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Educational Technologies Development Fund to operate in 2019

Source: TASS

It will support projects aimed at intellectual development.

Russian Venture Company’s new fund, which will deal with the introduction of new technologies in the Russian education sphere, will work in 2019. This was reported to TASS by RVC Press Service on Monday.

“The target size of the Educational Technologies Development Fund will be 6.9 billion rubles. The Fund operation period is 10 years with the possibility of prolongation after a joint assessment of the results. The Fund’s planned approach to investing in portfolio companies also involves the participation of commercial partners, co-investors. It is assumed that the fund will begin to operate in 2019, explained the Press Service.

The objectives of the fund will include attracting and localizing the best foreign practices in the field of education, facilitating the launch of Russian startups on international markets, as well as financing the technology companies’ developments in areas related to the transformation of the existing education system. In addition to the above, experts say that not only developments for schools or universities will get the support.

“The Venture Fund will support projects aimed at lifelong intellectual development at any level of education: pre-school, school, secondary technical school and higher, additional (including corporate training and talent search). Gamification of the educational process and building personal trajectories, as well as the use of artificial intelligence, big data, neurotechnologies and robotics, are all interesting areas for investment,” Pavel Gudkov, Deputy General Director of the Foundation for Assistance to the Development of Small Forms of Enterprises in the Scientific and Technological Sphere (The Bortnik Fund) explained to TASS.

The news that Russia would create a fund for the introduction of technological solutions in the field of education was announced to the participants of the IV Congress of the industry union Neuronet in Moscow on February 9 by Special Representative of the Russian President on Digital and Technological Development Dmitry Peskov. The establishment of a venture fund to support promising educational technologies is provided for by Personnel for the Digital Economy Federal Project (included in Digital Economy national project). The process is overseen by the Ministry of Economic Development of the Russian Federation.

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