MacPaw invests 1 1 million in the frankovsky industrial plant.Renovation and becomes the largest investor of the project

The Ukrainian IT company MacPaw has become the largest investor in the Promprylad project.Renovation in Ivano-Frankivsk. During the war, the company invested 1 1 million in the development of the center, increasing the total amount of its investment in the project to.1.5 million, MacPaw reported.

It is assumed that the funds will be used for the revitalization of 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 created. These buildings are planned to be restored by the end of 2022. The project will be implemented in stages, taking into account priorities in the conditions of war.

"The goal of the project is to create conditions and opportunities under which Ukrainian companies, entrepreneurs and specialists from various industries will remain and work in Ukraine, and, thus, will support the country's economy during the war and its recovery after the victory," the release says.

It is expected that the project will be comprehensive: about 3,500 jobs will be created on the territory of the industrial device, as well as a hotel and hostel-coliving for teams and specialists.

In total, since the beginning of implementation, the project has already attracted $12.5 million from 1,186 private investors and companies from Ukraine and around the world. As of May 26, there is still ще 2.5 million left to attract investment.

Cooperation between MacPaw and the Promprylad project began in 2019, when the IT company first invested in the development of the center. On the eve of a full-scale Russian military invasion, part of the MacPaw team moved to Ivano-Frankivsk and continued to work in the industrial device coworking space.

"I believe in the potential and mission of the project. Together, we want to create such conditions that talented and creative people remain in Ukraine, and companies resume their activities and strengthen the economic front of our struggle. The development of the project will help restore the country's economy faster," said Alexander Kosovan, founder and CEO of MacPaw.

As you know, Promprylad.Renovation is an innovation center that is being created on the basis of an old factory in Ivano-Frankivsk and operates at the intersection of four areas of development in the region: new economy, urbanism, contemporary art and education. This is a project from the field of impact investment, where investors simultaneously invest in social impact on the region and receive a return on investment in the form of dividends.

Earlier it was reported that the founder of the Ukrainian investment holding company InSoft Partners Vitaly Gorovoy acquired a minority stake in the Lviv IT service company Indeema Software.