Investment projects
Promprylad.Renovation
Promprylad.Renovation is an innovation center on revitalized premises of an old plant focused on the development of new economy, urban planning, contemporary art, and informal education in the region.
Project follows the impact investing model, where investors contribute to social changes in the region and get a return on investment in the form of dividend payouts.
Promprylad is an idea of a reboot, a place for personal fulfilment and a reason to stay in the city. The successful project creates a model for similar areas.
The project unites people with similar values, prompts them to find common solutions to the problems and provides access to talents and unique expertise.
The project initiator and leader is Yurii Fyliuk — native lvanoFrankivsk entrepreneur, restaurateur and founder of social projects, the most famous of which (Urban Space and Teple Misto) are among the best examples of public initiatives in Ukraine.
During five years the project is going to raise more than $30 million from private investors, organizations and long-term loan from International financial institutions to gradually launch six buildings and a park. The area of over 36,205 m2 will create conditions for business and social initiatives focused on the development of the region.
$1.3 million were invested for launch of the pilot floor and renovation of 1,783 m2. 16 business, educational and cultural functional areas from different tenants already operate on the third floor of the plant. There are both commercial and non-profit organizations.
New Economy
This direction is the most presented on the floor. Among the companies that work here are:
- family manufactory Shuflia specializes in the manufacture of leather products;
- Molfar brewery with a modern vision of craft brewing;
- Ukrainian brand of sustainable clothing Framiore;
- Department for Investment Policy of Ivano-Frankivsk City Council;
- FinImpact - financial systems for business;
- printery PrintBar;
- and coworking space, where other residents and teams work.
Contemporary Art
One of the project's tasks is to acquaint citizens with contemporary art, as well as to support local artists. So among residents are:
- gallery of contemporary art Detector, which presents works of Ukrainian and foreign artists;
- Mixstyle Dance School is Ivano-Frankivsk branch of one of the first modern dance studios in Ukraine;
- art coworking is a space for educational projects in the field of visual arts, as well as a physical space in which artists, masters and craftswomen can create and work (main residents are Yarema Stetsyk and Vitalii Hrekh).
Urban Planning
An important component of Promprylad.Renovation is working out own expertise on the development of the city:
- MetaLab —urban laboratory for research and development of city spaces;
- Teple Misto (Warm City) is a platform for initiatives and synergies between them;
- Øresund: transport solutions
Informal Education
Residents of Promprilad.Renovation direct their efforts to educate not only children but also adults. Here operates:
- Beetroot Academy is a Swedish-Ukrainian social IT school;
- Educational experimental shop Dribnota is an educational space in which children learn what they do not learn in school;
- Roboclub IF is an educational environment for children;
- R&D center is a research laboratory for the development of batteries of the future;
- Re: recycling laboratory;
- Makerspace Parasolka is a creative space where ideas turn into products with free access for everyone.
Such neighborhood already illustrates the importance and effectiveness of interaction between community, business, local authority.
In total, as of April 2021, 6,205 m2 have been revitalized, employing 29 resident companies and organizations, which are listed on the project website.
As a business, Promprylad.Renovation is a multifunctional commercial property aimed to generate income from operational activities. Promprylad.Renovation is an impact investment project aiming to provide compulsory payback and return on investments alongside with generating a measurable, beneficial social impact and value for the community.
Up to 1/3 of the area will be rented out at a reduced rate to non-governmental, cultural and social initiatives, whose profile coincides with the visions of the project.
Project is implemented by the consortium of the strategic partners: Teple Misto, Insha Osvita, Beetroot Academy, Pact Ukraine and LvBS
Project partners: Ivano-Frankivsk City Council, CANactions, Kingdom of Sweden, International Renaissance Foundation, SRI Іnternational, Robert Bosch Stiftung, BMW Foundation, Swiss Agency for Development and Cooperation, British Council, architectural studio FORMA, law firm MorisGroup, architectural office Zotov&co, agency Aimbulance, German Federal Ministry for Economic Cooperation and Development, company "23 restorany", Impact Hub Odessa, Heinrich Böll Foundation, PLEDDG, Bridges Consulting, Finstream, EY, Garage gang.
