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Moscow holds the first Russian-Chinese "Investing in Innovation" Forum

19.09.2016
Moscow holds the first Russian-Chinese "Investing in Innovation" Forum

On 15-16 September 2016, the first Russian-Chinese "Investing in Innovation" forum was held in Moscow. The event has become an effective platform for dialogue between professional investors in Russia and China.

At the opening ceremony, the State Secretary — Deputy Minister for Economic Development Oleg Fomichev — emphasized that in 2016 a joint Russian-Chinese Coordination Commission on innovation cooperation was created.

This is a new instrument to support joint initiatives. It is necessary to establish full cooperation between the two countries, said Oleg Fomichev.

According to him, Russia and China have identical priorities in innovation development: information and communication technologies, robotics, nanotechnology, medicine and biotechnology.

In his welcoming speech to the forum participants, the Acting General Director of RVC Evgeniy Kuznetsov noted that there had been many positive developments in the Russian innovation sphere before. In particular, Russian technology start-ups have been increasingly successful in their entering the international markets: portfolio companies with capital funds of RVC, the percentage of sales growth in the international markets is about 60%. In addition, this year, one of the Chinese investors has invested 30 million US dollars in the portfolio company RVC Seed Fund Risilika. He added that RVC puts a great deal of emphasis on the development of infrastructure facilitating local and international investors to interact with the most promising Russian projects.

One of the basic tools — programs of acceleration, allowing investors to work with the widest range of promising start-ups. In particular, we carry out the country's largest accelerator — GenerationS, and we will be happy if the Chinese partners will work with its pool of projects. Another key trend is the development of corporate venture funds. Last year, a roadmap for the development of corporate venture funds was adopted, and we have reached an agreement with several local corporations literally over the last few months, and we are currently in for launching corporate venture funds (CVF) with them. In this way, large companies come to the venture market and begin to work with promising technologies. We hope that our CVF will become important partners for China's, said Evgeny Kuznetsov.

He also emphasized the importance of technology start-ups and venture capital funds in universities.

In turn, the representatives of the Chinese delegation noted the need for cooperation in the field of innovation between the two countries. The Chairman of the Strategic Cooperation Union in the development of high-tech industries in the Eurasian market Xu Xiaoping thanked RVC for the development of cooperation between the two countries in the field of innovation.

We have conducted many fruitful meetings. Perhaps, Russia has never been visited by such a representative delegation of investors before: overall, its participants invested more than 1.5 billion US dollars. We must continue to hold such forums, where new joint projects will occur, and the understanding of the interaction will appear, said Xu Xiaoping.

The first day of the Forum continued into a panel discussion "The Russian Investment Landscape," which was moderated by Deputy General Director — Chief Investment Officer at RVC Andrey Vvedensky. The next block — "Investment Landscape in China" — was held with the participation of the Chairman of the Board of Shenzhen Capital Group Ni Czevan and other experts.

Evgeny Kuznetsov moderated the session called "State support for innovation in Russia." Within this block, the acting CEO of RVC explained the role played by RVC in the Russian innovation ecosystem, and also noted that, in Russia, there has been created a system of institutions for the development and support of companies, which allows investors to quite effectively search for and select companies as well as to interact with technology developers.

The country has real preconditions to begin its successful technology development. This includes: good fundamental science, leading position among the countries as to scientific publications, sufficiently advanced technology in weaponry, space, aviation, materials, lasers and, of course, in mathematical algorithms. The country is developing university science, organized on the principles of the modern world, emphasized Evgeny Kuznetsov within the framework of the discussion.

During the second day of the Forum, a number of round tables and presentations of the leading world experts in the field of technology and investment was held. The main topic of the panel discussion was the current state of the Russian and Chinese investment landscape and the venture capital market, especially cooperation between the two countries in the field of technology, as well as the legal aspects of foundations and organization of cross-border transactions.

During the two days of the forum, over 200 representatives of the investment community attended the event. At the working meetings with the key players in the Russian investment market, the participants of the investment community have discussed cooperation on the creation of mutual funds, the participation of Chinese investors in Russian technology companies, joint projects on entering the Chinese and Russian market, and experience exchange programs.



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