Technology & innovation

RF passes legislation to support innovation

12 Jul '11
On July 6, 2011, the State Duma of the Russian Federation, the federal legislative chamber, passed the bill N508184-5 “On amending the Federal Law “On science and state science and technology policy” in part of provision of state support of innovation activity and assessment of its activity, science and technology portal reports.

This is the first law with definitions of commercialization of science and/or science and technological results, innovative project, innovation infrastructure. Many legislators and innovators have been insisting on including this terminology into legislation for a long time.

The goals and main direction of the state support of innovative activities are defined under the Russian Federation Innovation Development Strategy, approved by the federal Government. The legally confirmed state support forms include exemptions on taxes, customs and other payments, provision of educational services, consulting support, assistance in forming project documentation and financial aid. The latter implies subsidies, grants, loans, credits, guarantees, contributions into capital. The state support also can also be provided through programs, sub-programs, events within the federal programs, export support, provision of infrastructure facilities.

The main principles of state support of innovation activity include program approach and goals definition at the planning and project stage, its availability on all stages of innovation activity, advanced development of innovation infrastructure, private investors protection and encouragement of private initiative, controllable expense of allocated budgetary funding. Another important principle is publicity and transparency of state support of innovation activity provision. This information will have to be posted in Internet.

The law also regulates the procedure of assessment of spending of budgetary funding allocated on state support of innovation activity. The law has a clause, stating that the assessment methods are to consider “the high-risk characteristics of innovation activity, uncertainty of market and technological perspectives of innovation products that can lead to losses of financial and other resources, invested in the innovation project.”

The bill was passed in the second hearing in the RF State Duma on July 1, 2011. The bill has yet to be approved by the Russia’s upper legislative chamber – the Council of Federation of the Federal Assembly of the Russian Federation, and then it is to be signed by the RF President and become the Law.
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