Business leaders Investment Forum“INNOVATION FOR BUSINESS”
24 - 26 March 2010
Nizhny Novgorod
Organizer(s):
Marchmont Capital PartnersMARCHMONT Capital Partners is an independent, American-owned company providing media and investment consulting services.
MARCHMONT Capital Partners conducts regular investment forums for business leaders in key Russian regions. The main target of these forums is to overcome barriers for investors who are seeking investment possibilities in the regions. A task is to unite business and community leaders, entrepreneurs, innovators, business angel investors and local administrations seeking to improve the competitiveness and efficiency of local industries and integrate the regions into global business society.
General partner(s):

Russian Venture Company (OJSC)Russian Venture Company (OJSC) (RVC or Russian Venture Company) is a government fund of funds and a development institute of the Russian Federation, one of Russia's key tools in building its own national innovation system.
Russian Venture Company was established by Russian Government on June 7, 2006 (Order No. 838-r). Its mission is to encourage Russia’s own VC industry and boost capital of VC funds. RVC’s role is that of a government fund of venture capital funds channeling public incentives to venture capital and financial support to the hi-tech sector, and of a Russian VC industry development institute.
RVC’s authorized capital — RUB 30 011 320 700 (about US$ 1022 mln.) — is 100% owned by the Federal Agency for State Property Management (Rosimuschestvo). The Board is composed of seven directors, including Elvira Nabiullina (Russian Minister of Economic Development), Andrey Fursenko (Russian Minister of Education), Igor Artemyev (Head of Antitrust Committee), Sergey Guriev (Rector of Russian Economic School), Yigal Erlich (founder and Managing Partner of Yozma Group), Esko Aho (Prime Minister of Finland in 1991-1995, current member of the Executive Committee of Nokia Group), and Igor Agamirzian, CEO of RVC.
RVC operates through private-public partnerships that take form of private VC funds: 49% of their capital is contributed by RVC—to be matched by 51% from private investors.
RVC backed VC funds’ investment priorities focus on technologies from the Critical Technologies List approved by Russian President.
So far, these funds include: VTB Venture Fund (RUB 3,061 mln i.e. about US$ 104 mln.), Bioprocess Capital Ventures (RUB 3,000 mln i.e. about US$ 102 mln.), Maxwell Bio-Tech (RUB 3,061 mln i.e. about US$ 104 mln.),), Leader Innovations (RUB 3,000 mln i.e. about US$ 102 mln.), Tamir Fishman CiG Russian Fund (RUB 2,000 mln i.e. about US$ 68 mln.), S-Group Ventures (RUB 1,800 mln i.e. about US$ 61 mln.), New Technologies (RUB 3,061 mln i.e. about US$ 104 mln.), Seed Fund (RUB 2,000 mln), RVC Biopharmaceutical Investment Fund (RUB 500 mln, to be increased to RUB 1.5 mln), RVC Infrastructure Investment Fund (RUB 500 mln, to be increased to RUB 2 bln), RUSSIAN VENTURE CAPITAL I LP (RUB 300 mln), RUSSIAN VENTURE CAPITAL II LP (RUB 600 mln).
As on early March 2010, 12 RVC backed funds run a portfolio of 60 companies, invested capital totaling more than RUB 6 bln i.e. about US$ 200 mln.
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On October 22, 2009, RVC launched its RVC Seed Fund. Its mission is to invest into Russian innovation-based start-ups promising high growth opportunities both on Russian and foreign IT markets. This RUB 2 bln (i.e. about US$ 68 mln.) vehicle is assisted by a network of Venture Partners—special entities who have access to academic, technology and financial resources required for their activities. As on late December 2010, RVC Seed Fund has awarded the Venture Partner status to 76 companies.
All in all, RVC has backed eight funds to a total capitalization of RUB 21 bln i.e. about US$ 710 mln., its share amounting to RUB 11,282 bln i.e. about US$ 383 mln.
An important area of RVC efforts is to create and support a special-purpose service infrastructure for VC market players, to increase transparency of investee funds and companies, to ensure enabling conditions in Russia for international investors and entrepreneurs and to optimize legislation affecting the development of innovative business. RVC is improving investment mechanisms to consolidate various industry-specific technology clusters in Russia.
In 2011 Russian Venture Company (RVC) has completed all registration procedures and launched its two new cluster funds — Biopharmaceutical Investment Fund (RVC BioFund) and Infrastructure Investment Fund (RVC InfraFund). The conceptual frameworks of these funds have been approved by the Board of Directors of RVC last June. In late 2010 the funds started receiving bids and are now getting down to their boost stage.
InfraFund’s initial size, RUB 500 mln, will be taken up to RUB 2 bln. The fund life is unlimited. The task of the InfraFund will be to render a bundle of special-purpose services to assist technology companies in their core businesses, speed up their development and market their products both in Russian and internationally. The new infrastructure will provide innovative entrepreneurs with consulting services on marketing, finance, law, IP, investor relations and other issues.
BioFund’s initial size, RUB 500 mln, will be take up to RUB 1.5 bln. The fund life is 10 years (prolongation possible upon agreement of all participants). The Fund will be investing capital into innovation biopharmaceutical and service companies providing laboratory, information and analytical and consulting services to biotechnological, pharmaceutical and medical companies, as well as in certain cases to biotech start-ups. The Fund will also pursue a number of efforts to create an ecosystem to nurture as many biotech projects as possible.
RVC is pursuing international efforts in order to import modern technologies, knowledge and technology entrepreneurship know-how, as well as to assist Russian companies on their way to global markets.
In the years to come, RVC is expected to play a pivotal role in the cause of developing Russian VC industry.
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Co-Organizer(s):

