RVC, Indian Science and Technology Entrepreneurs Parks and Business Incubator Association (ISBA), and Global Venture Alliance (GVA) plan to join their efforts in the technology area to gain mutual benefits for both countries. The Agreement was signed by Mr. Yevgeny Kuznetsov, RVC’s Acting CEO, Ms. Poiny Pkhatt, ISBA’s Authorised Representative, and Mr. Zamir Shukhov, GVA’s CEO & Partner.
The parties’ objective is to work together to promote and assist each other in technology commercialisation, share experience and practices of supporting small and medium-size businesses, and generate a plan to implement joint programs.
Further, PVC, ISBA and GVA are going to hold joint workshops and forums aimed at development and strengthening of partnership between investors and beginner entrepreneurs of both countries. The parties intend to implement projects aimed at development of mechanisms for technology commercialisation within industry sectors of interest in Russia and India.
At the moment, PVC actively cooperates with the Indian Innovation Ecosystem. Unmanned transport technology, smart energy, smart city, biotechnology, food technology, new materials and chemical components, in particular, for aerospace industry are the priority interests for cooperation.
RVC is the government fund of funds and the development institute of the Russian Federation. RVC’s main objectives are as follows: promotion of Russia’s own venture investment industry, and playing the role of a National Technology Initiative’s (NTI) project office. RVC’s authorised capital is over RUB 30 billion and is 100% owned by the Russian Federation represented by the Federal Agency for State Property Management (Rosimushchestvo). The total number of funds created by RVC has reached 21, with a total size amounting to RUB 32.4 billion. RVC’s share is RUB 19.9 billion. The number of innovative companies approved for investment by RVC funds has reached 196. The total amount of approved investments is RUB 18.4 bn.
Global Venture Alliance (GVA) is an international company, which develops the global innovation ecosystem by creating an accelerator for growth of startups, holding business trainings for entrepreneurs and investors, providing advisory and service support for projects and corporations, establishing international venture funds, and global network of high-tech experts under the same brand. Over the last three years, GVA has gathered around over 500 leading experts in business development; its unique methodologies allowed launching over 250 startups with a success rate of over 65%. GVA’s graduates attracted over $25 million of venture capital and direct private investments, created more than 800 jobs and achieved total capitalisation of more than $ 130 million. GVA runs three venture funds and 38 portfolio companies. The total value of the funds is $70 million.GVA has organised over 230 events with over 20,000 participants from different business areas (entrepreneurs, investors, corporations, authorities), and in 2016 GVAHUB platform was opened, which includes an equipped business event hall, and two coworkings for startups.
Indian Science and Technology Entrepreneurs Parks and Business Incubator Association was established in 2004 under the auspices of the Department of Science & Technology, Government of India. Today it includes over 70 member organisations. Its main objective is to promote business incubators development in the country through closer cooperation, exchange of information, sharing of experience with state and private organizations engaged in the promotion of entrepreneurial activities.