TechUp rating is aimed at the search and promotion of the most promising, fast growing technology companies.
The annual TechUp rating is arranged by the Russian Venture Company (RVC), in partnership with the Association of Russian Innovation Regions (ARIR), with the support of PwC, who developed rating methods, and MSP Bank. In 2015, National Research University — Higher School of Economics joined the project as a partner.
For 3 years of existence, the project proved itself as an efficient instrument of search, monitoring and promotion of the promising, fast-growing, non-energy, Russian companies having high leadership potential on the internal and global markets. In 2015, its main focus was to search for Russian technology companies that can compete on the international market. Development of recommendations and instruments to support "national champions", able to take leading positions in the segment and to create fundamentally new technologies and products; involvement of such companies in realization of NTI.
The most successful companies are divided into three categories: TOP-10 biggest (by revenue), TOP-10 fast growing (by revenue growth rate) and TOP-10 innovation (companies that produce high technology products and spend a definite part of revenue on R&D).
Participating companies get additional abilities for business development, with the support of the rating partners and promotion of the innovation products on international forums, specialized events and in Media. Besides, TechUp rating ensures improvement of the innovation business environment — increase of its transparency, determination of the best practices that can be used as a base for the concepts of further market development. As it was shown in practice, leaders of dynamically growing companies may be involved in dialog with governmental authorities, to discuss key problems and abilities for innovation and technology development. In this relation, it would be suitable to speak about an important role the wide, regional presence of the rating participant plays, and the opportunity to analyse the level of innovative activities in various territories.
To evaluate the potential of the innovation business in 2012, RVC, in cooperation with the Association of Russian Innovation Regions (ARIR), with the support Rosnano and Fund for the Promotion of the Development of Small Businesses in the Sphere of Science and Technology, realized the first project, in Russia, of the rating of fast growing high tech companies (TechUp). More than 200 Russian companies, with turnover exceeding 100 mln RUR and showing stable positive sales dynamics of their own high-tech products, participated in the rating. The rating takes into account: turnover, growth rate, and the innovative nature of the company products. The expert committee, including respected experts and entrepreneurs, was created to evaluate the last parameter.
The result is the TOP 100 rating of innovative, middle-sized technological companies, representing 11 industries, with the total income of 114 bln RUR. TOP 10 leaders of the rating show average growth exceeding 50%, annual turnover of more than 3 bln RUR, and the efficiency on labour 2.5 times higher than average values for the industry.
The results of the rating were presented for the first time at the Open Innovations 2012 Forum, in Moscow.
In 2013 PwC and Vnesheconombank joined the rating formation as partners. Relying on the international expertise PwC specialists contributed to the rating methodology. Vnesheconombank have provided the participating companies with access to special purpose programs, offering support to the medium sized production businesses launched in 2013.
In 2014, MSP Bank, which offered bank products on special conditions, to the companies, joined the project as a partner.
1) Arrangement of the companies rating club:
- arrangement of meetings of the companies with the representatives of the federal executive authorities at the level of relevant ministers and vice prime ministers (more than five meetings),
- arrangement of the special events with expert and business organizations aimed at extension of abilities of technology companies that can help to solve current business tasks (more than 10 special events, more than 20 expert organizations). The Companies acquired special abilities from the rating partners, MSP-Bank, RII MICEX, etc.,
- executives of the companies — participants of the TechUp rating are included in the expert committees, supervising ministries and agencies, such as The Ministry of Economic Development of the Russian Federation, Ministry of Education and Science of the Russian Federation, Ministry of Communications of the Russian Federation, Ministry of Industry and Trade and many others. Their representatives are also invited to participate in the relevant sessions of the Russian Presidential Committee for modernization.
2) Arrangement of campaigns related to the promotion of the rating participants and popularization of the technology business:
- more than 500 publications in the federal and regional Media of the rating and company achievements,
- "Tech park" TV broadcast on Russia 24 and OTR channels involving rating companies,
- Research of the fastest-growing, high-tech, Russian companies — participants of the TechUp rating was published.
The current rating methodology was developed in 2013 and modified in 2015. International PwC experience in such research, as well as analysis of the most current and respected international researches and ratings of innovation companies, was used for the development of this methodology. They include: The Most Innovative Companies 2012 (The Boston Consulting Group), The World's Most Innovative Companies (Forbes), TOP 100 Global Innovators 2012 (Thompson Reuters), The Global Innovation 1000 study of R&D spending (Booz&Co), Technology Fast 50 — Technology, Media, Telecom 2012 (Deloitte), How Companies Approach Innovation (McKinsey Global Survey).
Companies addressing the following qualification requirements qualify for participation in the TechUp rating:
- The Revenue for the previous year is from 100 mln RUR to 10 bln RUR.;
- Cumulative Aggregate Gross Revenue (CAGR) is not less than 15% for the last three years;
- Over the last 3 years, the company introduced, to the Russian market, at least one new or significantly improved product/service, developed based on their own or acquired R&D results;
- share of sales proceeds from the innovation products/services is at least 30% for the last three years;
- average expenses for R&D are not less than 5% of revenue for the last three years;
- average spending for technological innovation for the last 3 years is not less than 10% of the receipts;
- the company is older than 4 years.
More information on www.ratingtechup.ru