The Irkutsk administration economy committee announced a competition for subsidies for small high tech companies to support commercialization of innovative technologies. This year 7 million rubles were allocated for project funding, and the subsidy can cover up to 80 percent of costs, while the remaining 20 percent must be covered by the participant. An expert commission will decide on applications within 60 working days after the document submission period ends.

The competition is being held by the Economic Committee of the Irkutsk City Administration. Its purpose is to create conditions for the commercialization of innovative technologies through support for small high-tech companies.
An Expert Commission has been established to evaluate the competition projects, headed by Deputy Mayor and Chairman of the Economic Committee Alexey Almukhamedov. Within 60 working days after the application period ends, it will conduct an evaluation and make a decision on whether to grant or deny subsidies, determine their amount, and assign a ranking score to the projects.
The subsidy for a project amounts to 80% of the total costs. Its recipient must be able to attract own funds for the implementation of the innovative project in the amount of 20% of the costs. Subsidies are provided free of charge and on a non-repayable basis and may be spent only within the framework of the declared cost estimates of innovative projects.
The total amount of subsidies provided this year under the competition is 7 million rubles. In 2012, 7 innovative projects received support, with the total amount of subsidies issued amounting to 5 million 540 thousand rubles.
All information of interest about the Competition can be obtained at 14 Marata St., office 107, Irkutsk, on working days from 09:00 to 18:00. Phone: 52-04-32. Contact person: Maria Alexandrovna Nikolskaya. Email address: nma@admirk.ru
For reference:
An innovative project is a set of interrelated activities that ensure the creation and dissemination of new or improved products or a new or improved technological process, as well as activities to develop innovative infrastructure with the aim of obtaining profit or other useful effect.
Subjects of innovative activity are small and medium-sized businesses engaged in innovative activity in the territory of Irkutsk in accordance with current legislation, as well as organizations of innovative infrastructure.
Based on materials from the press service of the Irkutsk City Administration