According to the head of Google for Startups, Michal Kramarz, Ukrainian companies supported by the fund received $10M in funding during the war in 2022 and hired an additional 216 employees. But what is also very important is that they were able to increase their sales by 200% year over year, which means that even in the difficult time during the war they achieved incredible results.
Kramarz recalled that in March of last year, Google announced the creation of a $5M fund to support Ukrainian startups. As part of it, it was planned to allocate grants of up to $100,000 without active management of the companies’ capital. In addition, selected startups were also eligible for corporate mentoring, product support, and Cloud credits.