Small- and medium-size businesses can now receive investment funding from the Sverdlovsk region’s new Foundation for Assistance.
Sverdlovsk officials started the fund to encourage growth in small- and medium-size companies through private and public partnerships.
The fund, as of Wednesday, holds more than $2 million U.S.
Organizers have placed limits on the amount of investment funding available to a business. The minimum amount of financing for each company is approximately $216,000 U.S. The maximum any investor can fund a company is approximately $648,000 U.S.
Existing companies will receive investment funding before start-up companies. Qualifying companies must have at least 50 percent in private investments. The funded project must last no more than five years and yield a minimum of 10 percent each year.
Investors will prioritize businesses based on the Sverdlovsk region’s estimated socioeconomic development in 2020. Investments will most likely go to medicine, pharmacology, information technology, environmental developments, mechanical engineering, new materials, metallurgy, the timber industry, chemical engineering, instrumentation and electronics.