Innovative companies of Nizhny Novgorod region received 300M RUR for 5 years

The authorities of Nizhny Novgorod region summed up five years of work to create the infrastructure for innovative businesses. There are eight business incubators that have been established since 2007, the Fund to promote venture investments (with assets of 280M RUR) and the Seed Fund.

The results of work were summed up at a meeting of the regional government. 150 enterprises have received regional financial support. But the regional authorities help not only with money, they build the necessary infrastructure. There is a Center for the development of export potential, as well as community centers and Entrepreneurship Funds (in 35 districts). IT-Park Ankudinovka is being built for the companies to open their research divisions in; there are also pilot and serial productions.

There are also plans for the future: there will be a center of prototyping, or an Access Center for the implementation of advanced technologies for staged production. The customers of the center will be small and medium innovative enterprises of Nizhny Novgorod Oblast and Volga Federal District

One of the serious problems discussed at the meeting was the tendency of entrepreneurs to get only one type of assistance, while other instruments of state support are not so actively used to increase the capitalization of enterprises. The solution is to create an integrated regional system to support the development of innovative enterprises.