The Ministry of Energy commented on the reduction in financing of the project “Takeoff: from start-up to IPO”

• Previously, on October 8, RB.RU reported that in 2025 it is planned to allocate only 721 million rubles to the project, in 2026 and 2027 – 685 million rubles each. Previously, an amount of 60 billion rubles was planned for the period 2025-2026. The draft program with reductions was submitted to the State Duma of the Russian Federation for consideration along with the draft federal budget, from which the funds should come.

“As part of the new “May Decree”, the Russian president has set himself the task of increasing the income of small technology companies sevenfold. In this sense, the federal project “Takeoff – from Startup to IPO” has undergone a significant transformation in the preparation of the budget for 2025-2027,” explained the Ministry of Economic Development.

According to the ministry, the federal project changed its curator to First Deputy Prime Minister Denis Manturov and became part of the national project “Efficient and Competitive Economy” with the new name “Development of technological entrepreneurship.” Previously, Deputy Prime Minister Alexander Novak and former Deputy Prime Minister Andrei Belousov (now Minister of Defense of the Russian Federation) were among the curators of the project.

“The goals and objectives of the federal project also changed their focus towards the integration of technology companies into large business cooperation chains and national projects to ensure technological leadership, building a trajectory for technology companies to enter the public market,” explained the Ministry of Economic Development. .

It is planned to allocate 49.2 billion rubles from the federal budget for the implementation of the federal project “Development of technological entrepreneurship” in 2025-2027 (18.2 billion in 2025, 15.5 billion in 2026 and 2027), the ministry reported.

Since the preparation of the budget bill is in the active phase, the technical redistribution of funds “from the lines” of the federal project “Takeoff – from Startup to IPO” to the federal project “Development of technological entrepreneurship” has not yet been carried out. has made. completed, the ministry explained. The amount of extra-budgetary financing will be approved once the preparation of the budget bill is completed.

The ministry added that, in addition to the federal project “Development of technological entrepreneurship” and national projects to ensure technological leadership, other federal projects aim to increase the technological potential of the country: “National technological initiative” (15.5 billion rubles), “University Entrepreneurship Platform” (30.9 billion rubles). “Thus, the draft budget provides for about 100 billion rubles for the implementation of federal projects supporting technological entrepreneurship,” concluded the Ministry of Economic development.

The project “Takeoff: from a startup to an IPO” was in high demand among IT companies due to the possibility of obtaining preferential loans at 3% (the rate is expected to increase to 12%), but capable startups they did not go public. Use it frequently.

As reported by RB.RU founder of the analysis company Dsight (involved in risk market research) Arseniy DabbakhThe effectiveness of the “Takeoff: From Startup to IPO” project was in doubt, even despite the promising start, goal setting and initiatives.

“In communicating with many issuers and IPO candidates, we observed that many of them not only did not take advantage of the project opportunities, but often had not even heard of such programs. There are also those who have not taken advantage of the programs because the procedures to participate in them are too complex and often the game is not worth it,” Dabbagh said.

According to the expert, the program included the granting of soft loans, in addition to certain grants and subsidies to cover the costs of preparing for placement.

“We came across the fact that several residents of Skolkovo received preferential loans, and the total amount of loans in 2022 under the program even exceeded 15 billion rubles. But the borrowers were mostly companies in the industrial or B2B sector, which rarely go public. This is how projects that had little chance of being listed on the stock market were supported,” said the expert.

According to Dabbakh, the highest threshold for participating in the program was also the need to provide private co-financing: during the venture capital crisis of the last 2-3 years, that condition was difficult to meet.