Residents of IT-Park' Business Incubator about what they spend 500K on

Investment Development Agency (IDA) of the Republic of Tatarstan announced the results of the first contest for the selection of business support programs Innovation and technological Modernization on August 12, 2012. The Expert Council decided to provide subsidies to 31 applicants, 7 of them were Residents of IT-Park’s Business Incubator. Each received 500K RUR.

Representatives of the IT-park asked the residents to tell what they would spend received money on.

Victor Osetrov, Real Speaker (develops audio-visual speech recognition system): The grant from IDA came very opportunely. The fact is that we have recently signed an agreement for funding with Innovation Center Skolkovo. The grant is 4.8 M RUR. 3.8 M RUR of which came from the Fund and 1 M RUR is our funds. At the same time, in order to get the money we have to be the first to make a deposit which is more than 1 M RUR. And Skolkovo will make its share only after appropriate audit. Since our start-up project has no available funds and all of our financial resources are in circulation, making the deposit could be postponed for months. Since the agreement with Skolkovo is in effect and we have to report on it, the situation would become quite unpleasant to RealSpeaker project. Fortunately, IDA will deposit 0.5 M RUR to the account of our company soon. It is a real salvation for us!

Michael Kashafutdinov, 123apps (develops applications for audio and video): This grant was very helpful, and most of all, I must say a big thank you to the Agency. To date, we are about to complete the development and testing of the first four Web applications.

Albert Gaifullin, Foundook (develops a service to automate recruiting on social networks): The grant from IDA is the first grant in the history of our young company Foundook. The money will be spent on the development of the project and software solutions. The grant helped us to define our plans for future activities. We plan to attract new developers to the company. We will also spend the grant on patents and the registration of our software.

Bulat Saifutdinov, Clomix (develops based on cloud technology for sales management, inventory control and customer relationship for small and medium mercantile businesses): We plan to spend the grant on the purchase of necessary equipment, trademark registration and certification of our software.

Alfamed, which develops the first system for work automation and remote consulting of distant medical institutions, succeeded more than others in IDA program of grants. The company received a grant of $5M RUR.

Marat Kharisov, Alfamed: The grant will be spent on the implementation of our project and the purchase of necessary equipment.