VARTO: Business with Character

• The grant competition is open to veteran-owned businesses, including:
  • war veterans registered as sole proprietors;
  • veterans engaged in independent professional activities;
  • legal entities owned or ultimately controlled by war veterans.
• Legal entities must be registered in accordance with Ukrainian legislation and comply with the Law of Ukraine “On Veteran Entrepreneurship.”
• Foreign nationals and stateless persons legally residing in Ukraine may also participate if they have obtained the status of a veteran business entity under Ukrainian law.

The following entities are not eligible:

• entities undergoing bankruptcy proceedings;
• entities in the process of termination or liquidation;
• applicants with overdue tax liabilities;
• organizations subject to sanctions or restrictive measures;
• entities connected to the aggressor state or operating in temporarily occupied territories or active combat zones;
• businesses involved in weapons, alcohol, tobacco, or currency exchange activities;
• applicants involved in court proceedings or corruption-related offenses.
• Applicants are also excluded if they:
  • violated previous grant agreements;
  • previously received similar grants from the Fund and failed to comply with the established restrictions;
  • are listed in the Unified Register of Debtors.
• The program additionally specifies that beneficiaries who already received grants under this direction may reapply only after fulfilling the conditions and time requirements related to previous grant support.

• The minimum grant amount is UAH 500,000, while the maximum grant amount is UAH 1,500,000.
• Rental expenses financed by the Fund may not exceed UAH 100,000. Costs related to materials and repair works in rented premises are limited to UAH 200,000.
• The grant funding is transferred to a separate bank account opened specifically for project implementation by the selected beneficiary.
• Funding is provided in instalments according to the approved project budget. The first tranche may amount to up to 30% of the total grant amount, or up to 60% in cases involving equipment procurement.
• Each subsequent payment is transferred only after approval of reports for the previous implementation stage.
• Any unused grant funds must be returned to the Fund before approval of the final report.

Eligible costs include:

• expenses directly related to project implementation;
• procurement of equipment;
• rental expenses within the established limits;
• materials and repair works necessary for the project.

Ineligible costs include:

• salaries and payroll-related expenses;
• expenses unrelated to project implementation;
• preparation of application documents;
• repayment of debts or liabilities;
• purchase of real estate;
• penalties, fines, or compensation payments;
• expenses financed by other programs or state aid;
• costs related to currency exchange fluctuations.

• The call for project proposals and the start of application submission began on 14 May 2026.
• Applications are accepted from 14 May 2026 until 1 June 2026, 18:00.
• From 14 May to 30 June 2026, the submitted documents will undergo compliance and completeness verification, including anti-corruption checks of applicants.
• On 15 May 2026, the selection of experts for the Fund’s Expert Council will be announced, while the deadline for expert applications is 19 June 2026.
• The Commission meeting for approving the composition of the Expert Council is scheduled for 24 June 2026.
• Projects that pass the technical selection stage will be transferred to the Expert Council and the Fund’s financial department on 30 June 2026.
• Budget reviews and recommendations regarding prohibited expenditures will take place from 30 June to 15 July 2026.
• On 16 July 2026, experts will provide recommendations regarding project implementation mechanisms and financial support conditions.
• Applicants will receive expert and financial department comments on 17 July 2026, while revisions based on recommendations will take place from 18 to 20 July 2026.
• Open presentations and project defense sessions will be conducted during 21–26 July 2026.
• Final project evaluation and scoring by experts will take place from 27 to 29 July 2026.
• Approval of the final list of winners is expected on 30 July 2026, while the public announcement of results is scheduled for 31 July 2026.
• Negotiations with selected winners will begin from 3 August 2026.

• The application package must be submitted in time in electronic form and in full compliance with the program requirements.
• The project budget must correspond to the project objectives and must not contain prohibited expenses.
• Documents must be submitted in Ukrainian. Any documents in foreign languages must include a Ukrainian translation.
• All documents and the application package must be signed with an electronic digital signature (EDS) in the Fund’s CRM system.
• After submission, applications undergo technical screening and compliance verification. If deficiencies are identified, applicants have up to 5 working days to submit corrections.
• Only projects that successfully pass the technical review and address expert and financial department recommendations proceed to the final evaluation stage.
• Priority is given to projects supporting veteran entrepreneurship and the creation of additional jobs.
• Project presentations are conducted online. Applicants are given up to 10 minutes for the presentation and up to 5 minutes for questions and answers.
• If an applicant fails to return the revised application package to the CRM system after receiving comments, the project is considered disqualified.
• Following the final evaluation, experts assign scores and prepare the final project ranking. The final list of winners is approved based on this ranking.

• The program  provides for two types of reporting: interim and final reporting.
• Interim reporting includes:
  • quarterly narrative reports describing project implementation, achievement of objectives, completed activities, and risk management;
  • quarterly financial reports with supporting documentation for all expenditures.
• Within 10 calendar days after project completion, the beneficiary must submit final narrative and financial reports.
• Financial reporting must include:
  • copies of bank statements;
  • primary financial documents confirming expenditures;
  • supplier-related documentation;
  • market price monitoring results;
  • a certificate confirming the absence of payment arrears.
• For procurements exceeding UAH 5,000, beneficiaries must provide evidence of market research and justification for selecting the most economically advantageous offer.
• The final report must include:
  • actual project results;
  • information on future use of project outcomes;
  • an organizational capacity development plan;
  • expected post-project results.
• Failure to submit reports in the required format or failure to comply with Fund requirements may be considered a violation of the grant agreement and may result in its termination.
• Final reports and supporting documents must be submitted in printed form, properly bound and numbered.
• After project completion, the Fund may publicly disclose project results and grant expenditure reports on its official website.