We are excited to announce our partnership with Promprylad.Renovation.
Promprylad.Renovation is a project of transforming an old industrial zone into an innovation center full of opportunities to support national business with an aim to develop the Ivano-Frankivsk region. In the first months of the large-scale Russian invasion, 12 relocated businesses and organizations were able to find refuge within the walls of Promprylad. Currently, the project team is focusing its efforts on building new infrastructure on the territory of the plant, expanding the labor market, and involving internally displaced people in economic development.
As an impact investment project, Promprylad.Renovation has already attracted more than $14 million in investments from private investors and companies, of which $4 million was collected after February 24. In addition, since the beginning of the full-scale war, the team managed to attract $500,000 in grant support as well as UAH 60 million in loans under the state program Affordable Loans 5-7-9%.
As early as next year, Promprylad plans to launch an additional 17,000sq.m of space, where they will create modern spaces and infrastructure for dozens of companies and organizations.
‘Projects like Promprylad.Renovation, and in particular their active development against the background of a large-scale war, are evidence of the indomitability of Ukrainians, a high level of civil society, and readiness to face the most drastic economic upheavals. Our partnership will open up ways of cooperation in many directions to support authoritative relations between the businesses of both countries: Ukraine and Canada. The plan is to organize joint initiatives, business events, and other business activities. I am firmly convinced that such cooperation will strengthen the position of Ukraine as a serious player on the international field,’ says Zenon Potoczny, president of the Canada-Ukraine Chamber of Commerce.
‘Since the start of the full-scale invasion, Promprylad Foundation has launched an initiative to support relocated and local entrepreneurs and organizations – Save Business Now. During this time, we managed to support more than 500 entrepreneurs, and I believe that through the cooperation of Promprylad with the Canada-Ukraine Chamber of Commerce, we will be able to create even more opportunities for Ukrainian entrepreneurs,’ says Liudmyla Kryzhanovska, Head of Partnerships and Fundraising at Promprylad.Renovation.
The renovation project of Promprylad has been supported by the Canadian government since 2018. In particular, throughout the years, the innovation center was visited by Ambassador Extraordinary and Plenipotentiary of Canada to Ukraine Larisa Galadza and former Ambassador of Canada to Ukraine Roman Waschuk. As part of a diplomatic meeting in 2019, the Canadian government presented a maple tree to the project as a symbol of friendship between the countries and faith in the future of Promprylad.Renovation. ‘You are creating values that are already worth the attention of the whole world’ – this is how a Canadian diplomat commented on the project during a visit 3 years ago.
Yuriy Fylyuk, the CEO of Promprylad.Renovation, spoke about the current progress of the project during the Rebuild Ukraine Business Conference in Toronto, Canada organized by Canada-Ukraine Chamber of Commerce.
‘Actually from the very beginning of the project implementation, Promprylad.Renovation has had a long positive history of cooperation with Canada. In particular, we are very grateful for the direct support of the Canadian government at the launch stage of the pilot project.
We have already made several business visits to Canada as part of the experience exchange meetings, and in 2019, we participated in the Ukraine Reform Conference in Toronto. Now, during a full-scale Russian invasion, we especially feel the heartfelt support of the people of Canada.
Therefore, for us, cooperation with CUCC is an organic step in developing the potential of mutual relations between our countries. It is the trust in the project of such powerful international organizations that is a clear indicator that we are on the right track’, shares Yuriy Fylyuk, the CEO of Promprylad.Renovation.
‘I believe that the cooperation of Canada-Ukraine Chamber of Commerce and Promprylad.Renovation will build a powerful platform for the cooperation of Canadian and Ukrainian entrepreneurs. At the same time, Promprylad.Renovation can become a window of opportunity for Canadian business investments in Ukraine. It is an ecosystem that is growing at a rapid pace, and therefore, is able to initiate positive changes in the Canada-Ukraine partnership,’ notes Yuriy Kryvosheya, Chairman of the Supervisory Board of Promprylad.Renovation and President of the Ukrainian-Canadian Joint Company Toronto-Kyiv, member of the Board of Directors of the Canada-Ukraine Trade Association.