The Ministry of Economic Development jointly with RVC is creating a venture foundation to support promising educational technologies in the digital economy, according to the Ministry’s message.
The main function of the Foundation is investments in the early-stage startups intended to enhance education efficiency and availability, including educational content creation, educational program selection services, educational platforms / aggregators, solutions for management of the personal educational trajectory, knowledge and competence verification technology. The Foundation’s objectives also comprise engagement of promising educational technologies to Russia and expansion of Russian innovative educational technologies abroad.
The Foundation will be created as the investment partnership for 10 years, and the investment period will last 5 years. The total foundations will amount to RUB 7 billion, most of which are federal budget foundations.
Today RVC starts the tender for the venture foundation partner manager. Companies may submit bids by August 1, 2019, and the preferred bidder will be selected in September 2019.
Besides financial investments, the Foundation envisages consulting, marketing and legal support to the innovative business in education.