Empowering Female Entrepreneurs: $1,000,000 Awarded to 65 Winners of the ‘CREATE!’ Grant Program

The “CREATE!” grants for business development in manufacturing and processing have been awarded to 65 Ukrainian women — founders, leaders, and owners of small and medium-sized enterprises. The winners used the funds to scale their businesses: entering new markets, expanding product lines, automating production processes, and improving product quality.

The “CREATE!” grant program was initiated by the Ministry of Economy of Ukraine with financial support from UMAEF and is implemented by the KSE Foundation with compliance support from Oschadbank and expert evaluation from the KSE Graduate Business School. With a budget of $1,000,000, the initiative aims to scale and develop women-led manufacturing businesses and will continue with a second phase in 2025.

Among the winners are Natalia Kushnir, head of a family dairy farm; Oksana Bortnyk, owner of a paving stone production business; Natalia Zavhorodnia, director of a foundry-mechanical plant in Pokrovsk; Kateryna Zakharchuk, owner of a clothing and gear manufacturing business for the military, Yulia Kliuchkovska, founder of a maternity and nursing wear brand and 60 other Ukrainian women. The complete list of winners is available [here].

Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine: “Today, the role of women in the Ukrainian economy is changing. More and more women entrepreneurs are taking on leadership roles and starting their businesses. For example, last year, women founded 56% of businesses in Ukraine; this year, the figure has grown to 59%. They are mastering new professions that were previously statistically male-dominated. The ‘CREATE!’ program results have demonstrated women entrepreneurs’ readiness, capability, and business ambitions to participate in shaping Ukraine’s economy.”

The program began in April 2024 and received over 1,000 applications from women entrepreneurs across Ukraine. The selection prioritized businesses with significant growth potential, export opportunities, and import substitution capabilities.

Tetyana Berezhna, Deputy Minister of Economy of Ukraine, remarked:
“Each application was an incredible source of inspiration for us. Reading them, we were further convinced of the talent, strength, and resilience of Ukrainian women entrepreneurs who continue to work, create, and scale their businesses despite the war.”

The “CREATE!” program supported businesses across a wide range of manufacturing sectors: 26% in the food industry, 15% in light industry (including clothing production), 11% in furniture manufacturing, 8% in décor production, 5% in jewelry manufacturing, 3% in cosmetics production, 3% in building materials manufacturing and 29% in other industries.

Jaroslawa Z. Johnson, President and CEO of UMAEF, added:
“The program winners exemplify the strength, creativity, and perseverance of Ukrainian women who, despite all challenges, continue to create, develop, and inspire. The ‘CREATE!’ program was established precisely to support them on this path, and we are proud to be part of such an initiative.”

Grants of up to $15,000 allowed entrepreneurs to purchase essential equipment, including laser and milling machines, sewing and embroidery machines, refrigeration systems, and specialized tools. Each piece of equipment had a clear plan for increasing efficiency, scaling production, and entering international markets.

Svitlana Denysenko, Director of the KSE Foundation, commented:
“This initiative allowed us to create a community of like-minded women, where each participant feels supported on her journey to scaling her life’s work. Seeing the development plans of each winner, we understand that we are witnessing a new generation of women entrepreneurs who can make their mark in Ukraine and globally.”

A significant portion of the supported businesses were launched during the war. The grant funding enabled winners to take their businesses to the next level, overcome wartime challenges, and relocate production from frontline areas.

The second phase of the “CREATE!” grant initiative has already been announced and will begin in 2025.

About the program:

The “CREATE!” grant program was initiated by the Ministry of Economy of Ukraine with financial support from UMAEF and implemented by the KSE Foundation in partnership with Oschadbank.

The program is funded by the Ukraine-Moldova American Enterprise Fund (UMAEF).