In a strategic move to support Ukraine’s innovation ecosystem amid the ongoing Russian invasion, the Czech Ministry of Industry and Trade has unveiled a €12 million «fund of funds» dedicated to Ukrainian startups. The announcement was made by Deputy Minister Jan Kavalírek at the Invest in Bravery conference in Kyiv, as reported by The Recursive.

• The initiative will see the Czech government acting as a limited partner by investing in selected venture capital firms alongside private investors. With a total budget of €12 million (CZK 300 million) allocated over the next five years, the fund is designed to boost entrepreneurial resilience and foster cross-border collaboration.
• To qualify for investment, startups must establish a legal presence in the Czech Republic and generate measurable economic value for the country. Additionally, at least 20% of the capital invested must be spent within Czech borders, according to Vector.
• This fund is part of the Czech government’s broader Ukraine Program, aimed at driving post-war recovery through innovation and economic revitalization. The program is managed by the National Development Investment (NDI) agency, a state entity responsible for administering public investment projects.