Entrepreneurship Support

Small and medium-sized enterprises are the driving force of Ukraine’s economy, and during the war, the economic role of women-led businesses has grown significantly. As many men serve in the Armed Forces, women are increasingly taking on leadership roles – supporting communities, creating jobs, and helping businesses adapt to new realities.

However, the wartime context has also exposed systemic challenges faced by small and medium-sized enterprises, particularly those led by women: limited access to financing, gender barriers, lack of strategic support, and modern business knowledge. At the same time, there has been a growing need for a deeper understanding of inclusion and accessibility principles – to apply them in practice and make inclusion an integral part of everyday business operations.

For Visa, a global leader in digital payments, this presented both a strategic challenge and an opportunity – to empower women-led SMEs as catalysts of Ukraine’s economic recovery, to equip them with the skills and digital tools required for growth, and to reinforce the role of digital inclusion as a foundation of national resilience.

In 2024, in partnership with the Ministry of Digital Transformation of Ukraine, the Entrepreneurship and Export Promotion Office, and the Diia.Business network of entrepreneur support centers, and with the support of the United States Agency for International Development (USAID) project “Ukraine Confidence Building Initiative (UCBI)”, Visa launched the second wave of the national accelerator “Vidvazhna 2. Scaling and Digitalization” as part of the global initiative She’s Next Empowered by Visa.

The goal of the project was to provide women entrepreneurs with the knowledge, digital tools, and support needed to grow and scale their businesses amid wartime conditions.

The program brought together women with diverse backgrounds and at different stages of their entrepreneurial journey – from developing their first business ideas to scaling established enterprises. Participants could join the accelerator in one of three categories:

• Visionary – an active entrepreneur pursuing further growth;
• Debutant – an aspiring entrepreneur ready to launch her first venture;
• Barrier-Free Business Project – an entrepreneur integrating, or planning to integrate, inclusivity principles into her business model.

Recognising that not all participants could attend offline sessions, the program was designed in two accessible formats: fully online or hybrid. The hybrid track combined online learning with in-person bootcamps hosted at Diia.Business centres in secure regions of Ukraine. Participants received mentorship from experienced entrepreneurs and industry experts, worked on real business cases, and applied their new skills directly to practice.

The accelerator’s core educational component was the National Lectorium – a four-month online training series ensuring broad accessibility and flexibility. It comprised 17 thematic modules covering essential aspects of business management: financial planning, marketing, export, digital transformation, and leadership development.

The program’s speakers included representatives of the Ministry of Digital Transformation of Ukraine, Visa, monobank, Checkbox, UFUTURE, Ukrposhta, and NGO Impact Force, as well as founders of well-known Ukrainian companies and leading experts who shared their experience and practical insights.

Participants learned to adopt digital and cashless payment solutions, integrate e-commerce tools, and leverage technology to streamline operations and enhance the efficiency of their businesses.

To enhance the program’s practical component, Visa engaged its partners – monobank, Ukrposhta, Checkbox, and Shop-Express – who provided participants with access to digital tools and business solutions that facilitate transformation and growth.

The accelerator became a vital platform for Ukrainian women entrepreneurs – supporting their ambitions for growth, innovation, and resilience. More than 4,000 women from across Ukraine joined the program, including many who had relocated their businesses or started anew after displacement. As a direct outcome, 93 new businesses were officially registered by the end of the program – a clear reflection of how participants turned their newly acquired knowledge and skills into real entrepreneurial initiatives.

The program culminated in the Grand Pitch Day, during which 12 finalists presented their business ideas to an expert jury. The total grant fund of UAH 5.2 million was distributed among participants: 40 finalists received UAH 100,000 each to implement their projects, while the three category winners received UAH 400,000 each to further develop and scale their businesses.

A defining feature of the second season was its focus on inclusion. The accelerator introduced a new nomination – “Barrier-Free Business Project” – and a dedicated module on inclusive business practices. One participant who vividly embodied these principles was Svitlana Shevchenko, co-founder of VETERANOCOFFEE KYIV. Applying the knowledge gained during the program, she opened a barrier-free coffee shop – a welcoming space accessible to everyone. Another key dimension of her business’s social mission is veteran empowerment: drawing on the experience of her husband, a veteran and active serviceman who founded the coffee business after demobilisation, VETERANOCOFFEE now provides free consultations to military families, helping them launch their own ventures and reintegrate into civilian life through entrepreneurship.

“The ‘Vidvazhna 2’ program became an effective instrument that helped Ukrainian women entrepreneurs gain the knowledge and confidence needed to grow their businesses. At Visa, we believe that investing in women – their education, digital skills, and access to financial tools – creates an impact that extends far beyond business, becoming the foundation for Ukraine’s resilience and recovery,” – said Olena Gavinska, Senior Director, Head of Corporate Communications, Events, Inclusive Impact and Sustainability for Visa across 17 countries in Eastern and South-Eastern Europe, Central Asia, and the Caucasus.

Nearly a year after completing the program, Visa initiated a study to assess its long-term impact on participants and their enterprises. The research results confirmed sustained positive outcomes for women entrepreneurs across Ukraine: 93% of early-stage entrepreneurs continued developing their businesses, while 60% of established business owners reported growth in sales and profitability.

Many participants also made significant progress in digitalisation – 80% implemented cashless payment solutions, and 77% enhanced their digital competencies. The accelerator facilitated professional networking as well: 40% of participants expanded their business connections, and 60% reported plans to enter international markets.

The findings also demonstrated a notable rise in brand trust: nearly 90% of participants recognised Visa’s role in the program’s implementation and expressed a high level of confidence and loyalty toward the brand.

“Vidvazhna 2” has become a model of how knowledge, technology, and effective collaboration between the private and public sectors can drive tangible transformation. The program empowered hundreds of women to rethink their business strategies, discover new opportunities for growth, and established women’s entrepreneurship as a symbol of resilience, inclusion, and Ukraine’s renewal.

As part of the global initiative She’s Next Empowered by Visa and in partnership with the Ministry of Digital Transformation of Ukraine, Visa continues to support a new generation of business leaders. In September 2025, the third season of the accelerator – ‘Vidvazhna 3. Digital Evolution of Business’ – was launched, focusing on helping SMEs move from basic digitalisation to comprehensive automation and expansion into international markets.