Green innovation fund InnovateUkraine starts its work.

Within the framework of cooperation between Ukraine and Great Britain, the InnovateUkraine Fund is starting its operations in the field of green innovation. It will provide grants to support businesses in developing innovative, sustainable energy technologies and business models. It is noted that the main goal of the InnovateUkraine Fund is to strengthen energy security.

The fund’s total volume is £62M. The initial disbursement will be £10M, the remaining funds will be directed in installments until 2025.

Funding will go to energy innovation projects that will accelerate the process of reconstruction and restoration of the Ukrainian energy infrastructure. The grant competition is open to businesses from the UK and other countries.