 120 grants in the amount of UAH 600,000 to UAH 1.2 million. The amount of grant support within the program increased from UAH 36 million to UAH 92 million, which allows more small and medium-sized enterprises to take advantage of its benefits.
The program focuses on the information technology, engineering, manufacturing, services and creative industries sectors. At the same time, the program is open to applications for support from other sectors that meet the criteria of this request. The activities of the grant recipient may be focused on the following needs:
improvement of business processes and models;
development of organizational potential;
development of production, sales;
digital and trade capabilities.
Areas of grant assistance may include: product development and innovation, creation or restoration of supply chains, strengthening staff training and staffing, improving online marketing and promotion in domestic and foreign markets, increasing business competitiveness, as well as similar activities related to supporting business continuity and recovery.
Applications will be accepted until July 24, 2023 (inclusive).
The USAID program “Competitive Economy of Ukraine” supports startups and small and medium-sized enterprises in order to increase their competitiveness in the domestic market of Ukraine and in international markets, helps in building a simplified and transparent business climate, and also provides Ukrainian companies with opportunities to take advantage of international trade.