The European Union, the Government of Denmark, and the United Nations Development Programme (UNDP), together with the BOOST Impact Acceleration Programme team, have launched the Innovation Challenge, an acceleration programme for Ukraine, part of the wider Mayors for Economic Growth (M4EG) initiative. The programme is aimed at strengthening the economies of the cities of Mykolaiv and Ternopil.
Twelve teams representing micro, small, and medium-sized enterprises with innovative ideas in the “blue” or “green” economy were selected to participate in the programme. Among them are manufacturers of electric trucks, small vessels, moulds, irrigation systems, refrigeration equipment, and many others.
All programme participants will receive mentoring support, business acceleration assistance, networking opportunities, and funding of up to US$10,000 to help them realise their innovative ideas.
For example, Eleek LLC, the first Ukrainian manufacturer of electric bicycles, is participating in the Innovation Challenge with the idea of creating the first electric bike rental business in Ternopil, which will allow local residents and tourists to move faster, more conveniently, and in a more environmentally friendly way.
Meanwhile, a research and production enterprise, ‘AMICO DIGITAL’, that designs, develops, manufactures, and supports equipment, systems, and components for metering liquids, oil products, and liquefied gases, aims to gain the knowledge and resources to rebuild its business so that it can continue to innovate and manufacture measuring devices for Ukraine’s coastal infrastructure.
The EU-UNDP Mayors for Economic Growth (M4EG) Facility supports local governments in the Eastern Partnership countries (Armenia, Azerbaijan, Georgia, Moldova, and Ukraine) on their path to inclusive economic growth. The initiative offers resources, a network, and educational opportunities to explore new growth trajectories, improve living standards and employment, and ensure citizen participation in economic, social, and cultural processes at the local level.
