The $1 million grant program “CREATE!” from the Ministry of Economy of Ukraine, Ukraine-Moldova American Enterprise Fund, and KSE Foundation, with the compliance support of Oschadbank JSC and expert assessment by KSE Graduate Business School, announces new winners. The project aims to help Ukrainian women in manufacturing scale their businesses.
Yelyzaveta Knyzhenko is a co-owner of the Dukachi jewelry brand based in Kyiv. The entrepreneur was honored with the Forbes Ukraine 30 Under 30 award this year. Dukachi produces silver and gold jewelry, including Motanka dolls, which have become recognizable around the world.
The winner will use the grant money to purchase a laser welding machine. It will help to speed up production time and increase the jewelry volume produced.
“My business dream is to establish Dukachi as one of the top jewelry brands. High quality and a unique design with a touch of Ukrainian culture are what I want to showcase to the world at international jewelry exhibitions,” Yelyzaveta shares her plans.
Olha Dragel owns EliTerm, a manufacturer of designer radiators in Kharkiv. The grantee’s team produces steel radiators for various heating systems.
The entrepreneur will purchase a semi-automatic circular saw, a reciprocating compressor, and a drilling and milling machine with the grant funds. With the help of the equipment, the winner will increase production volumes and expand her product range.
“Running your own business is an opportunity to create a great product for consumers, and there is a need to learn, set ambitious goals, and achieve them constantly. It is a choice to be independent and build your career,” says Olga.
Daria Korniichuk owns Aroma Fields, an essential oils production company based in Kyiv. The entrepreneur’s business is a craft production of authentic essential oils and hydrolates of premium quality.
The winner will invest the grant funds to increase production capacity and purchase distillation equipment.
“Entrepreneurship is when you fall often and painfully, but each time, you rise to a higher level than you were before. This is the only way to develop yourself and your business,” says Daria.
Liudmyla Maksymets co-founded SUNFILL, a healthy sweets company based in Chernihiv. The entrepreneur’s company produces healthy and tasty snacks: fruit, sweets, bars, granola, bread, and snacks.
The winner will use the grant to purchase additional equipment and machinery to improve safety at work and help scale her business.
“My dream is not only to provide consumers with natural and healthy products but also to create an environment where every employee can develop, feel part of the team, and be proud of their work,” says Liudmyla.
Inna Medvedchuk is a co-founder of Odisy Furniture Studio in Kyiv. The winner produces cabinet furniture for individual projects: homes, offices, shops, cafes, and educational institutions.
The grantee will use the funds to purchase a machine automatically cutting boards and software. This will help increase production volumes and speed up the fulfillment process for orders.
“Entrepreneurship is a favorite work that brings me income and pleasure. I invest my money and soul in my business because I believe this is the only way to succeed,” says Inna.
According to the program’s results, the organizing committee received over a thousand applications from Ukrainian businesswomen. The names of the following will be announced gradually.
The Ukraine-Moldova American Enterprise Fund (UMAEF, formerly Western NIS Enterprise Fund) invests in funds for the implementation of the grant program. The fund supports initiatives to promote reforms in Ukraine and transformative projects.