The winners of the “Do Your Business” idea competition have been announced. 80 winning projects were chosen from among 616 applications from 15 regions of Ukraine
The grant recipients included veterans and their family members, internally displaced persons (IDPs), and owners of relocated businesses. The winners included businesses manufacturing handmade toys and artisan cheeses, developing greenhouse farming and shock freezing of berries, processing beekeeping products and promoting ecotourism, providing aesthetic medical services, and breeding crayfish. Some of these projects are being expanded, while others are being launched from scratch. About UAH 10 million will be allocated to implement all business ideas. One grant totals up to UAH 100,000.
“The real phenomenon of this competition is its support for people striving to kickstart businesses affected by the war or launch a start-up given current crisis conditions. Therefore, apart from financial support, the competition winners will get additional opportunities from the Foundation: training, exchange of best practices, and access to the All-Ukrainian professional business community. Therefore, winners of the previous competitions are invited to important forums and conferences, where we share our expertise; and help attract additional financing, and where our major business partners or peer foundations offer additional opportunities. We are shaping our sustainable ecosystem to develop local business in Ukraine,” comments Tetiana Volochai, Director of the “MHP-Gromadi” Charitable Foundation.
This year, one of the competition conditions required 100% co-financing by the applicant. It means that for the UAH 100,000 granted the winner should invest another UAH 100,000 in their business. Hence the entrepreneurs will prove they believe in their projects and are ready to invest in them.
“Ukrainian and foreign foundations, major businesses, and donors offer several grants every month. However, according to some surveys, a third of small entrepreneurs are not aware of ways to find financing for their businesses. That is why we annually train and show the way for local daredevils to run their businesses. Furthermore, we continue our support even after the grant funds have been allocated. SME growth in Ukraine means the development of communities and individuals who are prepared to expand their business and take responsibility for them,” Volodymyr Panchenko, National Projects Manager of the MHP-Gromadi Charitable Foundation.
This year, the expert council team included Yuriy Hladkyy, founder and CEO of the Grape brand marketing agency; Serhiy Pozniak, financial and investment expert with 20 years of experience, head of the Association of ATO Veteran Entrepreneurs; Dmytro Zozulia, deputy chairman of the investment activities board, MHP. They thoroughly analyzed business ideas and evaluated them in terms of viability, innovation, and scalability.
Yuriy Hladkyy: “I’ve noticed that not all local entrepreneurs know how to capitalize on added value. A handful of entrepreneurs think in terms of brands and marketing needs, even though they have all the pre-requisites for success—from geographical location to a truly innovative idea. Nowadays, the “remake and resell” recipe does not work. Therefore, as a marketing professional, I sought out projects presenting added value for the company, the community, and Ukraine. The ones that can be turned into a major story. And by supporting such a story, we could proudly add the “Made in Ukraine” label.
Serhiy Pozniak: “I am happy to salute members of veterans’ families and veteran entrepreneurs fighting at the front line who have become the winners. All those men and women who are at war and have left their businesses should count on support upon their return. It should be noted that such projects received the highest ratings mostly. This demonstrates that our soldiers are not only effective on the front line but also the driving force of the economy and recovery of our Ukraine.”
Dmytro Zozulia: “MHP is constantly in the making, the company has been actively transforming for several years in a row. Along this journey, we have already gained a wealth of experience that we are eager to share. All the projects within the “Do Your Business” competition were noted by the MHP investment department. Those who achieve success will be eligible for both additional funding from the company and expert support on their way to further growth. We are interested in creating a powerful business ecosystem around us. The more successful people there are in the country, the more successful Ukraine will be.”
During more than 2 years of the major war, almost 2 million new IEs and more than a million companies were established in Ukraine. That being said, the number of newly established companies is 5 times higher than that of the same ceasing their activities. The organizers of the “Do Your Business” idea competition believe that such events will boost the positive dynamics of these statistics.