Russia’s Subsidies for 25 Innovation Clusters on the Table

Russia’s Subsidies for 25 Innovation Clusters on the Table

Russia’s Ministry of Economic Development has unveiled plans to develop 25 regional innovation clusters, each receiving $154m a year in federal subsidies for five years in a row, starting 2013, according to Marchmont News citing the RIA Novosti news agency.

These clusters will reportedly focus on IT, supercomputer technologies, medicine and pharma, radiation technologies, nuclear technologies, shipbuilding, oil and gas refining and aerospace.

In addition to implementing this new subsidy program the Ministry suggests that the so-called national development institutions (such as Rusnano, Russian Venture Company, VEB Bank, innovation hub Skolkovo and some others) also be involved in funding the innovation clusters. Another source of funding should be allocations by large-scale companies in which the Russian government has a majority stake, the Ministry believes.

The draft program also calls for granting the regional innovation clusters the tax and other benefits that only the Skolkovo government-sponsored innovation hub outside Moscow currently enjoys.

The Russian Ministry of Economic Development is expected to complete drafting the program by the end of Q3 2012, according to the RIA Novosti report

CATEGORY: Outsourcing News

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