UKRAINE: Ukrainian tech start-up Polyteda Cloud won a EUR 1.2 million funding from Horizon 2020

The EU is investing into the 2-year project “Innovative Cloud-Based PV Workflow for Semiconductor Foundries” to enable Polymeda Cloud enter the European market. Its software for circuit verification checks the designs of microchips for mistakes before they go for manufacture at semiconductor factories. Polyteda Cloud is a spinoff project of Polyteda Ukraine, a company that is itself part of the high-tech holding KM Core. Majority of its staff are graduates of the renowned National Technical University of Ukraine.

The Horizon 2020 programme aims to secure Europe’s global competitiveness by funding innovations, in particular by supporting SMEs. The budget for a single company ranges from 500,000 euros to 2.5 million euros; or up to 5 million euros for health-related projects. The EU will also provide the company with business coaching.

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