FASIE

FASIE, or the Foundation for Assistance to Small Innovative Enterprises, is a prominent state-owned non-profit organization based in Moscow, Russian Federation. Established in 1994, its core mission is to foster the growth and development of small and medium-sized enterprises (SMEs) engaged in innovative activities. Unlike traditional venture capital firms that typically seek equity stakes, FASIE primarily operates by providing direct financial aid in the form of grants, alongside informational and other support, to stimulate scientific and technological progress within the country. Its strategic focus is on nurturing early-stage innovation and helping promising projects transition from research to commercialization.

The organization manages a diverse portfolio of grant programs tailored to different stages of innovation and company maturity. For instance, the "START" program is designed to support early-stage innovative companies, offering initial grants that can reach up to 3 million Russian rubles (approximately $33,000 USD). For more established SMEs with proven technologies, programs like "Development" and "Commercialization" provide larger grants, with potential funding reaching up to 20 million Russian rubles (approximately $220,000 USD). These non-repayable funds are crucial for startups and small businesses that might struggle to secure conventional financing due to the inherent risks associated with innovative R&D.

FASIE's approach plays a vital role in de-risking innovative projects and bridging the funding gap for nascent technologies in Russia. By providing seed and early-stage capital through grants, the foundation enables entrepreneurs to develop prototypes, conduct market research, and scale their operations without immediate dilution of equity. This model has significantly contributed to the creation of new high-tech jobs and the commercialization of scientific breakthroughs across various sectors. Its long-standing presence and consistent support have made it a cornerstone of the Russian innovation ecosystem, particularly for companies focused on deep technology and scientific advancements.