The Innovation Assistance Fund, together with the Ministry of Economic Development of Russia, announced the start of accepting applications for participation in the Business Start competition. 

The selection of companies takes place within the framework of the federal project "Take–off - from startup to IPO" under the leadership of the First Deputy Chairman of the Government of the Russian Federation Andrey Belousov. The maximum amount of support is 12 million rubles. 

Companies are required to supplement the grant by at least 30% with their own or borrowed funds. An important change in the Business Start competition was the inclusion of small technology companies producing in-demand technological products in key industries in the list of applicants.

Companies included in the MTK registry will receive additional points during evaluation and will not undergo on-site monitoring. The competition is aimed at selecting innovative projects that contribute to the creation, expansion and modernization of production for mass production of innovative products and their commercialization. In 2024, the Business Start competition is open to new participants, including companies with revenues of up to 100 million rubles over three years. 

Priority will be given to projects in the field of import substitution and technological chains. Russian companies classified as "Microenterprise" or "Small enterprise", whose head does not have contracts with the Fund, can participate in the competition. 

The work completion period is 12 months. 

Detailed information about the competition and the terms of participation can be found on the website of the Innovation Promotion Foundation. Applications will be accepted until April 22, 2024.