National Research University Higher School of Economics (Nizhny Novgorod Branch)
The Higher School of Economics was founded on November 27th, 1992, by an Ordinance of the RF Government. On December 23rd, 2010, the University received the status of an autonomous educational institution.
The system of education at the HSE ensures the competitiveness of Russian education in its most urgently needed and, at the same time, weakest sphere - economics and social sciences. The School was the first in Russia to adopt the commonly accepted world-wide "4+2" practice: four years of undergraduate study and two years for Master`s courses.
HSE has 32 research institutes and centres along with 30 research and educational laboratories. Also the HSE has its own Publishing house.
The HSE curricula are recognized by numerous leading foreign universities, which make it possible to carry out double-degree programs. Student exchange programs have also been introduced.
The HSE contacts
Address: 25/12, B.Pecherskaya str. Nizhny Novgorod, 603155, Russia
Phone: +7 (831) 416-9-777
Nizhny Novgorod Center for Entrepreneurship NRU HSE
Nizhny Novgorod Center for Entrepreneurship NRU HSE was founded on 2010. Its mission is the creation and development of innovation infrastructure of the University as well as removal of entrepreneurship in the region to a new level.
Main activities:
• Consulting;
• Development of partnerships;
• Community development.
Center for Entrepreneurship has wide competence: for example, in the Center for student projects competitions we develop an idea to existing business. A student of any university can become a member of the Business-club "Entrepreneur" to communicate and get knowledge from the professionals of the Russian and international business. There are new ideas are born, cross-functional teams gather and the business plan of the international sample is developed. Then they participate in competitions at various levels to which we are preparing them. The winning projects are invited to a business incubator, where the game begins by the rules of a real business.
Due to wide scope of activities, the Centre for Entrepreneurship gradually forms an innovative ecosystem around itself. There is an area, where cross innovators, investors, entrepreneurs and students.
Nizhny Novgorod Center for Entrepreneurship NRU HSE contacts
Address: 136, Rodionova str. Nizhny Novgorod, 603093, Russia
Phone: +7 (831) 436-17-91
National co-organizer(s):
Official sponsor(s):

«Finances» Group
The “Finances” Group has been conducting its activities on the audit services market since 1991, steadily occupying a respectable position among the largest audit companies, which is confirmed by the ratings of independent magazines, such as the “Expert” and “Kommersant-dengi”. Today, the “Finances” Group is a specialized corporation, uniting audit and consulting companies in Moscow and 9 regions of the Russian Federation: Saint-Petersburg, Voronezh, Krasnodar, Ekaterinburg, Lipetsk,Samara, Nizhnii Novgorod, Novosibirsk, Perm. The client base of the “Finances” Group contains more than 7 000 entities of different organizational forms. In 2006 the “Finances” Group joined the international association of auditors and consultants “Nexia International”, one of the top 10 leading audit networks in the World, and became its official representative in the Russian Federation.
The main goal of the “Finances” Group’s activities is the facilitation of effective business development and creation of modern management systems for our clients. Highly qualified specialists of the “Finances” Group will help to turn your books into assets and to do that we will:
* Create and automate accounting and tax record on the basis of 1C products and our own computer software;
* Conduct the audit of accounting(financial) records;
* Prepare individual and collective financial records in order to correspond to the requirements of the international financial reporting standards;
* Inspect the correctness of tax charges;
* Examine the correctness of finances and business operations;
* Offer the implementation and certification of management systems in accordance with the requirements of ISO 9000 and 14000 ,OHSAS 18001 standards, as well as integrated management systems;
* Conduct financial, tax and legal Due Diligence
* Carry out an expert evaluation in the sphere of housing and public utilities;
* Offer opportunities for the formation of investments, including private offerings;
* Offer advice in the sphere of corporate management and formation of an administration company;
* Prepare a set of the necessary documents and control the procedure of placement of securities on an exchange and proper securities quotation.
The result of our work is the high manageability of our business in the sphere of finances, improvement of the company investment attractiveness, and minimization of the risk of being imposed with tax and administrative sanctions by the controlling state authorities.
Regional sponsor(s):

