The programme is jointly funded by DST, Govt. of India and FASIE and will provide access to public funding for joint selected projects with the participation of at least one SME from Russia and one SME/Startup from India.
The funding to the Indian entity will be provided by the Department of Science & Technology (GoI) and the funding to the Russian entity will be provided by FASIE. The joint projects will be partially funded by both the agencies, with the remaining costs to be borne by the project partners themselves either through own funds or alternate sources of external funding.
The project comprises of two annual cycles and five projects will be funded under each program cycle. For each annual cycle of the program, a total funding of upto INR 7.5 Crores will be made available to the Indian entrepreneurs with upto INR 1.5 Crores committed to each of the top five projects shortlisted.
|In India, the maximum funding per project would be INR 15 Million and the applicant must co-finance 50% of the amount requested from DST, GoI.
||In Russia, the maximum funding per project would be RUB 15 Million and the applicant must co-finance 30% of the amount requested from FASIE.