In 2012, RVC has Implemented a Program to Secure new Investments on Venture Market and to Support new Innovation-Based Startups
MOSCOW, December 21, 2012 /PRNewswire/ --
OJSC RVC, which is a government fund of funds and Russian development institute, has implemented a special program to secure new investments on venture market and to support new innovation projects in medical science and biotechnologies, energy efficiency, information technologies and telecommunications. The program implied a large discussion of businesses models and prospects of more than 600 innovation start-ups. The discussion involved more than 1,000 investors from Russia and other countries, including investment and industrial companies, private equity funds and venture funds, insurance companies and financial institutions.
Igor Agamirzian, CEO and Executive Committee Chairman of OJSC RVC: "Nowadays, the Russian market has a fully developed pool of investors built in the innovation infrastructure. This pool comprises mostly investment/financial companies and private equityfunds. RVC's goal is to broaden the innovation market with new members - strategic and long-term investors, including industrial and insurance companies, and family offices. Private capital inflow to the venture market will allow lowering the government financial participation, diversifying risks, and stimulating technological development."
To allow the most efficient communication between investors and startuppers, RVC sponsored some leading innovation and industry conferences and hosted a series of special meeting sessions for venture capital investors. During these events, the innovating developers presented their projects and negotiated for a financial support; and the venture capital investors gave the developers some specific suggestions for business model improvement. The main events included conferences organized by the Vedomosti, leading Russian business daily, Adam Smith Institute and TechCrunch Moscow. Also, RVC helped eight startuppers from different Russian cities to participate in field business incubator, the Startup Access, which took place in Boston (MA, USA) in October 2012.
For the RVC investment securing and innovative e startup support program, the key event proved to be the Moscow International Forum for Innovative Development "Open Innovations". During the forum, RVC arranged the series of special events named "RVC Smart Future: InvestDay". InvestDay, running from 31 October to 2 November, comprised a series of panel discussions, master classes, round tables and informal meetings which were attended by more than 1,000 guests, including current and prospective investors in innovative projects. One of the InvestDay events, namely "LP Unlimited. Limited Partnership: Strategic Development through Venture Capital", became the most popular event in special program of the "Open Innovations" forum. It was attended by 135 guests. Also, the event "LP Unlimited. General Partnership: Success Story" proved to be a great success with the forum guests.
About OJSC RVC
PJSC RVC is a government fund of funds and the Russian Federation development institute, one key government tools for building its own national innovation system. RVC's authorized capital is RUB 30 bln. It's 100% Russian Federation owned. All in all, RVC has backed 12 funds to a total capitalization of RUB 26.1 bln. RVC's share amounts to RUB 16 bln. RVC backed funds run a portfolio of 126 companies, invested capital totalling more than RUB 10.8 bln.