The U.S. Russia Center for Entrepreneurship
Since 2002, The U.S. Russia Center for Entrepreneurship (CFE) has developed a reputation for quality programming, innovative training and concrete results. Starting with a mission to accelerate entrepreneurship in Russia, CFE has:
- Trained hundreds of entrepreneurs who have created thousands of jobs
- Created proprietary learning materials, conducted innovative networking events, and directed practical peer-to-peer exchanges
- Helped launch and worked with a wide range of business and entrepreneurship organizations that have advanced economic reform efforts in the country
- Started a nationwide professional academic association to create new curricula and enhance entrepreneurship education in universities
- Partnered with international organizations and companies to provide recognition programs for Russian entrepreneurs, including sponsoring and supporting Ernst & Young’s Entrepreneur of the Year awards
- Conducted policy forums to improve the climate for innovation by highlighting the factors that improve and inhibit a culture of entrepreneurship
- Provided matching funding for new initiatives that allow CFE to work with new partners and expand the breadth and reach of our entrepreneurship development activities
- Facilitated the work of many other important Russian and international organizations such as: Junior Achievement Russia; OPORA; the Russian Microfinance Center Foundation; the Entrepreneurs’ Organization; the US Russia Business Council; the Financial Services Volunteer Corps; the Civilian Research and Development Foundation; Harvard Business School; the European Foundation for Entrepreneurship Research; the Small Enterprise Assistance Fund; the American Chamber of Commerce in Russia; and the United States Association for Small Business and Entrepreneurship.
As a result, CFE has become a credible, respected and internationally recognized force for economic development, the advancement of opportunity, and community well-being through entrepreneurship.
CFE is an initiative of the U.S. Russia Investment Fund. Initially capitalized by USAID, the U.S. Russia Investment Fund, over the course of many years, was a leading private equity fund dedicated to developing and financing growth companies in Russia.
Regional partner(s):
World Trade Center (WTC) Nizhny Novgorod
«Start Invest» Business Angels Association
General informational partner:
Nizhny Novgorod Regional Branch Delovaya Rossiya
Regional Informational partners:

Institute for the Development of Financial Markets
The Institute's main activities include:
*Organizing and holding public events, such as: conferences, seminars, round tables, forums, and presentations;
*Training students to successfully pass qualifications exams, upgrading qualifications of working securities market experts, and conducting professional seminars;
*Organizing corporate courses and consultation seminars both in Moscow and in Russia's regions.
Utilizing highly skilled tutors - who are actively engaged in financial markets - in the training process facilitates effective qualitative training of market participants.
Institute employees are a stable and experienced team - having successfully carried out more than a dozen large-scale projects, as well as having organized and held a large number of professional conferences, congresses and forums. The Institute's conferences have always been well attended by a large, varied and professional audience; these conferences have also received extensive coverage from leading Russian and foreign mass media. The Institute's organized events, which include both Russian participants and foreign partners, including: investors, leading representations from major exchanges, state officials, and journalists, have made it possible to create a convenient meeting ground where representatives of Russian business and their foreign counterparts can get together for mutual cooperation.
The Institute for the Development of Financial Markets (IRFR) is currently engaged in a number of exciting projects focused on advising a wide range of Russian companies on appropriate mechanisms and best-practice techniques for attracting investment. Among the long-term and multi-stage targets are:
*Upgrading regional economic and investment policy;
*Creating favorable, long-term conditions for investment into the Russian economy as a whole;
*Actively using financial market mechanisms to attract investment;
*Organizing effective inter-regional economic cooperation.
Business school “Green City” - MBA programme

