Siberia | Finance, business | Technology & innovation
Russiaís RVC and Siberiaís Tomsk agree on roadmap for innovation development
4 Apr '14
Russiaís RVC and the Tomsk region in Siberia have agreed on a cooperation roadmap to improve the quality of regional innovative start-ups and step up the development of local innovation infrastructure, the RVC website announced.
The project, which is to continue through 2016, calls for the integration of efforts in different dimensions. For example, the agreement stipulates the launch of special training sessions for Tomsk regional universities and the management of the local regional innovation cluster.
Using the existing Tomsk regional infrastructure, the partners want to start a series of start-up acceleration programs as part of the Generation S accelerator competition with a special focus on instrument-making, IT and software, new materials, and chemistry.
Also under plans is the creation of a venture microfund in this Siberian region, with RVC investing anything between 50% and 75% and the region and private investors kicking in the rest. Longer term, the microfund may evolve into a standard midcap VC fund managing up to $15m.
Much attention in the roadmap is paid to the development of VC and angel investors and corporate venture funds as a key component of a venture market. To support angel investors the roadmap calls for the creation of a special venue for investors and entrepreneurs to meet. A series of training sessions will be designed to boost venture capitalistsí competencies. In addition, the partners in the most recent agreement want to set up a $15-to-30m regional corporate venture fund.