High-tech projects support Act submitted to the Moscow City Duma

The draft law on science and technology and innovation in Moscow was introduced to the City Duma by the Mayor of Moscow Sergei Sobyanin. The document, which is to strengthen the mechanisms of state support to the creators of industrial parks, technopolises and business incubators will be considered by summer as a top priority, as Sobyanin applied for the deputies.

After adopting the law the government will determine the companies that will receive tax benefits, subsidies and administrative support from the authorities. State support under the new law will be implemented for the three categories of innovation centers’ players - management companies, residents (producers) and organizations whose projects will receive priority status.

In order to get administrative support, tax benefits, lower rent for land and other benefits, businesses must meet certain criteria. For example, a candidate for the status of the management company must confirm its financial soundness, have the right to use land for a period of not less than 10 years, he must have a developed business plan, as well as experience in creating techno sites. It is also necessary that the company is to deal with vital to the city high-tech and resource-efficient production.

According to the first deputy head of the capital’s Department of Science, Industrial Policy and Entrepreneurship (DSIpE) Michael Ahn, a draft law on innovation can be adopted by the Moscow City Duma in May, the coordination of regulations can take another month.