BIF holds competition of innovative projects for venture investment fund

5/18/17 1:23 PM / Views:648

The Belarusian Innovation Foundation announced the beginning of the selection of innovative projects for financing at the expense of the joint Russian-Belarusian Venture Investment Fund. Both newly created and actively growing Belarusian companies with promising innovative developments, primarily in the field of industrial technologies, are invited to participate in the competition of projects.

Such sectors as instrument making, microelectronics, medicine, pharmaceutics, biotechnology, etc. are the most interesting. Belarusian companies, whose development and technologies will be the best, will be able to obtain the financing for projects on individual terms through the entry of a joint fund into authorized capital.

The applications are accepted until June 25, 2017 inclusive. More detailed information on the selection criteria and the terms of financing projects can be found on the BIF website.

For reference: the Belarusian Innovation Foundation and the Russian Venture Company concluded a contract of the investment partnership "Russian-Belarusian Venture Investment Foundation" with a view to the financing of promising developments in Belarus and Russia in December 2016. The volume of the fund is 1.4 billion Russian rubles (24,500,000 million USD as of May 2017) with the contributions on a parity basis: 50% of the project is the Belarusian side, 50% of the project is Russian. The total period of the fund's activity is 10 years, including 5 years of the investment period. The investment interest of the fund are companies that have an innovative technology based on its product / service possessing the potential to sell on a single market in Russia and Belarus.