Within the framework of the Interregional Export Forum, VEB Innovations and the Government of the Perm Region signed a cooperation agreement. The purpose of the partnership is to stimulate innovative development of the region and the Volga Federal District. For this purpose, a venture fund for technology transfer with an initial capital of 300 million rubles will be created in the region, followed by an increase to 2 billion rubles.

The venture fund is planned to be created in the form of an investment partnership. "VEB Innovations will be able to both invest its own funds in the new structure and attract other co-investors. In its turn, the Perm Krai Government is committed to attracting the envisaged amount with the help of third parties. The regions of the Volga Federal District, Russian and foreign partners of the VEB Group are considered potential co-investors.

The new fund is being formed for a seven-year term with the possibility of extension for another two years. The funds of the fund will be used to promote high-tech projects at the regional, federal and international levels and to facilitate the integration of regional projects into existing technological chains, including international ones. In addition, the Venture Fund will aim to attract public and private corporations to support high-tech projects and increase the digitalization of the region as a whole. It is planned to invest primarily in the development of high technology and other projects with export potential, as well as increasing the investment attractiveness of the region.

"Historically, the highest level of venture capital activity has been concentrated in Moscow, St. Petersburg and some other regions. A number of entities, including the Perm Krai, have many valuable ideas and developments, but do not always have the infrastructure and institutions necessary for their development and scaling. Therefore, our task under the new agreement with our regional partner is to create comfortable conditions in the Perm Krai and Volga Federal District to increase investment activity, form and develop high-tech companies. In addition, we plan to jointly involve large corporations in this process, which are also interested in the latest domestic developments. Within the framework of the forum we have already managed to communicate with several interesting local projects, potentially able to claim investments and support", - said Oleg Teplov, General Director of VEB Innovations.

In the rating of innovative regions of Russia, prepared by the Higher School of Economics in 2017, the Perm Territory is on the 13th place. Compared to the previous year, the region has improved its innovation index by six points.

"We understand that for the successful development of regional enterprises, it is important to help them. Help not only to finance, but also to obtain information from more experienced companies in the industry and their colleagues. We regularly have start-ups in the region that can grow into independent and successful businesses. It is important to provide them with the necessary support in a timely manner," said Maxim Reshetnikov, Governor of Perm Krai.

The Venture Fund with the Government of the Perm Krai became the second for VEB Innovations. In September 2018, the company signed an agreement on joint investment in high-tech projects with the Government of Yakutia. The parties agreed to create a joint fund of up to 2 billion rubles. Such forms of partnership are part of VEB Innovations' strategy for the long-term technological development of Russia by bringing regional companies first to the federal level and then to the international level.