The NTI Foundation starts selecting projects with the focus on IT and robotics industries
The National Technology Initiative Foundation will start selecting projects in March and April, in particular in IT, artificial intelligence and robotics, Alexander Povalko, CEO and president of RVC, said in his interview with RIA News.
"Investments will be made into projects related to approved "road maps" and end-to-end technologies — artificial intelligence, big data storage, energy storage, wireless communication, robotics, i.e. a fairly wide range of technology solutions which inadvertently appear at all these markets" , — Povalko said on the sidelines of the Gaidar forum.
Teamwork is the main thing is.
"We have a plan of start-ups , but not all of them are related to IT solutions, there are also hardware solutions. Much will depend on who will manage this portfolio. A managerial team will start supervising all project solutions after February, in March and April," he said.
Until then RVC is planning to sum up the results of the competition and create such team.
"The competition is underway, and it doesn’t concern investors, it rather concerns a management team. The main risk associated with such funds is to team up with wrong people. Of utmost importance is to select smart people with experience and a large network of connections both among investors and project companies. The competition will be in progress until mid-end of February," he added.
According to Povalko, NTI concerns companies that "will take the leading positions in future markets."
"It does not mean that they do not exist today. These businesses are quite specific entities and legal markets, which develop in a peculiar way. We have access to seed element, we have experience in grant financing, borrowed financing, developing projects at later stages, but we have a "gap" in terms of financing the projects that are not applicable to traditional loan instruments. In other words, inestimable venture projects, which are often prone to risks," he explained.
"Actually, the fund purpose is to create an adequate tool to finance the developing commercialized projects. As of today the government has allocated 1.5 billion roubles, it is expected that the same amount will be raised from the market. We have quite strict deadline: the fund is to be created this year, minimum 25% of investments should be attracted to its first part and the rest should be raised in another year. The government has already provided the money," he added.
RIA News, which is part of the media group "Russia Today", is the official information partner of the Gaidar Forum — 2018.