This document discusses the development of financial schemes and infrastructure to support innovation in Ukraine. It outlines 10 seed and venture capital funds that have invested in Ukrainian startups since 2005. It also describes business incubators, angel investor groups, startup competitions, and organizations that support the ecosystem such as the Seed Forum. The role of the Ukrainian government is discussed, including recommendations to establish a fund of funds to invest in venture capital and develop intellectual property laws.

1. Development of financial schemes and infrastructure to support innovation in Ukraine
The European Union’s Neighbourhood Programme
Development of financial schemes and infrastructure to support
innovation in Ukraine
Seed investments in Ukraine 2005-2010
This project is funded by A project implemented by
the European Union Louis Berger SAS in consortium with Innova
Europe, Aria Consult and Finlombarda

2. Development of financial schemes and infrastructure to support innovation in Ukraine
Seed Fund in SME Finance environment
Risk Capital Phase Venture Finance Phase Loan Finance Phase
(Component 1) (Component 2) (Component 3)
• Seed Finance
• Business Angels Public Stock Markets:
• Cross-Investments
IPO’s & VC exits
• Microfinance
• Round Table • SME Loan
• High Growth of Banks/SMEs Guarantees
Innovative SME
Scheme (GIF) Bank Loans & Guarantees
Profitability
Formal Venture Capital Funds
Seed & Early Stage VCFs
Business Angels
 Supporting Policies
Entrepreneurs, Family + Friends  Financial Instruments
SME
Development
Stage: Pre-seed Seed Start-up phase Emerging growth
High Risk Low
“Valley of Death”
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3. Development of financial schemes and infrastructure to support innovation in Ukraine
Mapping of:
Seed Funds
Business Angels
Supporting Infrastructure
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4. Development of financial schemes and infrastructure to support innovation in Ukraine
Seed and venture investments in Ukraine 2005-2010
1. Kvazar-Micro (KM-Core)
2. AVentures Capital Fund
3. TechInvest
4. ТехноМост (TechnoBridge)
5. ABRT Venture Fund
6. Ukrainian Vivex Invest LLC
7. eVenture Capital Partners
8. AddVenture
9. IDE Group
10. P&S Asset Management Ukraine
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5. Development of financial schemes and infrastructure to support innovation in Ukraine
Kvazar-Micro, 1990/KM Core, 2010
Info-communicative technologies, Microelectronics,
Ecological and energy-saving technologies
KM Techno, КМ Ware – software for agriculture, Evgeni Utkin,
health protection, municipal services, President
the building industry, transport and others www.kmcore.com
De Novo - IT services and solutions for banks and companies, datacentre
services
Infogin - Internet solutions with the help of mobile phones
CeLight - research, development and sales of advanced opto-electronic
sub-systems, algorithms and architectures to deliver cutting edge products
and services for its system partners and end-customers.
The Institute of the Newest Technologies in Education (INTE) -
modern facilities for learning about automation and the introduction of
interactive teaching methods
NSOF Connect - mobile commerce and business intelligence platform
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6. Development of financial schemes and infrastructure to support innovation in Ukraine
AVentures Capital Fund, 1994
IT, Telecom, Internet, clean tech, real estate
companies – total more than $1bln
Unitrade -national consumer electronics retail chain
City.com - national chain of consumer electronics hypermarkets
Melofon - retail chain of mobile electronics
Universal Telecom - fixed-line telecom operator Andriy Kolodyuk,
United Software Corporation - IT company founder and
Softpress - publishing house Chairman of the board
Inetgrid - clean energy joint venture company
Trend, New City Development - commercial real estate
http://www.aventurescapital.com
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7. Development of financial schemes and infrastructure to support innovation in Ukraine
TechInvest , 2004
High Tech, IT, Telecom, Internet companies
APower Cap Technologies- nanotechnology company,
main project of ROSNANO in Ukraine
Security of informational telecommunications systems
-developing and testing IT security soft/hardware tools Serhiy Loboyko,
founder
Financial Algorithmics - decision support and Chairman of the board
tools for traders on FOREX
http://techinvest.com.ua
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8. Development of financial schemes and infrastructure to support innovation in Ukraine
TechnoBridge, 2006
ІТ & Telecommunications
- Investments amount: no disclosure
Viewdle - Facial recognition startup
Maxim Shkolnik
IdeasPlanet - domain, web-sites services
Address.UA - property search tool
www.ideasplanet.org
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9. Development of financial schemes and infrastructure to support innovation in Ukraine
ABRT Venture Fund
Software, internet and technology
Acronis - data storage management products
InvisibleCRM - a complete natural workspace
Ratmir Timashev,
Drimmi - games for social networks President and CEO
Quintura.com - search engine that helps visually find
web pages, images and video content.
Veeam Software - virtual infrastructure management, innovative
systems management software
http://abrtfund.com
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10. Development of financial schemes and infrastructure to support innovation in Ukraine
Ukrainian Vivex Invest LLC, 2007
IT, Internet, new technologies, payments,
distribution systems and media
Global Projects - Online projects development
Seepla.net - Tourism portal
Thousands online trips and descriptions with pictures
Mapia.com.ua - Ukrainian map business directories
Access to a unique database of information about business in
Kiev. Adam Wojacki,
Kopeikoff - fascinating Internet-auction platform founder & CEO
- A person, whose bid will be the last during a specified
auction time, has the right to buy the product for a price
significantly lower than market price.
