Central regions | Finance, business | Technology & innovation

Disruptive tech developers may enjoy new benefits

17 Jul '19
The Russian government is considering a package of possible credit benefits for project teams that develop technologies capable of disrupting markets and helping the entire national economy advance, the Russian business daily Kommersant reported. Debates have been active for a month already.

The technologies to be backed include big data, the industrial Internet, sensors, robotics components, virtual and augmented reality tech, wireless communications, neurotech, artificial intelligence, new quantum solutions, and technologies for industry.

Project teams that seek to implement such technologies in Russia may be eligible for an eased 1-5% loan policy. Loans may be given for up to six years; no borrower can get more than $23.5m per project.

One of the possible requirements being considered as part of the package is compelling a team to spend at least 60% of a loan on the actual implementation of a technology the developers have worked on, including the purchase and installation of equipment and software.

Between 2019 and 2021, the government might decide to allocate $195+m from federal coffers to fund the initiative, if approved.
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