The Russian Government intends to increase the demand from state and state-owned companies for innovative products

This was stated by Artem Shadrin, Director of innovation development department of the Ministry of Economic Development, in his speech at the forum "Global Innovation Partnerships 2012", held on October 2–4 in Moscow.

According to Mr. Shadrin, one of the key directions of the Ministry is the increase in the state demand for innovative products.

"We have carefully studied the experience of Korea, which pays considerable attention to this issue, and now a number of Russian regions started stimulating demand for innovative products, ensuring long-term ROE and survival of small and medium businesses. Along with the regions, it is also an initiative of the federal government," — he added.

He reminded that at the moment there are 25 innovative clusters in a number of Russian regions, ensuring "efficient interaction between scientific, educational centers, small enterprises and big companies".

The department head also noted that in State Duma a draft law has been prepared on the federal contract system establishing necessary prerequisites for such depend.

"The second line of activities is increasing of demand on the part of the Russian major state companies. Gazprom, RZD, Rosneft, Rosatom, as well as a number of other Russian major companies have adopted a program of innovative development, providing for a significant growth of expenses for research works and new technologies development," — Shadrin said.

According to Artem Shadrin, one of conditions for realizing these programs is procurement of products from small and medium innovative enterprises.

Artem Shadrin reminded that the Russian Ministry of Economic Development makes a point of venture financing development. "It is not only an instrument of high-technology economy, but also one of the most important tools of social and economic development of the country as a whole", — he said.

Shadrin noted that Russian authorities take steps to establish "innovation lifts from development institutions" ensuring various forms of financial and consultancy support at various stages of innovative project development.

Participants of "Global Innovation Partnerships 2012" Forum (GIP 2012) are about 30 representatives of venture funds and investor associations from Hong-Kong, China and Republic of Korea. Among them: CITIC Capital Holding; SAIF Partners; CDH Investments; Northern Light Venture Capital; Shenzhen Capital Group Co., Ltd; Sequoia Capital China; China Venture Capital and Private Equity Association; STIC Investments and Korean Venture Capital Association. They manage funds exceeding $800 bln dollars. Forum is organized by RUSNANO, RVC and the Skolkovo Foundation. The goal of the Forum is to assess perspectives of investments in Russian high-tech projects.

First Forum in 2010 visited 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 $1 bln.

Search by name:

Search by date:

Select date in calendar
Select date in calendar