The Foundation for the Promotion of Innovation, together with the Ministry of Economic Development of Russia, has launched applications for the Start-Water competition. The competition is being implemented through the federal project " Start-up to IPO " , which is co-chaired by the First Vice-President of the Government of the Russian Federation, Andrei Belousov. Only individuals can participate in the competition and the support will be 3 million roubles without co-financing the project.

The Start-Start is focused on supporting those who are willing to launch a start-up based on their own innovations. The winner must register a legal entity within 30 days and become its leader. It is the new company that will own the intellectual property created by the grant. In the future, such a company would be able to obtain the status of a " small technology company " and access to preferential dominance measures, " the Deputy Minister for Economic Development of the Russian Federation, Maxim Kolesnikov, informed the company.

The winners of the competition will conduct applied research and piloting of their own hypotheses. This will enable the project to be tested as a whole and to assess the possibility of creating a product at subsequent stages of the market.

Projects are selected in six thematic areas: digital technology, medicine, new materials and chemical technologies, new instruments and intelligent production technologies, biotechnology and resource-saving energy.

The Innovation Promotion Fund for the second year holds the Starfleet competition. The first round of the competition was very interesting, with over 1.2 thousand applications from 72 regions of the country. In order to be able to obtain a grant of 3 million roubles, an understandable business model, proof of innovation and development needs” was presented by Sergei Polakov, Director-General of the Innovation Promotion Fund.

Ongoing bids for the Start-Flight competition will be completed May 2024.

Source: Innovation Promotion Fund