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Kommersant

Ministry of Economic Development to Support Startups at All Stages

November 23, 2021, 11:23 (UTC+3)|
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The Ministry of Economic Development of Russia has developed a support plan for technology startups, which implies state support at all stages, from the idea to the first public sale of shares.

The first startups are expected go public in 2023, and by 2024 their number will be at least 30. To achieve the goals, the ministry identified three main stages in the formation of a technology company:

  • the first stage is mass pre-acceleration (from idea to first sales) and acceleration, when the startup starts generating revenue;
  • the second stage is the development of mature startups with revenues of $667,500 (50 million rubles) or more;
  • the third stage is to support a stable business with revenues from $6.7 million (500 million rubles).

As part of the proposed support measures, it is planned to reimburse investors up to 50% of their investments in the project, as well as give soft loans to small and medium-sized innovative companies, grants for product development, and subsidies to companies up to 50% to compensate for IPO costs.

The government-approved "Takeoff - From Startup to IPO" Initiative will begin in 2022 and end in 2030.

Original (in Russian)

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