The Ministry of Industry and Trade has allocated EUR 40m from the structural funds for the National Innovation Fund (NIF) project. NIF has gained another EUR 10m as a co-investment from the European Investment Fund. The ministry has informed that the proceeding for permission of NIF’s activity is currently underway. The fund will be formed as a newly built governmental investment company with professional management and a licence from the Czech National Bank that will be responsible for the implementation of a new type of government subsidies – refundable investments.
Source: CIANEWS, www.czechstartups.org