Following the recent launch of the Investment Accelerator, the Department for Business and Trade along with the Ukraine Ministry of Digital Transformation, Ukraine Startup Fund and 1991 Ventures have now selected 20 pre-seed and seed companies to take part in the ten-week programme. The Accelerator aims to help Ukrainian startups access British capital and establish their presence in the UK market.
During the shortlisting, judges prioritised startups from fintech, cybersecurity, health, energy and agri tech. The list includes
- Cardiomo – an AI-based wearable solution for long-term and remote heart monitoring;
- Medvoice – health tech company enables affordable continuous skills development for healthcare professionals through an online education platform;
- FlyAgData – an agri tech startup that provides farmers and large agro companies with valuable insights transformed and collected from agronomic and machine data from the equipment in the field;
- Deus Robotics – the startup automate warehouses with intelligent robots and develops an AI-powered logistics ecosystem linking manufacturers and clients;
- NeuCurrent – an AI and data-driven customer retention platform for small and midsize retailers.
While the Accelerator is centred around one-on-one mentorship, startups will also attend customised workshops on mastering market entry strategies and navigating international expansion as well as networking sessions with other innovators and industry leaders. Additionally, 1991 Ventures will introduce its own network to help connect startups with potential stakeholders and provide founders guidance on raising funds from UK-based investors.
As part of the programme’s finale, participants will attend a boot camp in London to have the chance to join lectures with experts and meet potential partners. Each founder will pitch their startup to investors at the Demo Day during London Tech Week.
Alan Mak, Minister for Industry and Economic Security at the Department for Business and Trade and Minister for the Investment Security Unit at the Cabinet Office said: “Since the beginning of Russia’s full-scale invasion of Ukraine, the UK has been steadfast in its support for our Ukrainian allies.
“Under the UK-Ukraine TechBridge programme, we are bringing together innovative UK and Ukrainian tech businesses to help Ukraine’s digital economy continue to flourish despite the impact of war. The Investment Accelerator pilot scheme is a key part of this offering mentorship, creating jobs and stimulating growth for Ukraine’s tech sector.”
“The key advantage of this Accelerator is the ability to tailor all the company’s activities to the British tech market. I strongly believe that the Investment Accelerator will become a powerful boost for the development and scaling of Ukrainian companies”, said Oleksandr Bornyakov, Deputy Minister of Digital Transformation of Ukraine.
“As 1991 Ventures has a presence in both Ukraine and the UK it is our mission to help Ukrainian startups scale in both of those markets as well as the whole international arena. Thus being aligned in our values and global strategy with the UK-Ukraine Tech Bridge, we are honoured to be joining the partnership and fulfilling our mutual goals”, added Denis Gursky, Founding Partner of 1991 Ventures.
The announcement follows the recent official launch of 1991 Ventures’ £15M fund, here in the UK, thus fulfilling the firm’s mission to support and empower Ukrainian startups in the international arena.
The Investment Accelerator is part of a wider strategic partnership, the UK-Ukraine Tech Bridge, initiated by the Department for Business and Trade along with the Ukraine Ministry of Digital Transformation and the Ukraine Ministry of Foreign Affairs. The initiative is built on four key pillars of innovation, skill, trade and investment, each consisting of relevant projects aimed at helping Ukrainian entrepreneurs tap into the UK market. Similarly, the programme will support British companies willing to establish their presence in Ukraine.
