K.Fund and BlackBox Capital to open Technology Companies’ Development Center in Kyiv
The project aims to provide priority support to product development hi-tech companies; investment is estimated at UAH 100 million
KYIV, September 27, 2016 — Vasyl Khmelnytsky’s K.Fund and ΒlackBox Capital will set up a Technology Companies’ Development Center (TCDC) in Kyiv, which will support small- and medium-sized hi-tech projects. TCDC residents will be able to take advantage of comprehensive infrastructure solutions, which have specifically been designed for the growth of technology companies’ business.
In particular, the advantage includes leasing modern office space with furniture and equipment in the capital of Ukraine at a rate of $5/m2, receiving up to 70% of the reimbursement of costs of training programs, as well as support in the field of strategic management, the search for new partners, consultations on how to enter foreign markets and raise investment and assistance from donors. Priority in the selection of future residents of the center will be given to product development high-tech companies.
“We would like to create a model that will help talented young people to develop themselves and reach their dreams. High technology is created by people, our task is to create necessary conditions for their development — the environment and knowledge. K.Fund is set to introduce infrastructure and education solutions into the project. Everything that is related to management in the technology sector will be implemented by BlackBox Capital’s team. This initiative may accelerate the development of the IT industry and the country as a whole,” Founder of K.Fund, entrepreneur Vasyl Khmelnytsky said.
“Most of IT companies in Ukraine utilize an outsourcing model, selling working hours of its employees and fulfilling tasks set by foreign customers. This limits Ukrainian entrepreneurs’ opportunities and slows the growth and development of technology companies in our country. The launch of the TCDC model in Ukraine enhances the likelihood that product development technology companies will appear here. Our success is the growth of residents’ business by at least 30% per year,” Partner of BlackBox Capital Yevhen Sarantsov said.
The TCDC will be located in a separate building with an area of about 3,500 m2 at 8 Simyi Khokhlovykh Street in Kyiv. Construction is under way at the site now, it is to be completed in December 2016. Investment in the project is estimated at UAH 100 million.
The TCDC will be operated by a managing company, an advisory board, the Juscutum law firm, inter-corporate IT university BIONIC University, two high-tech laboratories: VR Lab (Crytek) and Smart City lab. Kyiv-Mohyla Business School (kmbs) will be the center’s special educational partner, which has already developed a training program Be Tech. Client Focus Strategy. To become a TCDC resident, please fill in a form and take kmbs’ respective training course. K.Fund will refund 70% of the tuition fees.
More information about TCDC’s project is available here.
Further questions about the TCDC could be addressed to Project Director Iryna Ietskalo: firstname.lastname@example.org
K.Fund was founded by Ukrainian entrepreneur Vasyl Khmelnytsky in 2015 to support education and economics projects. K.Fund’s mission is to provide keys for development and self-fulfillment, open opportunities for new knowledge and skills, and give assistance to finds and ensure their promotion to a new level. K.Fund opens the way to dreams -> kfund.ua
Vasyl Khmelnytsky is First Vice President of the Ukrainian League of Industrialists and Entrepreneurs (ULIE), founder of K.Fund. He invests in the development of various businesses, giving preference to cooperation and co-management. The social initiatives supported by the businessman include Kyiv International Economic Forum (KIEF); projects of the Osvitoria Social Organization: a modern secondary school Novopecherska School in Kyiv and iLearn online platform for orphans and children from needy families; a master’s level program in public administration at the National University of Kyiv-Mohyla Academy, the first inter-corporate IT university BIONIC University (the first of its kind in Ukraine), publishing project Khmelnytsky’s Library, a unique educational IT factory UNIT Factory. More details could be found here.
BlackBox Capital has been creating new business models in the segment of IT and digital commercial communications with Ukrainian companies since 2014. Its founder, Yevhen Sarantsov, believes that successful technological innovations must be born in the heart of large corporations, solving an existing internal problem. If a problem can be solved in a real-life environment, this means that such a solution has great potential for success. The model of creating BlackBox Capital’s successful innovative products is the result of routine interaction between corporations and small-sized innovative businesses.
Yevhen Sarantsov is co-founder of tradehub.ua, blackbox.ua. An MBF program graduate and an invited speaker of kmbs’ School of Global Markets. He created a Ukrainian electronic trading platform, zakupki-online.com. During one year and a half, the monthly turnover of zakupki-online.com was estimated at more than UAH 50 million, and in May 2015, it became a part of an electronic trading platform zakupki.prom.ua. Yevhen Sarantsov spent more than five years on the creation, marketing and development of national brands “Khlibnyi dar” and “Istynna”. He is experienced in the development of go-to-market strategies and the launch of brand-new products, comprehensive strategies for development and reorganization of companies in constantly changing environments. He is a mentor and expert in such business incubators as 1991, EGap.