Ukraine has launched an updated version of the “Own Business 2.0” program, which raises the maximum grant amount for entrepreneurs to UAH 2.5 million. The new terms also allow applicants to choose the duration of their business project and provide separate levels of support for launching and scaling a business.
This was reported by the Ministry of Economy and Environment of Ukraine.
The maximum grant amount will consist of a basic sum plus additional bonuses awarded for meeting certain conditions.
Those starting a business will be able to receive between UAH 100,000 and UAH 500,000. Creating new jobs will not be mandatory.
For scaling an existing business, grants from UAH 500,000 to UAH 2.5 million will be available. A mandatory condition will be the creation of at least one new job.
Entrepreneurs will also be able to choose the duration of their business project themselves — two, three, or five years.
According to Minister Oleksandr Kravchenko, the updated program better reflects the needs of businesses in frontline areas, relocated companies, veterans and internally displaced persons, as well as the need to restore damaged assets.
Applications for grants can be submitted through the Diia portal. The authorized banks are Oschadbank, Sense Bank, and PrivatBank.
The program is being implemented by the Ministry of Economy and Environment, the Ministry of Digital Transformation, and the State Employment Service.
