On October 10, Vitebsk /Diana Kurilo - BELTA/. The Vitebsk region is implementing a venture project for the first time, as reported to a BELTA correspondent by the Economics Committee of the Vitebsk Regional Executive Committee. A venture project is a set of works aimed at creating and implementing innovations, organising and developing the production of high-tech goods, including through the establishment of an innovative organisation. The Belarusian Innovation Fund has recognised the development and implementation of a new technology for the production of cement-porous sheets, ensuring resource saving and import substitution in construction at OrshaKEMBel LLC as a venture project and decided to finance it. This project is included in the state programme of innovative development. The implementation of the project will enable the production of innovative products that will find wide application in the construction sector for building facade insulation, manufacturing lightweight wall panels, and installing permanent formwork. The establishment of production will reduce the cost of enclosing structures by up to 40% and organise product exports to Russia and Ukraine. With the support of the Belarusian Innovation Fund, another project included in the state programme of innovative development is being implemented in the region – "Expansion of production of boilers and boiler equipment at NPP Belkotlomash LLC". This will enhance the enterprise's scientific and production base and stimulate the application of new developments – energy-efficient boilers using local types of fuel, including milled peat, and increase their output for the needs of domestic and foreign markets. As noted by the Economics Committee, the Belarusian Innovation Fund has participated in financing innovative projects proposed by enterprises in the region for the first time. The Belarusian Innovation Fund was established by a Resolution of the Council of Ministers in 1998 to strengthen state support for innovation activities in Belarus and is a non-profit organisation under the State Committee on Science and Technology of the Republic of Belarus. The main task of the fund is to ensure favourable conditions for the development of innovative entrepreneurship and the effective operation of enterprises and organisations of various forms of ownership that develop and produce knowledge-intensive innovative products in Belarus. Project financing is carried out on a repayable and paid basis.-0-

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