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February 14, 2019

"VEB Innovations" and NATT will help startups find consumers

VEB Innovations and the National Association for Technology Transfer (NATT) signed a cooperation agreement at the Russian Investment Forum in Sochi. According to the signed document, the parties will develop innovation infrastructure in the regions, including through the formation of a regional network of venture capital funds and the establishment of interaction between technology start-ups and corporations.

"VEB Innovations and NATT agreed to actively cooperate within the framework of the program to create a network of venture funds in the regions of the Russian Federation to provide comprehensive support for high-tech projects, including expertise of technological ideas, financing, search for potential partners and consumers, among public and private corporations. By bringing together the leading participants of the technology transfer process in Russia, NATT will enable regional startups to establish cooperation with federal and regional universities, regional branches of the Russian Academy of Sciences, private and public corporations.

The agreement provides for a wide range of joint activities aimed at increasing the efficiency of regional venture capital funds, including information and analytical support, promotion, and involvement of members of the association as co-investors and experts in the activities of the funds, which will provide feedback on the relevance and applicability of the technology at the early stages of the project.

"VEB Innovations and NATT also agreed to promote new mechanisms to support and commercialize the results of intellectual activity.

The program to form a network of regional investment funds, launched by VEB Innovations, is implemented on the basis of a single "box" solution and provides for the creation of a technology transfer venture fund in each of the federal districts of Russia. They will become a part of the infrastructure that will allow for continuous development of projects from stage to stage and accelerate the formation of an efficient digital environment in the country. The funds will be aimed primarily at supporting technologies in Smart City. To date, VEB Innovations has signed an agreement on the creation of such funds with the leadership of Perm Krai, Sverdlovsk Oblast and the Republics of Sakha (Yakutia) and Mordovia.

"As a member of the VEB.Russian Federation group, we see our role in creating a full-fledged infrastructure for startup support in Russia, developing and offering system solutions, and being in a constant dialogue with the venture capital community. One of the key elements of this infrastructure can be a network of regional venture funds for technology transfer support, which can be used both by investors in search of projects and other venture capital market participants. We have already signed agreements on the establishment of such funds with the leadership of four regions and reached similar agreements with the Ulyanovsk Region and the Republic of Bashkortostan. The participation of the National Association of Technology Transfer, which unites the largest players of the Russian technology market, will allow us to attract private and public corporations interested in new developments and create an accurate matrix of their needs. Together we hope to build a stable bridge between the most promising startups and consumers of their products, and thus ensure demand for the most worthy Russian developments," - said the General Director of VEB Innovations Oleg Teplov.

"The National Association of Technology Transfer was established to promote the effective promotion of technologies from research laboratories to industrial production. For us it is extremely important that domestic researches and workings out had access to a full spectrum of existing mechanisms of support, and in this context our participation in the program "VEB Innovations" on development of a network of venture funds essentially expands our possibilities and allows to realise innovative potential of the Russian regions", - the executive director of NATT Egor Shipitsyn has noted.

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