New Russian IT Fund to Promote Innovation

Russian President Vladimir Putin last week led a supervisory meeting of Russia’s Agency for Strategic Initiatives (ASI) on the creation of new funding structures that will provide government financing to new IT projects. According to the Kremlin press service the agency, “will focus on the organization of a dedicated fund for the selection and funding of IT projects and initiatives.”

Putin is joined in the initiative by Russia’s Minister of Economic Development Andrei Belousov, CEO of ASI Andrei Nikitin, and the Chairman of Vnesheconombank, Vladimir Dmitriev.

The idea for such a fund was first raised by the Russian President in November 2012. He then proposed the structure as a means for creating domestic jobs and as a support mechanism for young creative professionals and entrepreneurs in IT. It is expected that the fund will focus on projects that have a “significant value for society.”

Members of the ASI supervisory board are said by the Kremlin to be considering a raft of projects to support new businesses, young professionals and social projects.

ASI is an independent non-profit organization created by the Russian government to support unique, socially significant projects and initiatives for medium-sized businesses, to facilitate professional mobility and support young professionals.

Source: Software Russia
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