Innovations will get support from VEB, SME Bank and the Bortnik Fund

Within the II International Forum “Open Innovations”, which has been held in October, 31 – November, 1 at the field of International Exhibition Center “Crocus Expo” (Moscow), has been conducted the agreement on cooperation execution between the Vnesheconombank, SME Bank and the Foundation for Assistance to Small Innovative Enterprises in Science and Technology (the Bortnik Fund).

From the side of the Vnesheconombank the document has been executed by the deputy Chairman – member of the Board Mikhail Kopeikin, from the side of SME Bank – the Board Directors Chairman Sergey Kryukov, from the Fund side – director general Sergey Polyakov.

The agreement supposes coordination of work for development institutions on financing the enterprises of small and medium business, leading scientific-technical and innovation activity, and also rendering of joint complex support with use of returnable and non-returnable financial supporting tools for high-tech companies.

According to the document, the Fund offers subsiding to objects SME, leading scientific-investigation and experimental developments, in amount of percent payments part with the whole volume of subsiding per one company, not exceeding 15M RUB, Vnesheconombank through affiliate SME Bank will render support to innovation credit products. In its turn SME Bank will finance projects, information on which has come from the Fund or the Vnesheconombank, and also represent guarantee support to medium enterprises for investment projects realization.

The agreement between the development institutions will allow decreasing cost of financing for innovation companies at the expense of compensation a part of credits percent rate, offered within the Program of SME Bank.