TheAngelInvestor
The Magazine for alternative business investments across Russia. «The AngelInvestor» is the magazine for inside information on what is happening in the angel investment and venture capital worlds. «The AngelInvestor» is Russia's Number 1 source of industry news, resources and Entrepreneur business investment proposals.
«The AngelInvestor» is published monthly and is sent out to over 20,000 accredited high-net-worth business angel investors and potential business angel investors. The magazine covers various topics including; industry news, successful business angel interviews, industry profiles, start-up spotlights, resources, lifestyle features, events, and an entire section of entrepreneur Investment Proposals.
Corporate Publishing Limited is a boutique publishing house catering to niche affluent business angels', venture capital and lifestyle markets. We are a team of highly skilled professionals working to provide direct marketing opportunities through «The AngelInvestor» magazine, one of Russia's most exclusive publications.
«The AngelInvestor» publication is a Russian only magazine which exclusively targets the Angel Investment and Venture Capital community. «The AngelInvestor» is quite simply the fastest and most direct route to achieve your objectives, whether providing a product or service to wealthy High-Net-Worth individuals or, if you are looking to raise investment capital for your start-up or existing business.
RVCA
Objectives and goals of RVCA activities:
*Creation a positive political and entrepreneurial environment for investment activities.
*Representing the RVCA members interests at the government level, in press, in financial and industrial markets within the country and abroad.
*Information support and communicative grounds establishment for the Russian venture market participants.
*Building a cluster of highly qualified professionals for the venture business companies.

Nizhny Novgorod region Chamber of Commerce
Nowadays the Nizhny Novgorod region Chamber of Commerce and Industry is considered to be a good platform to achieve the aims of regional business communities. The system of this organization unites people for frank and constructive, face to face dialogue for dealing with powerful structures and creating conditions for business integration into the global economy. NNR CCI on continuing basis provides services to 1050 enterprises of different business entity, there are more than 500 members among them that make about 65% of gross domestic product of the Nizhny Novgorod region.
NNR CCI includes 8 unions, consortiums and other employer’s associations, 21 public entities, 18 regional representatives, 4 organizations established with CCI participation to create favorable conditions for business; Court of Arbitration for resolution of economic disputes and Center of business education. Quality management system ISO 9001-2001 was introduced in the Nizhny Novgorod region Chamber of Commerce and Industry to meet high requirements of international standards.
NNR CCI carries on extensive cooperation with City and Regional Administrations, apparatus of Presidential Plenipotentiary in the Privolzhsky Federal District. Collaboration of these structures is predominantly focused on lawmaking, development and implementation of joint conceptions and programs in different economic spheres, as well as on support of small and mid-sized businesses and innovations introduction, etc.
The Nizhny Novgorod region Chamber of Commerce and Industry represents interests of business communities by taking an active part in the work of departmental committees, councils and commissions of Territorial Administration of the Federal Agency for Federal Property Governing in the Nizhny Novgorod Region, Chief Administration of the Federal Registration Office in the Nizhny Novgorod Region, Administration of the Federal Antimonopoly Office in the Nizhny Novgorod Region, Privolzhsky Customs Administration, Ministry of Investment Policy of the Nizhny Novgorod Region.
NNR CCI assists regional companies in developing regional and international relations as well as in promoting their goods and services to domestic and foreign markets. This is one of the top-priority goals of NNR CCI. The results of foreign economic activities prove a gradual strengthening of NNR CCI international authority, a constant growing number of international business visits and requests, including high-level ones.
TV Company “Kremlin” (Nizhny Novgorod)
TV Company “Vesti Privolzhye” (Nizhny Novgorod)
“Delovoy Kvartal” Magazine (Nizhny Novgorod)
Russian Association for Entrepreneurship Education
The Russian Association for Entrepreneurship Education (RAEE) was founded in 2008 to foster entrepreneurship through university education, research, and international collaboration between professors, entrepreneurs, investors, and policy makers. RAEE membership is open to all individuals and organizations interested in enhancing entrepreneurship development.
Membership Benefits Include:
*Global networking and collaboration opportunities
*Access to best practices in teaching methodology, cases, urriculum, etc.
*Participation in international conferences and training programs
*Research grants
*International faculty exchange and career opportunities
*Publications
*Recognition and award programs
*Personal and professional development
*Access to members-only areas with materials to support entrepreneurship educators.
International Institute of Management LINK
The British Open University Business School is one of an elite group of only 36 business schools world wide to hold the EQUIS, AACSB and AMBA awards for the quality of its MBA
The EQUIS quality kitemark is awarded by the European Foundation for Management Development (efmd) after a rigorous process of assessment that examines all aspects of a school's activities and all its programmes.
AMBA accreditation is awarded by the Association of MBAs. The OU Business School MBA has been accredited since 1986 and accreditation was successfully retained in 2001. Only 9 UK distance learning providers hold AMBA status.
OU Business School is the first exclusively distance learning school to be awarded the AACSB International accreditation, which follows a comprehensive peer review of the School and its programmes and activities.