Stavropol Territory attracts more than 1 billion rubles to support entrepreneurship

In the last year Stavropol Territory has attracted a record volume of funds to support small and medium-sized businesses - more than 1 billion rubles, which is almost twice as much compared with 2010, RIA Novosti reports, referring to the Minister for Economic Development of the Stavropol Territory, Yury Yagudayev. "In general, over the past year financial support was collected with the help of more than 12 different mechanisms. More than 800 small and medium-sized businesses received the support which reached a record number- one billion rubles," the Minister said.

Yagudaev emphasized that, above all, the focus has been, and will be in the future, on innovative companies. There are grants of up to 500,000 rubles for innovative start-ups per recipient and grants of up to 5 million rubles for the reimbursement of expenses. There are separately-provided subsidies to entities engaged in innovation in information and communications technology - up to 2 million rubles.

Yagudaev said that among the mechanisms for subsidies were subsidies for technological connection to transmission facilities, as well as additional capitalization of the local guarantee fund and the microfinance fund with the help of 250 and 200 million rubles. In addition, the minister stressed that radical solutions have been developed to reduce fees and interest rates on microcredit and in terms of guarantees.