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Russian government to allocate $163.4 mln to support small IT companies

KRASNODAR, September 1. /TASS/. The Russian government will allocate about 12 bln rubles ($163,4 mln) during four coming years to support small IT companies, Prime Minister Mikhail Mishustin said on Tuesday.

"The relevant program of artificial intelligence development was adopted for four years but, most importantly, it provides for special grants to be allocated within four years for development of small startups and companies already present on our information technologies market in large numbers. About 12 bln rubles will be allocated over four years to help 1,200 startups," Mishustin said.

"This is a rather good, sound support program" for small companies working in the artificial intelligence sphere, the Prime Minister added.

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