1. Does the enterprise has to operate from Russia or can it also operate from Israel? Does the enterprise have to be incorporated in Russia?
- To receive Skolkovo grant an Israeli start-up company has to establish a company in Russia (Russian start-up).The two companies will sign an R&D cooperation agreement and will jointly complete R&D and develop a product. IsraelSK Gateway has a partner platform to establish Russian start-up companies.
2 Does the enterprise can be fully funded by Skolkovo or do you have to provide a minimum equity? What kind of rights does Skolkovo receive in return for its investment? Are there any circumstances under which the company will be obligated to return the funds? Is there any royalties obligation on the Company receiving funds to Skolkovo or other third parties?
- the Russian start-up will apply for financial support fromSkolkovo foundation - non-refundable, non-diluting and royalty-free grant which should cover 50-85% of the approved expenses (of USD1Mto USD5M). Once the grant is approved, the Russian company will spend it according to the approved budget to fund the R&D program in Russia. IsraelSK Gateway is capable of assisting the company raise matching investment in Russia.
3. Is the IP developed with the funding is fully owned by the Company? Are there any restrictions on the IP developed by a company which receives funding from this program? Are there any restrictions on the IP developed with the funding from this program?Are there any restrictions on selling the Company/IP anywhere in the world?
- The IP rights will be mutually owned by two companies. The Israeli start-up can also apply for financial support from OCS.
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