The Firrma publication
reports that the Russian Venture Company (RVC) has accepted a proposal for organizing a Russian-Belarusian venture fund. This could strengthen the relationship between Russian and Belarusian innovative companies and make their cooperation more efficient.
Currently, RVC is consulting on the regulatory framework regarding venture investment in the Republic of Belarus.
“Since August 2014, RVC has been developing cooperation with the State Science and Technology Committee of the Republic of Belarus and the Belarusian Innovation Fund on a wide range of issues of innovative development,” says RVC Managing Director Roman Kosyachkov.
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The cooperation was initiated by the chairman of the State Committee on Science and Technology of the Republic of Belarus, Alexander Shumilin. He appealed to RVC management with a request to support the venture capital industry.
“Belarusian partners are interested in the participation of representatives of the republican technology community in RVC initiatives and projects aimed at developing an innovative business ecosystem, such as Regional Practical Consulting Sessions (RSPC), Generation S Accelerator and others,” Kosyachkov adds.
“Belarus needs to create and develop venture financing at a fast pace. For this, the most preferable in terms of efficiency - in terms of return on investments and terms - is the implementation of the classical scheme of the state fund of venture funds based on the Israeli model 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 fully owned by the state. For the history of its existence, RVC has formed 18 funds. Their total amount amounted to 26 billion rubles. RVC funds invested 168 innovative companies totaling 15.2 billion rubles.