Startups will be able to raise capital publicly

2019-01-09 14:20:36

Ulaanbaatar /MONTSAME/ Parliamentary Standing Committee on Social policy, Education, Culture and Science discussed draft amendments to the Law on Innovation at its regular meeting on January 9.

Some terms related to innovation system, infrastructure and operations were upgraded in the draft bill. Moreover, new provision to support private sector, that allows startups to raise capital from the public and trade its shares outside the stock exchange, were included in the amendments, noted initiator of the draft law Minister of Education, Culture, Science and sports Ts.Tsogzolmaa.

75 percent of MPs present at the meeting voted to discuss the draft bill and agreed to present their proposals and decision at the plenary meeting of the Parliamentary Session.