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Financing Russian National Technology Initiative projects totals $140 mln

The next year volume might be reduced

Head of the Agency for Strategic Initiatives Andrei Nikitin Mikhail Metzel/TASS

Head of the Agency for Strategic Initiatives Andrei Nikitin

© Mikhail Metzel/TASS

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Kremlin: Technologies like Hyperloop will be National Technological Initiative priority

MOSCOW, July 21. /TASS/. The financing volume of the National Technology Initiative projects in 2016 will total 9 bln rubles ($140.4 mln), next year the volume might be reduced, Head of the Agency for Strategic Initiatives Andrei Nikitin told TASS on Thursday on the sidelines of the Forum for Strategic Initiatives.

"Financing for the projects totals about 9 bln rubles ($140.4 mln) in 2016, but it has not been allocated yet. It is unlikely to grow in 2017," he said.

According to Nikitin, the main topic on the forum’s agenda is reduction of administrative barriers for business within the framework of the National Technology Initiative.

"The National Technology Initiative should not be tackled by the government funding. Most of the money should be kept private," he said.

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