Grant Support for Youth Initiatives as an Alternative Source of Attracting Budget Funds for the Development of Territories

Nowadays, many Russian regions deal with the problem of attracting additional financial resources to the local budget, causing regional authorities to search for alternative funding to balance regional and municipal budgets. The implementation of youth initiatives is one of the key instruments used to launch social projects in the region. Moreover, these projects often attract additional funds to the region through public grants. Therefore, this paper is focused on the promotion and management of youth as a target social group, since it represents a powerful strategic resource for the development of individual regions and the country as a whole. This study will evaluate the impact of grants for young entrepreneurs' initiatives as a separate tool for the development of socio-economic situation in the Russian regions. Furthermore, this article will elaborate on the key effects of the implementation of these initiatives for the region in terms of the fulfillment of regional policy priorities.