On July 14, it was officially allowed for the candidates to start filing applications for the post of CEO of RVC Fund. The event was confirmed at TASS press conference by Oleg Fomichev, the Deputy Minister of Economic Development of the Russian Federation, Chairman of RVC Board of Directors and Dmitry Peskov, Director of Young Professionals Division of the Agency for Strategic Initiatives, Member of RVC Board of Directors.
The closing date for filing applications is August 15 2016.
For the first round the candidates are to prepare a proposal on RVC strategy for 2017-2020 and later years. The proposal should outline solutions to problems pertinent to implementation of the National Technology Initiative ( NTI ), development of venture capital market and ecosystem for the sake of national technological progress.
The files are to be presented in the format of a presentation with 10 slides and an essay of 10 pages max. The applicant will gain an additional advantage if they act on behalf of the team, willing to implement the proposed NTI strategy. By August 25, 2016 the expert commission of experts will have selected the application for the final intramural round, which will take place in early September .
Oleg Fomichev outlined basic requirements for the candidates:
The successful candidate should demonstrate professional knowledge and competence of managing top-level technological companies, venture capital funds , private equity funds , etc. It is imperative the candidate should have broad expertise in understanding the modern trends which determine the development of science and technology, which contribute to emergence of new markets. As venture market is global by definition, separate requirements to the candidate will concern skills of international negotiations, awareness of global advancement in science and technology, experience of cooperation at international level .
Dmitry Peskov supposed that no less than 500 applications will enter the competition. He noted that
this competition is expected to deal with teams rather than personalities because only teamwork can bring forth competent solutions to problems facing RVC Fund and the country in general.
RVC is not just a stock company, it is a development institution whose mission together with Ministry of Economic Development other authorities is to remove constraints hampering the development of venture capital market and creation of favourable conditions for private investment ," — said Oleg Fomichev . The Deputy of Russian Ministry of Economic Development informed that RVC will introduce a new consultative body, the Market Council, that will be composed of representatives of venture capital industry. Market Council will consist of 20-30 people .
Previously, we sought to avoid clashes of interest in the activities of RVC fund activity so we did not introduce any advisory organ or market investors in RVC general management . Today the focus has shifted strongly towards creating venture capital ecosystem and we find this trend counterproductive because we cease to understand market. Therefore, we are changing the structure , " — said Oleg Fomichev
The council will include Russian players of global venture capital market.
We need an institution capable of delivering real-time feedback from the market. It will be monitoring market situation with the purpose of detecting obstacles or state-concerned issues — said Oleg Fomichev
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.
For further information, please contact:
Public relation service of RVC OJSC
tel.: +7 (495) 777-0104, e-mail: email@example.com