Sverdlovsk Region’s small innovative businesses to get 16m RUR in subsidies in 2013

29 October 2013 (16:32)

October 29, 2013. Sverdlovsk Region Entrepreneurial Activity Support Fund announced an additional round of applications for subsidies that can be submitted by innovative, small startups.

The company’s press service reports the decision to process more applications was taken after a committee meeting dedicated to funds distribution.

After the applications had been considered, it was decided to allocate a total of over 5m RUR worth of subsidies.

A subsidy can come to up to 500,000 RUR, and 16.6m RUR will be allocated from the federal and the regional budget this year altogether. This means small innovative companies can count on over 11m RUR before the end of the year. Besides, such businesses can also get funding to make a pilot product sample and to have their developments patented.

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