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November 1, 2018

VEB Innovations and Yakutia Venture Company will invest in technological start-ups in the Far East

Yesterday in Moscow a "road map" for the implementation of the joint investment partnership between Yakutia Venture Company and VEB Innovations Company was signed.

The document was signed by Anatoly Semenov, Minister of Innovation, Digital Development and Info-Communication Technologies of the Republic of Sakha (Yakutia), and Oleg Teplov, Director General of VEB Innovations.

According to the "road map", already in December this year in Yakutsk DIT (Investment Partnership Agreement) will be created to support high-tech projects at the stage of sowing. According to Anatoly Semenov, in March next year the first innovative projects of Yakutia will be financed within the framework of the Skolkovo startup tour, which will be held for the first time in the Far East, in the city of Yakutsk.

"The signing of the roadmap gives us full confidence to say that innovative projects with the assistance of Yakutia venture company and VEB Innovations will be financed by 300 million rubles, - said the Minister. - At the same time, within the framework of the "road map" we have all the possibilities of growth of the attracted investments".

"This partnership will give a powerful impetus to the emergence of more technological start-ups in the Far East. According to the plans outlined in the signed road map, in the near future we intend to focus on the selection of projects for pipeline joint fund with target capital of up to 2 billion rubles, so that in the middle of next year to carry out the first closure. The target niche of VEB Innovations is Stage A projects, and Yakutia Venture Company has expertise in the pre-seeding stage. Thus, we will be able to provide technological companies at the most important and difficult stages of their development," said Oleg Teplov, General Director of VEB Innovations.

We would like to remind you that in September, on the fields of the Eastern Economic Forum "VEB Innovations" and the Government of Yakutia signed an agreement on joint investment in high-tech projects, under which each of the partners will be able to attract to the fund from 150 million to 1 billion rubles at the expense of their own funds, as well as at the expense of outside investors. One half of the fund will belong to VEB Innovations and the other half will belong to Yakutia venture company.

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