Coronavirus has accelerated the digitalization of banks around the world: what they had to do for several years, they had to accomplish for 3–4 months. Fintech start-ups and neobanks also find themselves in a difficult situation: technology alone is no longer enough to gain customers' and investors' trust.
In the current crisis circumstances and others, corporations must make every effort to maintain innovative activity and continue development. But where to get new ideas and projects and how to assemble teams for their implementation? Ekaterina Petrova, Director of Corporate Accelerator GenerationS by RVC.
About 33 thousand Russians will be able to acquire new digital professions through free training at the University of 2035. This was announced on Thursday, July 16, to TASS in the press service of the autonomous non-profit organization (ANO) Digital Economy.
We hear more and more stories about how Russian start-ups become real "stars" abroad, how they get into the stream, and their solutions become in demand and sell well. But such stories, as a rule, are also accompanied by several reasons why the start-up left Russia.
According to IMF forecasts, the economies of developed countries will slow down by 6.1%, while developing and emerging markets are by 2.2% and 1%, respectively. All these factors can lead to a decline in world GDP by $9 trillion over two years and a decrease in the population's real incomes. Together with experts from the corporate accelerator GenerationS, we figure out how this will affect corporations and their investments in start-ups.
Where do most successful Russian start-ups originate? In the opinion of ordinary people — in Moscow, St. Petersburg, Kazan, Siberia (Novosibirsk and Tomsk — hello there!)... And somewhere at the very end of the list, in small print under an asterisk — the Far East. But it's not all that bad at all. There is technological entrepreneurship in the Far East, which is developing, although it is developing quietly.
Exits are the primary indicator of the performance of venture funds. Having invested in a company, the fund, after some time (usually 7–10 years), leaves its capital by selling its share. And if the fund manages to make money on the sale of this share, the exit can be considered successful.
The crisis caused by the coronavirus pandemic stimulates the government to develop support measures for business, which is why Russian President Vladimir Putin, in his address on June 23, proposed a tax manoeuvre in the IT industry and reduce the burden on the payroll. The deputy general director of RVC Aleksei Basov announced this to IA REGNUM.
The COVID-19 pandemic has plunged the global community into a position of universal confusion. Not a single country, including Russia, was fully equipped for this new challenge. A business forced to survive non-working days while maintaining employee benefits was in a difficult situation.
The ExoAtlant company, a spin-off of the portfolio company of the RVC ExoAtlet Biofund portfolio, tested an industrial exoskeleton jointly with the “Scientific Research Institute of Occupational Medicine named after Academician NF. Izmerov.” The study results showed the safety and effectiveness of the development in those areas of production where physical labor associated with lifting and holding weights is used.
Russian researchers have built technology for finding optimal locations for retail outlets and other business objects, which calculates popular places of interest among citizens using an intellectual analysis of their activity in social networks.
In 2019, the Russian venture capital market grew in volume: According to DSight and E&Y, start-up investments exceeded $868 million. However, in 2020, the industry is likely to decline due to the pandemic, which put many business processes on a forced pause, and investment activity also decreased significantly. How can a start-up survive in such conditions?