Press about RVC

RVC: The innovation market in Russia begins to evolve and attract investment

05.12.2016
Source: RIA News

SOCHI, 5 December - RIA News, Ulyana Grebennikova. The innovation market begins to transform in 2016; the quality and quantity of start-ups is improving and investments in the sector are growing, told the Acting General Director of Russian Venture Company Evgeny Kuznetsov.

According to him, the last few years, and 2016 in particular, gave a good development of the innovation sector in Russia. Despite all the difficult circumstances, the number of high-quality start-ups is still growing.

"2016 was a year of preparation for the transformation of the Russian innovation market. We very much hope that in 2017-2018, this iceberg will turn upside down, and we will see a strong surge in investment, because the number of investors grew, so did the number of companies, which has intensified the interaction. We have passed by the "valley of death", which was a few years ago", said Mr. Kuznetsov.

Thus, the number of participants is also growing: 4.3 thousands of start-ups vs 3.5 thousand last year and the quality of the companies is improving. In addition, many universities have joined the process and began to work on the model of universities 3.0, and have started to create innovative infrastructure. Many companies have started to create innovative competitions, innovative start-ups, and accelerators.

"So we see that we are moving in the right direction. This year, there was a very interesting moment when the number of investors wishing to invest venture capital sphere began to rise sharply", said Mr. Kuznetsov.

He also said that companies are still not fully formalized their desire, have not created venture funds and have not made their first investments, yet have expressed their interest. These are the people and companies that previously invested in a more conservative type of property objects or currency, and now they are preparing to invest in innovation. Many Russian funds have invested abroad and gained some experience, positive and negative, and now they are considering of investing at home.

According to RVC, at the end of the third quarter of 2016, the number of transactions with a known volume of the market of venture investment reached 80% compared to 2015 and more than 70% by volume. At the same time, the last quarter of year is usually characterized by a particularly high activity that allows you to predict the strengthening of market positions.



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