Charity project “Borsch Foundation” will finance start-ups to create technologies for military needs – businessmen

3/26/2015

In Kyiv, March 26, 2015 Ukrainian businessmen, representatives of High-Tech-Industry, launched a charity project “Borsch Foundation” (www.borsch.org.ua) to fund the creation of dual-use technologies (that can be used in military and civil areas). The grant for one project (startup) can reach 1 million UAH.

“First of all it is about supporting local development and research activities aimed at creating technology to support the defense and security of the country” – said during the presentation of the project in the Ukrainian crisis media center Evgeni Utkin, the initiator of the Network cluster of high technology and grant fund “Borsch Foundation”.

Support by the fund of one project can range from 50,000 to 1 million UAH. Applicants must meet several criteria. Among other things, there must be innovative component, and a team of at least two people to realize startup. “Now we can consider not only legally formalized startups, but even teams of associates that have still only an idea, though not legally formalized.

No business plans. Similarly, we do not care whether these people have profile education or about their age, you can not even imagine how many innovative developments there are by those who have not yet reached the age of majority “, – said Ilya Kenigshtein, managing partner of grand fund “Borsch Foundation”. Besides money, startups also will be provided with room for the organization of work and expert support.

For his part, Ihor Kabanenko, president of UA.RPA, in the past – Deputy Defence Minister of Ukraine noted that Ukraine has several successful projects to create technologies that are already in military service. “If we want to win the war, we can achieve it only on condition of technological superiority over the enemy. In view of the potential that we see in those projects [by Ukrainian developers – approx. UCMC] that are currently available, that are breakthrough that can rightly be called Ukrainian know-how, we can not only increase the country’s defense, but also create opportunities for innovative development in many sectors of economy “, – says Ihor Kabanenko.

Bohdan Kupych, member of the supervisory board of Ukrainian Venture Capital Association (UVCA), who is also the representative of the Ukrainian diaspora in Canada, said that support for innovation will allow Ukraine to solve many problems. “We believe that we can prepare a global “borsch”, because we have all the ingredients in Ukraine in order to increase the country’s defense and to create new wealth”, – concluded Bohdan Kupych.

The post has been taken from the source http://uacrisis.org/ua/21391-blagodijnij-proekt-borshh-foundation