Foundation for Assistance to Small Innovative Enterprises in Science and Technology (FSI, formerly known as the Bortnik Fund) is a state fund that serves as a key instrument for supporting small innovative entrepreneurship in Russia. The Fund focuses on a wide range of technological sectors, including IT, biotech, robotics, new materials, and energy efficiency.
Main areas of activity
The Fund declares the following areas of activity:
- Engaging youth in innovation activities
- Supporting startups
- Assisting in the commercialization of developments or business expansion
- Promoting the development of high-tech economic sectors (business diversification, cooperation between small and large businesses)
- Supporting export-oriented companies
According to the Foundation's General Director Sergey Polyakov, the Foundation's task is "to support startups at the earliest stages of development, starting from school and ending with projects related to serious industrial enterprises"
[2]. The Foundation provides exclusively monetary support for the implementation and commercialization of innovative projects at various stages — from an innovative idea of a young scientist in the amount of 500 thousand rubles (the "UMNIK" program) to grants for large companies planning to scale production (the "Commercialization" program).
Foundation Programs
.The Foundation for Assistance to Small Innovative Enterprises implements programs for the development of youth innovative entrepreneurship:
- The "Inno-Schooler" program is designed to attract school-age youth to the innovation sector and stimulate their interest and motivation in innovation activities and technological entrepreneurship. One of the program's objectives is to identify potential participants for the "UMNIK," "Student Startup," and "Start" programs among school-age youth.
- The "UMNIK" program is aimed at supporting young scientists seeking to realize their potential through innovation, as well as stimulating mass youth participation in scientific, technical, and innovative activities. Project support parameters: grant amount is 500,000 rubles; participant age is from 18 to 30 years inclusive; the project evaluation process consists of three stages: semi-final selection, remote expert review, and final selection; the grantee is required to complete a pre-acceleration program on the basics of innovative entrepreneurship and create a foundation for the commercialization of results; R&D must be completed by the end of the grant agreement.
- Since 2022, the "Student Startup" program has been implemented, designed for individuals enrolled in bachelor's, specialist, master's, or postgraduate programs at higher education institutions in the Russian Federation. Program participants are provided with a one-year grant of 1 million rubles.
- The "Start" program is aimed at creating new and supporting existing small innovative enterprises at an early stage of development that seek to develop and launch the production of a new product, item, technology, or service using the results of their own scientific, technical, and technological research with significant commercialization potential.
- As an alternative to the third stage of the "Start" program, it is possible to participate in the "Business-Start" competition. This competition is aimed at financing the commercialization of R&D developed upon completion of any stage of the "Start" program. The grant can be used to purchase necessary equipment, pay loan interest and lease payments, and reimburse other expenses associated with project commercialization. The maximum grant amount is 12 million rubles; the minimum co-financing is 50% of the grant amount. Participation is open to all projects that have completed any of the previous program stages.
Other Fund programs aimed at supporting small innovative companies:
- Development Program. The program is aimed at financing enterprises that already produce high-tech products and seek to diversify production or reduce costs. Grants up to 20,000,000 rubles.
- Internationalization Program. The program promotes the competitiveness of Russian small innovative businesses in international markets. Grants up to 15,000,000 rubles.
- Commercialization Program. The program is aimed at supporting companies that have completed the R&D stage and plan to create or expand production of innovative products. Grants up to 30,000,000 rubles.