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Start-up projects of Internet Initiatives Development Fund to be selected objectively

November 05, 2013, 17:57 UTC+3
Seven months had passed since the discussion was started to give support to those wishing to implement business projects on the Internet
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Photo ITAR-TASS/Mikhail Klimentyev

Photo ITAR-TASS/Mikhail Klimentyev

NOVO-OGAREVO, November 5 (Itar-Tass) - Russian President Vladimir Putin said start-up projects of the Internet Initiatives Development Fund must be selected objectively and transparently.

“It is essential that selection should be objective and transparent and that the administrative and financial follow-up of the projects you present should be as transparent, effective and democratic as, properly speaking, the functioning of the web as a whole should be,” the president told the participants in the meeting “Start- Ups in the Internet” project of the Internet Initiatives Development Fund.

He stressed that a great deal had already been done to establish the Fund which had “already assumed a definite outline, collecting 6 billion rubles for the start-up from various sources.” “Not so bad for a start-up, but considering all the proposals, even 60 billion rubles will not be enough,” the head of state said.

He said seven months had passed since the discussion was started to give support to those wishing to implement business projects online. “We have the biggest number of Internet users in Europe, and the highest pace of internet development in the world, and Russia is among the top five countries for Internet trade volume. Precisely these constantly widening opportunities suggested to consider giving support to those who intend to work in this area,” Putin said.

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