UCORD Joins Forces with the Entrepreneurship Development Fund

The UCORD project is launching cooperation with the Entrepreneurship Development Fund (EDF)—the parties have signed a Partnership Memorandum, opening new opportunities to support creative businesses in Ukraine.

The foundation of the cooperation is the joint implementation of development programs, particularly the grant component of the “Greenhouse of Ideas” program, aimed at supporting start-up entrepreneurs in the creative industries sector. The program is being implemented in six pilot regions of the UCORD project: Vinnytsia, Khmelnytskyi, Ternopil, Sumy, Volyn, and Odesa oblasts.

Recently, within the “Greenhouse of Ideas” program, the expert evaluation stage of submitted applications was completed. Based on its results, business ideas were shortlisted and recommended for the next stage—due diligence of applicants. The total program budget is UAH 18.4 million.

The next step will be verification of the shortlisted applicants for compliance with financial, legal, and professional integrity requirements. After successfully passing this stage, the selected applicants will be recommended for funding and signing of grant agreements. In the near future, the UCORD project, together with its implementation partner—the Entrepreneurship Development Fund—will contact the applicants whose applications made the shortlist to coordinate further steps.

The Entrepreneurship Development Fund (EDF) is a state financial institution whose mission is to support financing of micro, small, and medium-sized enterprises (MSMEs) in Ukraine on accessible terms. The EDF provides entrepreneurs with access to financial resources, support services, and program assistance, contributing to private sector growth, job creation, and increased competitiveness of Ukraine’s economy.

Within the program, the EDF acts as a financial operator, ensuring the disbursement of grant funds to winners through authorized banks. This approach guarantees transparency and accountability in the use of funds, as well as full compliance with international financial management standards.

The Fund’s participation in the “Greenhouse of Ideas” program enables the implementation of best practices in micro-business support and creates an effective bridge between donors and creative entrepreneurs, establishing conditions for sustainable development of the creative economy in the regions and long-term economic and social impact.

We remind you that the Regional Development Agency in Ternopil Oblast receives institutional support from the Swiss-Ukrainian project “Cohesion and Regional Development of Ukraine,” UCORD. The project is implemented with the support of Switzerland through the Swiss Agency for Development and Cooperation (Swiss Development & Cooperation) by NIRAS Sweden AB.