WNISEF plans to channel USD 5mln into Ukrainian IT startups

WNISEF plans to channel USD 5mln into Ukrainian IT startups

Western NIS Enterprise Fund decided to allocate the USD 5mln investment facility for Ukrainian startup projects in IT industry

"We have received a permit to launch a new fund for startups in the IT sector," told WNISEF CEO Jaroslawa Z. Johnson.

SInce March 2015, the fund has been implementing technical aid for Ukraine and Moldova worth USD 35mln. In April, the  In Ukraine, the fund has already invested more than USD 10mln into projects aiming at advancement of social standards and implementation of the reforms. Notably, WNISEF with it USD 50 000 input was the first investor into Ukrainian electronic procurement system ProZorro.  To note, ProZorro is widely treated as the most successful anti-corruption reform in Ukraine.WNISEF also provided funding for the first ‘Open Data Incubator 1991’ in Ukraine.

WNISEF plans to continue investing into 5 new incubators in Ukraine and Moldova until 2018.

The projects may not only use open data but also commercial sources. Thus, IT for IT project of cloud technologies has already got the financing in the frames of the USD 5mln facility, announced Iryna Ozymok, Local Economic Development Program Manager.


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