In recent months, Ukraine has been preparing for the launch of several accelerators and funds focused on military tech. In cooperation with the ministries, they are creating a framework that will cover the entire path from stimulation and financing of startups to fast tracking everything related to the bureaucracy. As AIN.Capital learned, among others, preparations are underway for the accelerator called D3, which stands for Dare to Defend Democracy.
The accelerator will work in several directions:
- investments in early stage startups,
- acceleration,
- mentoring.
As part of the acceleration, D3 will also provide $125,000 to projects with the possibility of additional funding later in time.
The volume of the fund started with $10 million, and now it is more than $30 million. According to AIN.Capital, Eric Schmidt, the former CEO of Google, is among those who is financing D3.
In September 2022, Schmidt visited Ukraine and had a meeting with the Minister of Defense Oleksiy Reznikov and the Chairman of the Presidential Office Andriy Yermak. Eric Schmidt himself previously worked with the US Department of Defense on innovation and is currently a consultant to the US government on artificial intelligence.
According to the SCMP, in September 2022, after a 36-hour visit to Ukraine, Schmidt said that the civil technology sector is critical to Kyiv’s defense. Also in February 2023, Schmidt told Wired about his portfolio company Ishtari, which develops AI solutions for military purposes.
The accelerator’s activities will be overseen by Eveline Buchatskiy, who, according to information from open sources, lived in the USA and Brazil, but is of Ukrainian origin. Her track record includes Eastlabs, TA Ventures, and TechStars. Her LinkedIn already lists a new position at D3, which she appears to combine with a position as VP of Special Projects at AirSlate. To confirm the information, the AIN.Capital editorial staff asked the accelerator, but Eveline Buchatskiy refused to comment.
The accelerator is entirely focused on military-related startups, although the directions of the projects may be different. From what AIN.Capital knows, D3 will invest in AI solutions for intelligence, cybersecurity, and military tech, namely UAVs, EW, communications, navigation, and precision munitions technologies.
Representatives of the accelerator promise that they will work in close cooperation with the Armed Forces of Ukraine. To apply, please write to: [email protected].
