RVC and TUS-S&T Agree on Russian-Chinese Cooperation in the Field of High Technologies


RVC General Director Alexander Povalko and Deputy General Director of the TUS-S&T Service Group Miao Chun at the Third Russian-Chinese Forum “Investing in Innovations” in Moscow signed the agreement on cooperation. The document opens up new opportunities for the work of Russian technology projects in Asian markets.

In accordance with the agreement, RVC and the Chinese company TUS-S&T Service Group plan to support joint initiatives to bring the Russian high-tech business to the Chinese market. The parties are also interested in the implementation of projects aimed at increasing the volume of Chinese investment in Russian innovation projects.

In particular, TUS-S&T Service Group will provide consulting assistance to technology companies from Russia in attracting Chinese investors, assist in establishing contacts with Chinese industrial and technology enterprises. It is planned to expand such cooperation within Export Accelerator of the National Technology Initiative, which was launched by RVC in conjunction with PwC in September.

RVC and the TUS-S&T Service Group also plan to cooperate in the framework of Up Great technology contests. The Chinese company will promote active participation in competitions of companies, engineering teams and scientists from China.

The agreement involves a two-way exchange of information between RVC and the TUS-S&T Service Group on technology trends in Russia and China, and the dynamics of demand for specific technologies. Such interaction will allow making medium and long-term forecasts of the economic and technological development of the two countries and determining the optimal investment strategies.

“The partnership with the TUS-S&T Service Group is an important step in expanding RVC’s value proposition for technology companies planning to expand into Asian markets. In Asia, a substantial part of global venture capital is concentrated; the region demonstrates the growing demand for high-tech products. Thanks to cooperation with TUS-S&T, we will be able to offer Russian innovative business new tools for expanding sales markets and attracting financing,” commented Alexander Povalko, the General Director of RVC.

“Cooperation with RVC has both strategic and practical significance for us. Most recently, we have announced the creation of a Russian-Chinese venture fund with sovereign funds of Russia and China. His goal is to invest in Russian high-tech start-ups interested in working in the Chinese market and assisting in entering our market. At the same time, the fund's investments are not represented by money alone, but more importantly, by some different services. In this sense, the value of each dollar invested by the fund is higher than the funds received from many other investors. The goals of RVC are consistent with ours; therefore, I quite am optimistic about the prospects for our future cooperation,” said David Young, the lead consultant for the TUS-S&T Service Group.

The Russian-Chinese Forum "Investing in Innovations" was launched on October 16, 2018, within the framework of the "Open Innovations" Forum. The event is held annually since 2016 in accordance with the memorandum on cooperation in the field of innovation, signed between the Ministry of Economic Development of the Russian Federation and the Ministry of Science and Technology of the PRC. In September 2016, the Forum was held in Moscow, in June 2017 — in Harbin.

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