The Fund Global Technology Foundation has given first grants to three Startups

The granting committee of the Ukrainian Fund Global Technology Foundation (GTF) has given by $30K to first three startups - Pics.io, uGift and Gutenbergz. Totally there have been selected 10 projects for taking part in the final. By the end of September the Fund will execute applications filing within the limits of the second round. Owners of such grants in results of the second selective cycle will be announced in the beginning of October.

“Owners of grants will receive not only money, but also mentor assistance, access to useful contacts and specialists of global class, which are owned by founders of GTF”, - said Viktoria Tigipko, a member of supervisory committee of the Global technology Foundation, and managing director of the Venture Fund TA Venture. Besides, according to her, the Fund has significantly simplified conditions of cooperation with Startups – GTF will not limit participants of the granting program, if in the period of a granting agreement validation they want to attract other investment from non-founders of the Fund.

According to the president of the GTF Fund Aleksey Anikin, the level of finalists is high enough, however the whole situation on the market of Ukrainian Startups is still not very optimistic: most part of 180 applications, which have been filed in the Fund within the limits of the selection cycle, has been directed for rework.

“For us this is not a disappointment, but a challenge: we see great potential of the market, and our task is to help to become known, I hope that histories of today’s` winners will become a good motivation for those who only dreams of creating its own technology company”, - noted Aleksey Anikin.

The granting program of the Fund GTF will continue during 6 months, after which the Startup will have to provide the Fund with a report on its activity and application of granting financing – these are the rules of GTF.