RVC will create a venture fund in the Republic of Belarus

    Firrma reports that the Russian Venture Company (RVC) has accepted the proposal to organize a Russian-Belarusian venture fund. This could strengthen relations between Russian and Belarusian innovative companies and make their cooperation more effective.

    Currently, RVC is consulting on the legal framework regarding venture capital investment in the Republic of Belarus.

    “Since August 2014, RVC has been developing cooperation with the State Committee for Science and Technology of the Republic of Belarus and the Belarusian Innovation Fund on a wide range of issues of innovative development,” says Roman Kosyachkov, Managing Director of RVC.

    The cooperation was initiated by the Chairman of the State Committee for Science and Technology of the Republic of Belarus Alexander Shumilin. He appealed to the management of RVC with a request to provide support to the venture investment industry.

    “Considerable interest among Belarusian partners is the opportunity for representatives of the Republican technological community to participate in RVC initiatives and projects aimed at developing an ecosystem of innovative entrepreneurship, such as Regional Practical Consulting Sessions (RSPK), Generation S Accelerator Competition and others,” adds Kosyachkov.

    “In Belarus, it is necessary to quickly create and develop venture financing. For this, the most preferable from the point of view of efficiency - in terms of return on investment and timing - seems to be the implementation of the classical scheme of the state fund of venture funds based on the Israeli model of Yozma. Analogs of this model are implemented in a number of countries, including Russia, ” notes Shumilin.

    The volume of the authorized capital of RVC OJSC exceeds 30 billion rubles. The company is wholly owned by the state. Over the history of its existence, RVC has formed 18 funds. Their total volume amounted to 26 billion rubles. RVC funds have invested in 168 innovative companies totaling 15.2 billion rubles.

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