Yakutian government eyes innovations

The government of Yakutia intends to support innovative projects with the help of venture financing in the total amount of 35 million rubles. A tech park will be established within the scope of the program, in accordance with the initiative from the head of the republic, Egor Borisov.

"The government of the republic assigned five subsidies - one million rubles each - for small innovative companies that deal with engineering works. The Ministry for Entrepreneurship and Development of Tourism of Yakutia assigned subsidies for existing innovative companies in the amount of 20 million rubles. Ten million were assigned for the companies that only begin their activities," the press service of the presidential administration and the government of the republic said.

As many as 75 applicants will compete for ten grants of the President of Yakutia to support innovative projects. All of the above-mentioned measures are being taken as a part of the program titled "Innovative Lift 2012."

In addition, a tech park will appear in the center of Yakutsk. The building will house the following: venture capital company Yakutia, the center for protection of intellectual property of the Academy of Sciences of the republic, as well as consulting and servicing firms.

The republic's committee for innovation policies and science will develop the project of the tech park and its economic constituent within the forthcoming two weeks.

"Last year, we provided considerable support to the development of science and the introduction of innovations. A venture capital fund was established, the volume of the state support for the Academy of Sciences of the republic was increased. We also made decisions about the creation of the tech park, the center for intellectual property, the agrarian scientific and educational center and the scientific and educational fund of young scientists and specialists," Egor Borisov previously said.