The Cabinet is planning to stimulate the development of innovative clusters, which are groups of linked enterprises concentrated in a single territory.
Officials promise to give grants not only to small and medium-size businesses, but subsidies to regions to help support the aggregation of companies into clusters.
The Economic Development Minister will gather plans from regional governments by March 15 to decide on how much money will be allotted from the federal budget, a high-placed official in the ministry told Vedomosti.
The clusters will be formed as a result of the concentration of connected companies in one area, said Alexei Prazdnichnykh, a partner at Strategy Partners. "They are connected by proximity to a buyer or supplier, by infrastructure or by human resources; universities that prepare specialists for such enterprises are also often included in clusters."
To read the full, original article click on this link: Federal Funding to Support Innovative Clusters | Business | The Moscow Times
Author: Yevgenia Pismennaya and Maxim Tovkailo / Vedomosti
