The Ukrainian company MacPaw has become the largest investor in the Promprylad.Renovatsiya project in Ivano-Frankivsk. During the war, the company invested $1 million in the development of the center, increasing the total amount of its investment in the project to $1.5 million.
The funds will be used to revitalize buildings A, B, and B1, where a business support center, offices of innovative companies, a large coworking space, a reading promotion center, a food market and an art center will be established. These buildings are planned to be restored by the end of 2022. The project will be implemented in stages, taking into account the priorities in wartime.
According to MacPaw, the goal of the project is to create conditions and opportunities for Ukrainian companies, entrepreneurs, and specialists in various fields to stay and work in Ukraine, and thus support the country’s economy during the war and its recovery after victory.
The project will be comprehensive: about 3,500 jobs will be created on the territory of Promprylad, as well as a hotel and hostel-colliving for teams and specialists. In total, since the beginning of the project implementation, it has already attracted $12.5 million from 1,186 private investors and companies from Ukraine and the world. As of May 26, another $2.5 million remains to be attracted.
“Promprylad is a unique project for the development of Ukraine, which MacPaw has been supporting since 2019. During the war, Promprylad became a haven for teams of Ukrainian companies that were forced to relocate due to difficult conditions. I believe in the potential and mission of the project. Make Impact is one of the main values of MacPaw, and Promprilad. Renovation changes not only the region, but also affects the development of the whole country. Together, we want to create the conditions for talented and creative people to stay in Ukraine and for companies to resume their activities and strengthen the economic front of our struggle, says Oleksandr Kosovan, founder and CEO of MacPaw. “Building the project will help speed up the country’s economy and build Ukraine’s future.”
The collaboration between MacPaw and the Promprylad project began in 2019, when MacPaw first invested in the development of the center. On the eve of the full-scale military invasion of Russia, part of the MacPaw team moved to Ivano-Frankivsk and continued to work in the coworking space of Promprylad.