Monday, August 21, 2017

Additional funds available to update the equipment of industrial businesses

Sverdlovsk Regional Entrepreneurship Support Fund has more openings for applicants seeking to upgrade their equipment. The openings are available until Nov. 21.

A committee of professionals met Sept. 30 to evaluate a proposal about updating equipment. They have been accepting applications since Tuesday and will continue until Nov. 21. Out of 450 applicants, the fund approved only 73 applications.

These funds are part of the Sverdlovsk government’s initiative to support industrial innovation. To fulfill this initiative, the Sverdlovsk Regional Entrepreneurship Support Fund set aside 447 million rubles to modernize equipment in the region. The funds were redirected from both regional and federal budgets.

The applicants must meet certain qualifications. For the opportunity to receive 1 million rubles, the company must employ less than 15 individuals. To potentially receive 10 million rubles, the company must employ more than 15 individuals.

The funds are separated into different divisions. Agricultural projects could receive 149 million rubles, but after the committee evaluated applicants, only 124.4 million rubles of the agricultural fund has been approved.

298 million rubles was designated for manufacturing productions. All of the funds in this group have been approved for various businesses.

Organizations in this story

Sverdlovsk Regional Entrepreneurship Support Fund Sverdlovsk Oblast

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