Business News Science, 28/06/2018

First Business Incubator for Startups Opens in Kharkiv

On June 27, the administration of National Technical University “Kharkiv Polytechnic Institute” and the State Finance Institution for Innovations signed a memorandum on launching the first joint business incubator.

Consequently, Kharkiv has become one of four Ukrainian cities where the Ministry of Economic Development and Trade of Ukraine is funding the pilot project of the state startups’ incubators.

The first new-type innovative business incubator in Ukraine will be based in the premises of the computer-technological college of Kharkiv Polytechnic University. The room of about 700 square meters has already started to be repaired.

The officials explain that this institution will provide the inventors with opportunities for development and further promotion of their projects. The business incubator will be opened to teachers, students, researchers and all kinds of startuppers.

Yana Podlesna, Acting Chairman of the Board of the State Finance Institution for Innovations notes that it is for the first time in the history of Ukraine when the Ministry of Economic Development and Trade offers finance to the inventors.

“The all-Ukrainian competition will be announced in order for the inventors to apply for state funding. The winners will not have to pay the money back as this is not a credit, but a grant,” Podlesna adds.

According to the organizers, projects in various fields – including chemical, electrical and space engineering, pharmacology and medicine, IT technology and artificial intelligence – will be considered and subsequently sustained. The competitive selection will be carried out by the independent committee authorized by the Ministry of Economy’s department on financial support for business.

Charles Whitehead, investment manager, USA, who took part in yesterday’s presentation, points out that the incubator has to become an integral part of the international business. So the new platform with its developments will provide opportunities for promoting startups in the world.

The officials report that the startup competition will be launched this fall by the Ministry of Economy.

Text: Olena Sokolynska