Thursday, December 14, 2017

Sverdlovsk Regional Entrepreneurship Fund to help small businesses

The Sverdlovsk region has created the Sverdlovsk Regional Entrepreneurship Fund to bolster the economy.

The fund, which contains more than $3,300,000, is a regional venture capital fund that will help finance small businesses in the Sverdlovsk region by developing their infrastructure, which is essential to building a successful business.

Investors -- who are closely watching activity in the engineering, chemicals and electronics industries -- are determining which companies to finance by the amount of funds designated to them within the program.

Officials are not looking for investments with high risks of failure. They plan to finance more than eight companies, but prioritizing those companies depends on the socio-economic developments occurring between now and 2020.

“In the new scheme, we significantly expand the range of private investors who can take advantage of the co-investment fund for projects, thereby reducing the risks of those who are really willing to invest in innovative enterprises in the early stages of development,” Helena Tochilina, director of the fund, said.

Organizations in this story

Sverdlovsk Regional Entrepreneurship Support Fund Sverdlovsk Oblast

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