This Law defines the legal, economic and organizational framework for the regulation of innovation activities by the state, establishes all forms of encouragement and stimulation of innovation processes by the state, and aims to ensure the comprehensive development of Ukraine’s economy and its support through innovation.
The law provides all kinds of state support for all business entities, including those of all forms of ownership, engaged in the implementation of innovative projects in Ukraine, as well as business entities of all forms of ownership that have received the status of innovative.
This law is important for local community foundations, as the largest number of grants and funding is received by foundations for the implementation of innovative projects and development programs.
Link to the law: https://zakon.rada.gov.ua/laws/show/40-15#Text