The Ministry of Industry and Trade of the Russian Federation has developed a draft government decree on simplifying the receipt of subsidies by Russian AI developers. The implementation period for each project should not exceed six years, the developer will be able to receive up to 500 million rubles (equivalent to $6.4 million) annually. At the same time, he will have to invest his own funds in the project, at least 30% of the total amount.
Applicants for subsidies will be selected through a competition. The company must be registered in Russia, exist for at least three years or be included in the list of strategic enterprises (or be a subsidiary of such an organization). The head of the Ministry of Industry and Trade Denis Manturov noted that in 2021 the allocated amount of subsidies could amount to 1.5 billion rubles. (equivalent to ($19.4 million).