Commentary to Decree No. 229 of 20 May 2013

    President of the Republic of Belarus Aleksandr Lukashenko signed Decree No. 229 “Concerning measures to encourage innovation projects” on 20 May.

    State support will be provided on a step-by-step basis to small innovative companies as well as natural persons that implement innovation projects with assistance of technology parks or small business incubators.

    Innovation projects will be financed by the Belarusian Innovation Fund and the Belarusian Fund of Financial Support to Entrepreneurs.

    Decisions on providing state support will be taken by a contest commission set up at the State Science and Technology Committee. The commission will select basing on the novelty, current importance, and financial viability of the innovation project.

    An innovation project should meet the priority areas of the sci-tech activity in Belarus, envisage the production of innovative or hi-tech goods, stipulate its implementation on the basis of patented developments or samples of new materials, instruments, devices based on know-how of the applicant.

    The decree comes into effect six months after its official publication (except for some of its clauses).