A working meeting was held in Zhytomyr with representatives of higher education institutions and the business community of the Zhytomyr territorial community to discuss mechanisms for organizing and holding business idea competitions.

Representatives of Polissya National University, Zhytomyr Polytechnic State University, and IT Space Ukraine shared their experience in supporting startup development.

First, the Zhytomyr team, with the support of experts, will develop a methodology for holding such competitions. Next, they will recruit participants and hold the competition itself.

The winners will receive expert support in writing business plans, developing investment strategies, etc. The main winner will automatically qualify for the finals of the Sikorsky Challenge Festival of Innovative Projects to be held in October 2023.

“Today, innovations should be the basis for the restoration and modernization of communities. That is why it is important for Zhytomyr to receive expert support in the implementation of such measures. We are grateful to the EU4Business: SME Recovery, Competitiveness and Internationalization Programme for such opportunities, and we thank our higher education institutions and the business community for their active involvement,” says Svitlana Olshanska, First Deputy Mayor.

The project is being implemented by Sikorsky Challenge Innovation Holding within the framework of the EU4Business: SME Recovery, Competitiveness and Internationalization Programme, co-funded by the European Union and the German Government and implemented by the German federal company Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.

The program aims to support Ukraine’s economic sustainability, recovery and growth, create better conditions for the development of Ukrainian small and medium-sized enterprises (SMEs), and support innovation and exports.

EU4Business is an initiative of the European Union that helps small and medium-sized enterprises in the Eastern Partnership countries. Read more: www.eu4business.org.ua