Google announced the launch of the second stage of financing of a special Startup Support Fund in Ukraine in the amount of $10 million for the allocation of grants (no need to repay if all the conditions set forth are met within a certain time frame) during 2024.
We are talking about an initiative to support startups in Ukraine Google for Startups Ukraine Support Fund – a special fund appeared in March 2022. Then Google allocated the first 5 million – in general, under the grant program, 58 domestic startups, selected in several rounds during 2022-2023, received funding and support of various kinds. Grant recipients of the Google program include the well-known drug search and delivery service Liki24.com, the developer of bionic prostheses Esper Bionics and the developer of the remote heart monitoring service Cardiolyse. The startups, with the support of the Ukraine Support Fund, received $15.8 million in further funding, achieved 100% revenue growth and significantly increased the number of jobs, despite the war and economic challenges.
The other day Google announced the launch of the second stage of financing and doubled the amount of funding, to $10 million. As in the first stage, selected Ukrainian startups (they should be named gradually throughout the year) will receive up to $200 thousand in equity-free financing
This is when the funds are provided without the obligation to repay additional money above the principal amount of the loan or investment, as well as Google mentoring support, product support and another $300 thousand in Google Cloud credits.
Applications will begin later this year (the exact date has not been announced) on the Google for Startups Ukraine Support Fund initiative website – there is also an FAQ section where you can find answers to all the basic questions about the initiative. < /p>
Since the start of the devastating war in Ukraine, Google has contributed more than $45 million in cash and $7 million in kind to support humanitarian efforts in Ukraine and those fleeing the Russian-led war. Other recent Google initiatives in support of Ukrainians and Ukraine include assistance in protecting against cyber attacks (Project Shield), combating disinformation spread by Russian propaganda, 50 thousand Chromebook laptops for Ukrainian teachers and 50 thousand Workspace licenses, thanks to which government employees use free corporate email, cloud storage and other Google Workspace services.
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And this is all, of course, very cool and Ukrainians are incredibly grateful to Google for their help. At the same time, we are all still waiting for a future without Russian language, a normal Ukrainian-language search and a repaired recommendation system on YouTube, because how much can one shamelessly impose Russian-language content from Russian-language sources.
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