Baku, Azerbaijan, Oct. 1
By Fakhri Vakilov - Trend:
World Bank has discussed the project of commercialization of science in Uzbekistan, during the meeting at the Ministry of Innovative Development of Uzbekistan, Trend reports referring to ministry.
According to WB's private sector development specialist Marializa Motta, who headed the delegation, there are three components of the mentioned project.
The first includes support in the amount of $5 million and involves the preparation for the project — carrying out analytical and technical design work, developing a specific plan of action against corruption, financial management and the development of monitoring and evaluation systems.
The second component of $30 million is aimed at bringing the system of development of science and technology to a more stable and modern level.
An applied research and development program will provide funding to identify talented young scientists. Funds will be allocated for PhD students, including study abroad and grants for universities and research institutes for conducting applied economic analysis.
The third component, in the amount of $15 million, provides grants for the introduction of technology, research and development, and commercialization.
These funds will be allocated to entrepreneurs for the implementation of innovative startups, enterprises of all sectors of industry that have the potential to develop a new or improved product (including services).
The program will provide grants to cover up to 40 percent of costs for technology implementation projects and up to 70 percent of costs for innovative projects with a maximum amount of $250,000 for projects lasting up to 24 months, subject to co-financing from its own resources.
The parties decided to discuss in detail the next stage of the project in October this year, documentation will be prepared for the implementation of the project. Moreover, Ministry of Innovative Development of Uzbekistan can receive up to $100 million in total from the World Development Bank.
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