The new fund will provide financing for Russian online projects

In Russia Development Fund began work online initiatives,
offering financing to domestic internet projects, ITAR-TASS reported. Currently, the foundation's Web site opened registration of participants. In addition to the financial, FRII also intends to provide expert support to the projects.

The three-year budget funding, as reported on the website of the fund amount to 6 billion rubles, of which $ 2 billion will be invested in the current year. FRII is going to invest in online projects commercial and social purposes, especially in the early stages of their development throughout Russia. Simultaneously with the reception of applications begins a phased launch mentoring networks and educational projects to provide access to expert resources.

  • Photo: Screenshot from the site FRII
  • Photo: Screenshot from the site FRII

The first group of about 40 projects will be selected in the first set accelerator in the autumn of 2013. The Fund will hold several sets annually. One of the conditions for investment FRII will participate in projects — its share will be 10 percent or higher.

The initiative to create FRII belongs to Russian President Vladimir Putin. Fund "will not only return the cash investment, but also wants to build an entire industry," according to the website of the organization. The state does not intend to regulate its activity.


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