RVC and the National Research University "Higher School of Economics" in collaboration with PwC company have launched the collection of applications for TechUp 2016, the annual national rating of fast-developing high-tech companies. Applications will be accepted until August 1st 2016.
The TechUp rating has been organized annually since 2012. It is aimed at identifying and promoting promising fast-evolving companies which develop and distribute innovative products and technologies in domestic and global market. These "technological gazelle" companies are capable of creating fundamentally new technologies and building new markets. Consequently, they are essential for the development of Russian economics.
In 2013 PwC joined TechUp as a partner and brought its international experience into improving the assessment methodology for the rating.
The participation in TechUp 2016 rating will also become the first selection round of the MEDT of Russia's priority project aimed at supporting private high-tech leading companies. The project sees its goal in providing MFN conditions and focused support to companies in various industries. Having achieved considerable successes by creating and implementing cutting-edge technologies, these companies have the significant potential of gaining a foothold in domestic and foreign markets. They are going to push forward Russian economy.
Furthermore, the companies participating in the rating will be additionally supported by various development institutions (RVC, Skolkovo, FRP Fund, Foundation, MSP Bank , MSP corporation , Russian Export Center), gain access to advisory bodies of relevant government agencies and increase awareness of their brands.
Evgeny Kuznetsov, acting CEO of RVC OJSC:
TechUp rating is a mechanism for identifying promising hi-tech companies and reviewing performance of present-day Russian innovation market. It provides opportunities for further development of innovation sector and reckons the needs of a growing technology business.
Artem Shadrin, Director of MEDT of Russia's Social Development and Innovation Department: "MEDT of Russia are currently assessing project operating methods. The mainstay, implemented under this concept is the priority project aimed at supporting private high-tech leading companies. Its implementation looks towards creating by 2020 at least 10 Russian private high-tech companies with a turnover of as much as $ 500 million each and two companies with a turnover of at least $ 1 billion. Moreover, high-tech export of at least 15 companies is expected to be increased fourfold by 2020. The project activities have already started. It is planned that the selection of 30 participating companies will be based on TechUp rating. As part of the competitive selection, the first half of the participants will be selected among the winners of TechUp ratings which were held in the last three years, the other half will be selected among the winners of TechUp rating 2016 " .
The TechUp rating of 2016 has raised for its participants the upper limit of revenue value from 10 to 30 billion rubles. This step will engage in the rating more companies that fall under the internationally accepted criteria of "hidden champions".
The companies will be assessed by an updated methodology: The overall rating will be uniform so that the winners can be selected on the basis of integral criteria . However, the companies will still be assessed by the criteria of size, growth rate and innovativeness. The participants' export potential will be assessed separately. The rating will be further subsegmented by the size of the companies . Thanks to this division, the final result will be taking into account differences in the size of the companies.
As the survey conducted on the TechUp 2015 participants has shown, 38 % of the companies formed themselves into holdings, "groups of companies" which can be regarded as a single economic complex . The TechUp of 2016 has taken heed of this nuance: now the companies can decide whether to participate on behalf of a stand-alone company or holding. Furthermore, the analysis of an extended period will be carried out retrospectively.
Andrey Ekimenko, Director of Corporate Finance Department at PwC Russia:
We comprehensively analysed how the TechUp rating was drawn up in the previous years and took heed of all comments and suggestions. The rating is following the market trends, it is learning and evolving together with its participants. This adaptive approach helps to achieve the primary goal, for which it was created: Promote leading companies that incite transformation of the Russian economy.
Alongside the preparation of the rating, the HSE will conduct a study into how fast-growing mid-cap companies are supported worldwide, what results they have achieved and what difficulties they have encountered. For this purpose it is planned to contact directly the supervisors of global support programs in order to exchange experience in implementing enabling mechanisms.
The results of TechUp 2016 rating will be announced in November 2016.
HSE Contacts concerning participation in TechUp rating:
tel .: +7 (495) 664-98-77, firstname.lastname@example.org
RVC, OJSC is a state fund of funds, the development institution of the Russian Federation, one of the key tools in building its own national innovation system. The authorized capital of RVC is more than 30 billion rubles. RVC's capital is owned in full by the Russian Federation represented by the Federal Agency for State Property Management of the Russian Federation (Rosimushestvo). The total number of RVC funds has reached 21 with their total size of RUB 32.3 bn. The share of RVC is RUB 19.9 bn The number of innovative companies approved for investment by RVC funds has reached 195. The total volume of approved investments is RUB 18.3 bn. Since 2015, RVC OJSC has been defined as a project office for implementation of the National Technology Initiative (NTI) — the long-term strategy of the country's technological development, aimed at formation of new global markets by 2035.
The National Research University Higher School of Economics (HSE) is one of the leading universities in Russia. The university carries out its mission by conducting scientific, educational, expert-analytical and social projects, keeping in line with the international scientific and organizational standards. The university examines and develops government programs and strategies, it also carries out analytical projects by order of major companies.
As far as TechUp project is concerned, it is the Institute of Innovation management (IIM HSE) that was charged with executing direct activities pertaining to the rating. The Institute was founded as part of the HSE in 2009 in order to carry out research and educational projects in the innovation sector of Russian Federation. The tasks of the Institute of Innovation Management include:
PwC Russia provides the following services: audit, business consulting, tax and legal services. Its clients include companies operating in various industries. So, every day, more than 2,500 professionals are employed in PwC offices in Moscow, St Petersburg, Ekaterinburg, Kazan, Novosibirsk, Rostov-on-Don, Krasnodar, Voronezh, Vladikavkaz and Yuzhno-Sakhalinsk. We use our knowledge, in-depth experience, and creative approach to develop practical advise and solutions opening new business opportunities. Global PwC network joins over 195 000 employees in 157 countries.