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MIL OSI Translation. Region: Russian Federation –

First Deputy Prime Minister Andrei Belousov spoke at the session of the St. Petersburg International Economic Forum – 2021 “Venture Economy of Developing Countries”.

Andrey Belousov spoke about the main directions of development of venture entrepreneurship in Russia.

“The first thing we are going to do is create a friendly regulatory environment in terms of the circulation of rights and results of intellectual activity.

Second, we need to gain experience in assessing the risks of technology entrepreneurship and assessing added value. Here I am hoping for the establishment of the Fund of Foundations. In our country, this is the first systematic attempt to create a public-private partnership in this area. We will launch this structure in the second half of the year.

The third is the acceleration funnel. We have development institutions that cover almost all stages of a startup’s development. We are creating a system that includes five main development institutions. It works in the following way. If a technology startup at some stage received support from one of the development institutions, this serves as an additional argument for obtaining funding at further stages of development. Thus, we expect to reduce the risks of this movement.

The fourth is the exit task. This year, an appropriate segment for the IPO of technology startups will be created on the Moscow Stock Exchange. And we will create a Russian analogue of the Nasdaq, which will serve as a reference point for investors.

I am one of those who believe that takeovers are a definite blessing in terms of a startup’s exit. We started working in this direction. Including this is the creation of a product for growing a startup in its mature stages, so that it can be absorbed by a large company. Such a product is absolutely essential.

The latter is that all market players must understand, and the state must tell where to run. We need beacon projects. We have formulated these projects. I think we will launch them. These are large market projects. These are the production of electric vehicles, 5G and 6G, the creation of medical gadgets, the creation of the first commercial unmanned traffic, autonomous navigation, unmanned cargo delivery, the creation of a line of medical equipment and a line of aviation equipment. Behind each of these products are markets that are understandable to investors and a set of end-to-end promising technologies. ”

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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