On November 10, Deputy General Director — the Investment Director of RVC, Alexey Basov, spoke at the Bank of Russia's next strategic session to discuss the Consultative Report “Development of Alternative Investment Mechanisms: Direct Investment and Crowdfunding”. The event was dedicated to the formation of an ecosystem for supporting innovations and start-ups.
The discussion was attended by Deputy Minister of Economic Development of the Russian Federation Vladislav Fedulov, Executive Director for the Innovation and Investment Market of the Moscow Exchange Gennady Margolit, General Director of Skolkovo Ventures Vladimir Sakovich, Head of the Moscow Innovation Cluster (MIC) Fund Anatoly Valetov and Director of the HSE Business Incubator Mikhail Erman. The session was moderated by Ivan Zimin, Director of the Financial Technologies Department of the Bank of Russia.
Alexey Basov spoke about the opportunities for the development of fintech start-ups in Russia. The expert noted that fintech traditionally focuses on most Russian market funds, corporate funds, and development institutions. As many as 90% of funds have an opportunity to invest in fintech, and they actively take it.
Simultaneously, the sector's peculiarity is associated with the “revolutionary DNA” that is present in most fintech companies. They are still in the “gray” regulatory zone, so funds with state capital participation are somewhat cautious about such transactions.
The second aspect is associated with creating an investment lift for innovative projects, including fintech.
Now companies are in a classic market situation when they are forced to maneuver between investors, development institutions, state and private funds.
The third factor that influences the development of domestic fintech start-ups is the market environment.