Innovation fund set upEconomy
Ulaanbaatar /MONTSAME/ With an aim to promote innovation in Mongolia, National Development Agency of Mongolia in collaboration with German Society for International Cooperation (GIZ) has set up innovation funds that will lend support in three fields. Specifically, funds for encouraging innovation of SMEs; innovation of young scholars and startups; and creative media and digital industries innovation.
The innovation support funds will provide financial assistance and consulting services in developing innovation product and services. The project implementer applying for financial assistance shall be able to cover no less than 20 percent of the total cost of the project. Notably, the fund is now accepting project proposals until February 14.