Government fund of funds
Development institute of the Russian Federation

National Innovation Report

National Innovation Report

Since 2015, RVC, together with relevant ministries and leading analytical centres, has been developing an annual “National Report on Innovations in Russia”.

The national innovation report annually provides an assessment of the current state of the Russian innovation ecosystem and determines the main directions for adjusting federal innovation policy. The theme of the third report, presented by RVC together with the Ministry of Economic Development of Russia and the Expert Council under the Government of the Russian Federation, was “Attracting investment in the innovative sector of the Russian economy through the tools of the venture capital market”.

The document was based on the results of a broad expert discussion of the state of the national venture capital industry, as well as the results of a comprehensive sociological survey, in which more than 200 respondents working in the innovation sphere took part: investors, technology entrepreneurs, representatives of federal authorities. The report will become an analytical base for the working out of the Strategy for the Development of the Venture Market and the Direct Investment Market of the Russian Federation, the draft of which should be submitted by RVC before the end of 2018.

Povalko Alexander Borisovich, General Director, Chairperson of the Board of RVC

“The venture market provides investments in technology companies with high potential and growth prospects, to which traditional methods for assessing the cost of risks used by the banking sector and classical investors cannot be effectively applied. As part of the updated strategy, RVC’s mission is to form a mature venture capital industry in the country. Possible scenarios for solving this task are disclosed in the National Innovation Report.”


In preparing the recommendations, the results of a survey of participants in the venture capital market, federal executive authorities, development institutions, universities, and expert organizations in December 2017 were used as well as proposals from the Venture Market Council and the results of expert discussions.

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