The amount of funds for innovation grants has quadrupled in Kazakhstan. It was reported by the Kazakh Ministry of Industry and New Technologies.

The amount of funds for innovation grants has quadrupled in Kazakhstan, the Kazakh Ministry of Industry and New Technologies reported. According to the ministry, about 1.7 billion tenge was allocated for last year’s grants, including 994 million tenge through the “Center of Engineering and Technology Transfer” and 693 million tenge through the Scientific Fund.

Innovation grants are the funds that are allocated free of charge for development projects and/or risky research, as well as preparing a feasibility study for the project. At the same time, the sum of a grant varies depending on its type.

Thus, no more than 20 million tenge can be allocated for performing development works of applied nature, and no more than 10 million tenge for patenting intellectual property.