On September 26, 2019, the 4th Russian-Chinese “Investing in Innovation” Forum was held in Moscow. The Forum brought together more than three hundred representatives of companies and foundations, including China Aviation Industrial Fund, TechnoSpark Beijing Science and Technology, Chuanfeng Investment Management Company, LLC, Leader, CJSC, Shenzhen Capital Group and the Russian-Chinese Venture Fund. The Forum guests discussed issues of joint commercialisation of innovative products and the creation of venture capital funds. A separate thematic track of the Forum was artificial intelligence.
Opening the Forum, RVC General Director Alexander Povalko noted that the field of innovation remains one of the main points in the development of partnership between the two countries.
RVC Investment Director Alexei Basov presented the Chinese investors with an overview of Russian investment landscape and told about RVC's work with foreign funds:
Peng Zhen, the General Director of Chuanfeng Investment Management Company, LLC, shared his experience of organizing a private investment platform for high-tech start-ups. His Chuanfeng Foundation was created in 2012 on the border with Russia, near the city of Blagoveshchensk.
Boris Galkin, the General Director of TechnoSpark Beijing Science and Technology, told how he brings Russian companies to the Chinese market:
Among the main obstacles to effective cooperation, the panellists noted weaknesses in the regulatory system of both countries, problems with intellectual property, as well as cultural differences.
Su Jing, the Deputy Director of the Pue business incubator, told about the incubator, which aims to transfer technologies from Russia to China and commercialise them on the local market. According to her, the volume of private and public investment in projects that have passed the incubator has reached $20 million and will grow:
Chen Liang, Deputy Director of the Research Institute of High-Tech Equipment at the Polytechnic University, added that Russia and China should cooperate, including in the areas of real production and R&D. The work of the Zhenjiang branch is aimed at enabling businesses to use innovative start-up designs in production:
Mikhail Antonov, Director for Development of Innovative Infrastructure of RVC, said that RVC is doing so that Russian and Chinese start-ups can cooperate more effectively. He cited two cases as vivid examples. The first one is cooperation between Russia and China within the framework of the NTI Competence Centres. These are 14 consortia based on educational and scientific organizations; each of them specializes in a certain cross-cutting technology: artificial intelligence, quantum technology, augmented and virtual reality, and others.
The second case is an export accelerator for Russian companies wishing to enter foreign markets. RVC selected 15 technology companies and prepared them to enter the markets of Southeast Asia. Of these companies, eight chose China.
Shao Yuanchen, director of the Shenzhen Stock Exchange, also shared the importance of cooperation. He noted that the exchange is ready to serve as a platform for contacts of Russian business with local investors:
Igor Pivovarov, chief analyst at the Centre for Artificial Intelligence at NTI based at the Moscow Institute of Physics and Technology, presented an overview of the AI industry in Russia and spoke about the opportunities for cooperation between Russian business and Chinese companies:
Zhang Usuy, the Director of the International Development Department of iFlytek (leader in the field of AI-based speech technologies in China) noted that high-quality translations play an important role in the implementation of joint projects:
At the end of the session, Igor Pivovarov proposed combining strong technology teams from Russia with business teams from China. In his opinion, this could lead to the emergence of new fast-growing start-ups with high capitalization:
RVC, the China Torch Eurasian Cooperation Union and the Venture Committee of the All-China Association of Financial Assistance to the Development of Science and Technology with the support of the Ministry of Economic Development of Russia and the Ministry of Science and Technology of China organized the Russian-Chinese Forum “Investing in Innovation”. The event is held annually since 2016 in accordance with the memorandum on cooperation in the field of innovation, signed between the Ministry of Economic Development of the Russian Federation and the Ministry of Science and Technology of the PRC. In September 2016, the Forum was held in Moscow, in June 2018 — in Harbin.