210 billion rubles over 5 years: what did the state funds spend on?

A report on the investments of Rosnano, the Russian Venture Company, Skolkovo, the Innovation Assistance Fund, the VEB Innovations Fund and other state funds has been published on the website of the Russian government. For 5 years, these organizations have invested about 210 billion rubles. in 20,000 innovative companies.

At the same time, the revenue of startups that received state support amounted to 839 billion rubles, of which 71 billion rubles. was exported. Officials say that thanks to investments in Russia, they managed to create the third largest venture capital investment market, with a total volume of $ 480 million.

“The established development institutes managed to solve the assigned tasks on the formation of a search system, selection and support of promising innovative projects. Currently, the primary task affecting the efficiency of the created innovation infrastructure in general is to stimulate demand for innovative products supported by the development institutions of companies, including their active involvement in import substitution programs in the most important sectors of the Russian economy, ”the government report says.
')
This year, the budget of the Innovation Promotion Fund increased 2.2 times, reaching 8.5 billion rubles. Funds of the Fund are used to finance startups in the early stages of development.

Nevertheless, the total volume of venture capital investments in Russia decreased by 26% in 2014, reaching $ 480.9 million in dollar equivalent, writes Secretmag.