The third "Global Innovation Partnership 2012" Forum has finished its work in Moscow last week. During the Forum venture investors from APR countries have studied Russian potential in the field of innovations, discussed with Russian colleagues specific lines of further cooperation, investment opportunities in high-tech projects, joint efforts to develop global companies and technology transfer.
The participants of "Global Innovation Partnership 2012" (GIP 2012) Forum were the officials from the Government of the Russian Federation and Moscow Government, representatives of Russian development institutes RUSNANO, RVC, Skolkovo Foundation, which have organized the Forum. Russian association of direct and venture investments (RAVI), as well as leaders of Russian innovative business also took part in GIP 2012. APR countries delegation comprised about 30 representatives of venture funds and private equity funds managing over $60 bln assets. Top managers of the largest Asian investor associations also visited Moscow. They manage funds exceeding $800 bln.
The opening of the Forum was held in the Radisson Royal Moscow hotel on October 2, as well as presentations of Chinese and Korean delegations, press briefing, panel discussion "Russian venture markets and direct capital markets: investment climate and development prospects", as well as RVC business section, including discussions "Trends and factors of innovative branches development in Russia" and "Innovative infrastructure development" (video of the first day of the forum is available).
According to Igor Agamirzian, CEO of RVC, Asia-Pacific region is taking significance both for Russian and global economy. "It is extremely important for Russian technology ecosystem to be included in the global system and to find its way in this market, also through integration of international capital in Russian companies," — explained RVC’s General Director.
Jin Taek Park, Head of Korean Venture Capital Association, declared readiness to "start cooperation for establishing investment funds" at the Forum.
The APR delegation visited RUSNANO (en.rusnano.com) and Skolkovo headquarters on October 3. Anatoly Chubais, CEO of RUSNANO together with RUSNANO’s managing directors informed the delegates about the company activities and outlined prospects for cooperation. Access to the company’s extensive scientific and technical expertise, co-financing and assistance in organizing research and production entities in Russia are few of opportunities suggested by RUSNANO.
In Skolkovo headquarter Asian investors met residents of Skolkovo Innovation Center. Resident companies presented their projects in the field of IT, energy efficiency, bio-medical and space technologies. Skolkovo is looking for cooperation with Chinese funds in terms of investments and operational business.
Moscow City Day was organized on October 4 in the framework of the Forum. Representatives of Department for science, production policy and entrepreneurship of Moscow Government spoke to representatives of venture funds from China and South Korea on innovation and investment potential of the Russian capital. Besides, Moscow "Innovation Development Center" was presented at the Forum. Department for science, production policy and entrepreneurship of Moscow Government was a partner of the forum.
Russian Association of venture investments (RAVI) and China Venture Capital and Private Equity Association (CVCA) signed a memorandum of cooperation and understanding on the same day, October 4. The memorandum "will promote cooperation in support of innovation and transformation of intellectual and educational resources into commercial ones”.
“We look forward to the intensification of contacts with our Chinese colleagues who have already shown great interest in our projects. In our turn, we find their experience in investing into innovations to be extremely useful,” — said Albina Nikkonen, RAVI Executive Director.
"We believe that strengthening of such cooperation will play an important role in the development of self-regulation of the industry, experiences sharing, uniting capital, and creation of new businesses," — noted Zhiqun Shen, executive Vice-President of China Venture Capital and Private Equity Association.
Russian representatives of venture market will keep working contacts with the Chinese partners within venture trade fairs held annually by RAVI since 2000 and being the central annual event for the professionals of the domestic market of private equity and venture investments.
First Forum in 2010 interested American partners in venture investments and innovations; the second one in 2011 attracted European colleagues. These visits resulted in hi-tech investment projects of more than $1bln.
Asian countries face a period of rapid growth of venture financing. Chinese market has shown the most significant growth rate of venture investments. In 2011, 382 new venture funds reached an outstanding amount of investments into Chinese companies — $28,2 bln, which is 2,53 times higher than in 2010. Twenty of these funds manage over $100 mln.
In 2011 China set a record in the number of investment projects and volume of investments. Chinese investments have reached the European level of investment for the first time ever. Chinese investment market will continue its rapid development in future.
Korean venture market started growing in 2000s, and this trend is still in progress. Korea takes a high position by proportion of venture capital investments and GDP, being one of the largest venture capital markets among other Asian countries.