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Lviv City
Investment News

 

Lviv has both close proximity to and a fondness for Europe. Together with a wealth of talent and favourable labour costs, the city is rapidly becoming a popular location within the EU supply chain, as Natasha Turak reports.

Named one of Lonely Planet travel guides’ top 10 undiscovered cities to visit in 2016, Lviv – the largest city in western Ukraine, but only the seventh largest in the country, with a population of 750,000 – is becoming a hub for European businesses looking for high-quality talent and manufacturing on the doorstep of the EU.

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U.S. venture fund General Catalyst has invested $110 million in IT company with Ukrainian roots Grammarly.

Bloomberg has reported that the startup makes software that underlines awkward words and phrases in the user’s writing and makes suggestions, similar to a feature in Microsoft Word.

“The software tailors the tone and word choice of personal or professional writing for the 6.9 million people using the tool daily, many of whom interact with the service through a web browser extension for Google Chrome,” Bloomberg said.
According to a website of the company, Grammarly has offices in San Francisco, New York and Kyiv.

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With its independent coffee houses and traditional chocolatiers, Lviv looks, smells, and tastes like the best of Europe. Indeed, its Western flavor has earned it the moniker "Little Paris of Ukraine." And yet, compared to other prized European cities, relatively few people travel here.

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Lviv City Council in cooperation with Western NIS Enterprise Fund, UDL System  and IT Cluster launched innovations marathon with the goal to turn scientific projects into technology-based startups.

Lviv invited to implement ideas and projects and turn them into technology-based startups.

International experts from the USA, Denmark and Germany were involved to the forum. More than 20 R&D projects were participated in Innovation Spring Forum 2017. Three projects were the recipients of an award.

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