25 September 2009

Innovation, venture, talk shop...

Innovations for saleDenis Zhuikov, STRF.ru
After the end of the financial crisis, it may turn out that Russia will either become even more dependent on the global energy situation, or, on the contrary, it will become modern and economically stable.

If you choose the second option, it is necessary to develop the high-tech sector. The processes related to the development of technological business should not only meet the needs of the innovative sector of the economy, but also work for the future. Venture capital becomes the most affordable source of extra-budgetary financing for innovative enterprises in a crisis. Participants of the venture fair at the Moscow President Hotel talked about how to create the most suitable conditions for the development of small and medium-sized innovative enterprises, how to introduce innovations in the economy.

The first Russian Venture Fair was held at the Moscow State University Science Park in December 2000. Then, for the first time, Russia demonstrated its desire to attract venture capital investments in high-tech business. Since 2005, the Fair has been held jointly with the Russian Venture Forum, a congress block aimed at developing business investment infrastructure on a national scale. Now the Fair and the Forum have grown into international events. Every year they gather a representative and interested audience of domestic and foreign professionals. Among the participants are managers and partners of the largest Russian and foreign venture funds and private equity funds, leading top managers of investment companies and banks, heads of large financial structures, top officials of international corporations, directors and partners of Russian and foreign exchanges.

What to do?Answer the classic question "What to do?"

Anatoly Chubais, CEO of Rosnanotech Group, Anatoly Karachinsky, President of IBS Group of Companies, Andrey Sharonov, Managing Director of Troika-Dialog Group of Companies, and other participants tried to participate in the open studio "In Search of the Russian stratagem". Anatoly Chubais pointed out that in fact, all the obstacles to the development of an innovative economy were actually created by the state itself. According to him, only recently a political request of due force appeared on the part of senior officials, which should overcome all the difficulties of the "zero period", and still make the economy innovative. However, in order to move forward, extensive reforms are needed, and no less than those that took place in the early 90s. "For example, in the same electric power industry," he said, referring to the privatization of generating capacities.

Anatoly Karachinsky believes that the main task of the government should be the improvement of legislation (first of all, tax), as well as the creation of "normal conditions for normal business development." Until such a base is created, all efforts from above will be doomed to failure, and billions of dollars allocated by the budget for the modernization of the economy will go "nowhere". After all, investing in something that doesn't exist yet is simply meaningless. "Until business conditions are created, it is hardly worth talking about serious development of innovations in the Russian economy," Mr. Karachinsky is sure. Therefore, he believes, all the arguments about modernization and innovation remain arguments.

Ventures for everyoneOne of the central events of the first day of the fair was the signing of a partnership protocol between the Russian Nanotechnology Corporation, the Russian Venture Company and the Russian Association of Direct and Venture Investment (RAVI).

The goal is to develop the information environment in the field of venture entrepreneurship within the framework of the Internet Portal "Venture Russia". The protocol notes that the parties will "strive to coordinate efforts in the field of information support for the processes of promoting the development of entrepreneurial activity in the technological innovation sector and the venture investment system in order to inform Russian investment applicants about the mechanisms of venture investment, increase the attractiveness of alternative investments as a business development tool and expand communication opportunities for investors and investment applicants." After the signing, the head of Rosnanotech noted that he does not exclude that financial assistance will be provided to the project in the near future. However, the amount has not been named. It is also not clear yet whether a fee will be charged for posting information on the portal, but if they will be, then it will be "purely symbolic".

Innovative Russian companies that have just completed the startup period have another problem with time: what to do with the business next? After all, there is simply no demand in the domestic market for them. Within the framework of the round table "Venture Capital – Russian medium-sized businesses", its participants clearly identified the problem: even a successful startup company, in general, has nowhere to go: large businesses do not need them, and it is almost impossible to survive independently, to form the market themselves. As Oleg Kachanov, the General director of Ai-Man Capital Management Company, noted, large capital in Russia prefers to produce everything necessary inside the company, without outsourcing anything. The reluctance of big business to buy innovations is one of the key problems. It is quite natural that both inventors and young innovators, having "pushed around" in bureaucratic offices, sell the idea-technology-company abroad, or leave the Russian Federation themselves.

However, not everything is so bad: the fair hosted a presentation of the MICEX platform "Innovation and Investment Market", focused on bringing high-tech companies to the stock market, which should help the country move to the "innovative path of development". It is expected that the platform will become an important tool for creating a favorable environment for attracting investment in the innovative sector of the Russian economy. According to Gennady Margolit, Vice President of MICEX CJSC, the exchange itself will not receive any dividends from the withdrawal of young companies to a new platform. The main idea is to work for the future: in the future, these companies, in theory, will be enlarged, and move from the IRC to the main site. And although four companies are currently trading on the IRK site, Gennady Margolit is confident that in the future their number will increase significantly, and the Russian site will become attractive not only for Russian companies and investors, but also for foreign ones.

Portal "Eternal youth" http://vechnayamolodost.ru
25.09.2009

Found a typo? Select it and press ctrl + enter Print version