Project Results after 3 Years of Operation
- $8 million investments
- 770 investors from Ukraine and 28 countries
- 1400 events
- 60 000 visitors
- 30 exhibitions
- 75 big conferences
- 500+ lectures and educational events
- 350 people work in administrative office and functional areas
In 2020 3 development projects worth UAH 3,640,000 were implemented together with partners:
- first stage of the Makerspace project
- update of the business plan by Lviv Business School of Ukrainian Catholic University (LvBS)
- vision of the circular economy (research by Metabolic)
Social Development Ecosystem
At the end of 2020, Promprylad.Renovation also received a positive decision on financing the implementation of the project “Development of the innovation ecosystem of Ivano-Frankivsk” in the amount of UAH 17,300,000. The grant application was written in partnership with the Department for Investment Policy of Ivano-Frankivsk City Council. The project provides for the technological infrastructure of the open innovation workshop Makerspace (and R&D centers) with an area of 1,500 m2.
An important part of the investment project is its social contribution to the development of the city and community. The methodology proposed by PACT allowed calculating that each dollar invested will create five dollars of social effect.
The projected impact rate was calculated for the Pilot floor. The team is currently working on developing an impact calculation method for the full project.
Advantages for Community
Up to 30% of the profits of the innovation center will fund projects focused on four areas of regional development. Up to 30% of the area will be rented out at a reduced rate to art, educational and urban studies initiatives.
Forbes Rating
In 2020 Ivano-Frankivsk took first place in the Best Cities for Business rating according to Forbes Ukraine by gaining 720 points out of 1,000 possible.
In total, Ivano-Frankivsk scored the highest number of points on 10 criteria: business activity, Doing Business rating, purchasing power, transparency of city authorities, transport links, security, education, perception of the city by residents, migration attractiveness and environmental situation. In the article, the main factors of success are the Urban Space 100 and Promprylad.Renovation projects. Interestingly, in 2012 the city was in 28th place in the same ranking.
Interaction with Local and State Authorities
- Renovation is included in the development strategy of Ivano-Frankivsk. The project should help the city to implement one of the city’s strategic goals, namely Development of Small and Medium Enterprises.
- Renovation was included in the five investment projects-magnets of Ukraine, which were presented at the RE: think. Invest in Ukraine forum in Mariupol. The project of the innovation center is a prototype of the ecosystem model of impact investment, which can become a model of economic reboot in other cities of Ukraine.
- Cross-border Green Transport Network (CGTN). The international project Cross-border Green Transport Network is a collaboration of the Department for Investment Policy of Ivano-Frankivsk City Council and the Teple Misto platform. Thanks to a joint grant application, the city received funds from the EU for the installation of 3 Promprylad charging stations (23 Akademika Sakharova str.). At these stations, everyone can charge their electric car for free.
Achievements and Awards
▲ Effie Awards Ukraine is the most prestigious award in the field of marketing communications, which is received for the main achievement in the field – effectiveness. According to the results of the Effie Awards Ukraine 2020, Promprylad.Renovation took third place among the leaders in two rankings: the most effective advertisers and brands in Ukraine. The project was recognized as the best and received gold in the Positive Change category, as well as three silver awards in the Finance, PR and Engaged Community categories.
▲ Winner in the Social Project of the Year nomination of the SUP 2020 award.
▲ Winner in the Economic Development nomination of the Partnership for Sustainability Award from the UN Global Compact in Ukraine.
▲ Winner in the Reconstruction and Redevelopment category of Special CP Award of the National Real Estate CP AWARDS 2020.
Promprlad.Renovation Investment Presentation
23 Sakharova street, Ivano-Frankivsk, Ukraine, 76000
