Siberia | Technology & innovation

Seven Tomsk innovative firms to receive $17,000 each from regional budget

15 Aug '11
Seven innovative companies in Tomsk region, that have won a regional contest of small innovative firms, are to receive financial aid of $17,200 each from the regional budget, FederalPress reports citing regional officials.

The subsidies are provided to redeem part of expenses, related to starting entrepreneurial activity, in order to support young innovation business.

In order to receive the funding the company has to first of all be aimed at implementation of result of scientific results of organizations of Tomsk science and educational complex. An applicant also needs to have a strategy for commercialization of results of intellectual activity and a real forecast of goods production growth rates, Aleksey Pushkarenko, the acting deputy governor on science and technology and innovation policy and education, said. Out of 12 applications that we received at the contest, only seven innovative companies met the requirements, and these seven will receive subsidies worth a total of $86,000, he added.

According to the regional officials, the contests for small innovative companies, applying for receiving subsidies, have been held by regional authorities since 2010. During that time a total of 63 young innovative companies have received over $1m support for their business. The next, sixth, contest selection is to start next week, the officials said.

The Innovation Development Program was approved in Tomsk region over ten years ago. At first there were only 40 companies with innovative features in Tomsk. Today there are about 500 such firms. On the other hand, many of these companies have a small turnover so far from $275,000 to $345,000, information agency Tomsky Obzor cited Aleksey Pushkarenko.
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Locations: Tomskaya oblast

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