The sources of finance raised for the projects: misconceptions and risks

Abstract

The article deals with current issues of using raised capital in the form of grants and/or subsidies for scientific, social and technological projects. Particular attention is paid to two major misconceptions. The first one arises in the process of applying for competitive selection of projects and is associated with the lack of a systematic and planned iterative approach to the process of attracting funding for the project by the initiator of the application. The consequences of such a point-by-point and chaotic activity are discussed. The authors present the systematized data on the competitive procedures carried out by the Ministry of Industry and Trade of Russia, the Foundation for Assistance to Innovations, the Presidential Grants Foundation and the Russian Science Foundation in 2021. The cycle of competitive procedures for different types of projects is demonstrated. The second misconception arises during the implementation of the project at the expense of the grant and/or subsidy, and it consists in underestimating the responsibility for the use of the grant money and the scale of potential losses. The author's analysis of economic disputes on civil legal relations between grant-making organizations and grantees in projects with fully and/or partially unachieved objectives for the period 2020 - 2022 is presented. The paper analyses the size of potential losses of organizations that received grant funding for projects in the form of grants and/or subsidies and failed to fulfil the requirements of the contract (agreement) with the grantor.