Press about RVC

The RVC Fund To Allocate 600 Million Roubles for the Development of Projects of the National Technology Initiative

Source: PRIME

The Fund for Support of the National Technological Initiative (NTI), created by Russian Venture Company (RVC), will allocate 600 million roubles for the development of NTI start-ups, according to the message of the Ministry of Economic Development of the Russian Federation.

Providing state support to projects was discussed at a meeting of the interdepartmental working group for the development and implementation of NTI under the government commission for economic modernization and innovative development. The head of the Ministry of Economic Development, Maxim Reshetnikov, and the head of the Ministry of Education and Science, Valery Falkov, attended it. First Deputy Prime Minister Andrei Belousov chairs the working group.

Thus, financial support for more than 600 million roubles will be channeled through the NTI Support Fund for four projects: Gyroscope at NV-centers in diamond, Neyri, Health Heuristics, NTI Olympiada. Financial support is provided only if at least 30% of extra-budgetary funding is attracted.

“The projects aim to gain positions in global markets, services with unique characteristics, providing priority positions for Russian companies in emerging global markets. As we can see, the projects are large-scale and creative, correspond to the origins of the idea of the National Technological Initiative to create new markets, and are at the intersection of spheres and areas of life”, said Maxim Reshetnikov.

“Projects are selected based on their economic prospects, among other things. We try to choose those of them that are “doomed to success”, the Minister said.

The specificity of working with such projects is the strict control over the spending of monetary funds. He underlined Two more projects — Avineiro and MPAK — 3D Development — the head of the Ministry of Economic Development instructed to finalize at the level of an expert council as soon as possible.

RVC is a state institution for the development of the venture capital industry of the Russian Federation. The main objectives of the Company are to stimulate the creation of Russia's own venture capital industry and execute functions of the Project Office of the National Technology Initiative. At the beginning of 2020, the portfolio of funds with RVC capital participation included 180 high-tech companies.

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