http://www.vivex.pl
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11. Development of financial schemes and infrastructure to support innovation in Ukraine
BV Capital and eVenture Capital Partners, 1995
Internet focused early stage venture capital firm
General Partners:
Myfab.com- e-commerce on demand Thomas Gieselmann
Andreas Haug
Kauf.da - online local circulars Christian Leybold
Experteer.de – recruitment platform Mathias Schilling
More.tv - digital TV solutions
Sapato.ru – on-line shoe store
Address.ua - Ukrainian realty platform
www.evcpartners.com
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12. Development of financial schemes and infrastructure to support innovation in Ukraine
Investing fund IDE Capital, 2006
Digital communities, media services,
telecoms and e-tail businesses
Employs over 150 people in Edinburgh, London,
Dnepropetrovsk and Zaporizhzhya
Sravni.com - online comparison shopping business
Bill Dobbie,
Trud.ua - job and personnel search CEO
GDE.ua fast tool for comparison selection of bank products
http://www.idecapital.co.uk
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13. Development of financial schemes and infrastructure to support innovation in Ukraine
AddVenture, 2008
IT start-ups
Wi2Geo interactive hybrid navigation system that
combines WiFi, WiMax, GPS and GSM methods
Roomix.ru innovative home goods catalogue with a
built-in online 3D room planner. You can create your
own virtual room
Toolwi.com innovation widget platform. You can
create a widget (or Muzicon) to host on your blog or
social network
Kinokrug.ru combines professional social network
and a bunch of useful services
http://www.addventure.to
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14. Development of financial schemes and infrastructure to support innovation in Ukraine
P&S CAPITAL , 2006
Marketing, PR, advertising, Internet
Industria Komunikatsiy
- local marketing and advertising holding:
Kaffeine Communications – full-service advertising
Dean Mikolič
IIII Rim – PR agency Founder,
Managing Director
Kensu Interactive – web and multimedia agency
Lead9 – mobile and interactive marketing agency
Krugom Media – media agency
http://www.p-s.com/ua/equity
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15. Development of financial schemes and infrastructure to support innovation in Ukraine
TA Venture Fund, 2010
B2C Internet startups in Ukraine
and Eastern Europe
Victoria Tigipko,
Intends to raise $20mln to a portfolio of 25 projects: Director*
10 projects at an early stage with $50th - $500th and
15 projects at level «Series-A» at $500th - $2mln
http://www.taventure.com
*General Partner at GrowthUP Incubator, organizer IDCEE 2010
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16. Development of financial schemes and infrastructure to support innovation in Ukraine
Donors Supporting Programs
World Bank infoDev program
www.infodev.org
SeedCamp – trainings and micro-
financing for start-ups
http://seedcamp.com
USAID/LINC - Local Investment and National
Competitiveness Project Investment Project Search
http://linc.com.ua
“Soros Fund” to Ukraine (Anti-crisis
Humanitarian Program for CEE countries
SMEs): up to $25mln
www.irf.ua
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17. Development of financial schemes and infrastructure to support innovation in Ukraine
The Association of Private Investors of Ukraine, Kiev
Member of
European Business Angel Network (EBAN)
Igor Vlasyuk,
Founder
• Monthly meetings of Investors Club
• Trainings for members
• Catalogues of Investment proposals
• Abroad missions Serhiy Desyak,
UABAN President,
• Legislation lobbying Director of Euroconsulting
http://www.uaban.org
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18. Development of financial schemes and infrastructure to support innovation in Ukraine
Ukrainian Association of Private high-tech investors, Lviv
Help to business angels
- Information about investment opportunities
- Information about venture capital market
- Support in searching and negotiating
Rostyslav Chayka,
founder, business angel,
founder of Lviv Startup Club.
http://htban.org
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19. Development of financial schemes and infrastructure to support innovation in Ukraine
Incubators
Center for Innovations Development, Kyiv
est. in 1998 by the International Management Institute
Kharkov Technologies
Center of Small Business Development
http://www.kt.kharkov.ua
Incubator «GrowthUP», Kiev
http://www.growthup.com
Incubator “Startuplab”, Kharkiv,
http://startuplab.com.ua
Incubator “LvivStartupClab”
http://startup.lviv.ua
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20. Development of financial schemes and infrastructure to support innovation in Ukraine
Seed Forum in Ukraine - since 2006
+ the Ukrainian Chamber of Commerce
and Industry
Olena Podoleva, Steinar Korsmo,
Vice-President President & CEO
www.ucci.org.ua
http://www.seedforum.org
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21. Development of financial schemes and infrastructure to support innovation in Ukraine
Start-ups Contests
“Innovative breakthrough” 2009-2010
…Lviv, Kyiv, Kherson, Kharkiv, Dnipropetrovsk…
Alexander Kardakov
http://www.ukrinnovation.com
IDCEE 2010 in Kyiv
150 applications  3 best startups 
 IDCEE main stage on October 29
http://idcee.eu
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22. Development of financial schemes and infrastructure to support innovation in Ukraine
- Potential role of Government in
Development of Seed Investments ?
1. Support: Fly and Scale, Moral, PR, Power, Taxes, Co-financing
2. Law to give to state Academy institutions power to deal with its
Intellectual Property Rights (as Bayh-Dole Act)
3. To allow joint ventures between state scientific institutions and
private companies
4. To establish Fund of Funds to invest up to 49% to Venture
Capital funds in Ukraine
5. To develop corporate governance legislation, design new
instruments, as “restricted stock”, “tag along”, “drag
along”, ”reverse vesting” and others
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23. Development of financial schemes and infrastructure to support innovation in Ukraine
Many thanks for your attention!
Our team is committed to a high level of co-operation and we
looking forward to deliver jointly on Ukraine’s expectations on
innovation support!
A project implemented by
Louis Berger SAS in consortium with Innova
Europe, Aria Consult and Finlombarda
10/11/2010 Louis Berger SAS Consortium Page 23