During the second day of Technoprom-2019, participants of the Siberian Venture Fair continued to discuss the development of the Russian venture capital market.
“Why is the Bortnik Fund still the one and only well-operating grant fund? This situation is due to the fact that other venture funds are prevented from growing because of a cash-out (an investor’s right to sell its share at the project start) prohibition in our country”, said Deputy General Director of Academpark Levan Tatunashvili.
According to Mr. Tatunashvili, the venture business is very risky, therefore investors need protection mechanisms.
“In order to engage investors in startups, a legal framework on protection of minority rights is necessary both for investors and technology creators. Now, they can be vague till the project completion”, noted Levan Tatunashvili.
According to Mr. Tatunashvili, the Bortnik Fund manages to survive in the market because it acts as a grant support fund but not as an investor who requires a payback.
On September 20, VII International Forum and Exhibition of Technological Development TECHNOPROM-2019 ended. More than 90 activities took place as part of the business program. For the last seven years amount of activities has increased fivefold: this year there were 8,500 visitors from 25 countries. 257 representatives of the press from 126 mass media gave coverage to the Forum and exhibition. 23 cooperation agreements were signed in the press center of the Forum. 70 stands were presented at the exhibition with the same name.More details
Technoprom-2019 International Forum was finished with a plenary session called “Talents and Opportunities”. Representatives of businesses, government agencies, scientists, as well as winners of different school competitions discussed whether talented people have opportunities and whether it is possible to find opportunities without being talented.More details
During the round table called “How to Bring Scientific and Educational Centers to International Level”, Deputy Director of Public Scientific, Scientific and Technical and Innovation Policy Department of the Ministry Andrey Anikeyev informed that the Ministry of Science and Higher Education of the Russian Federation plans to present development programs of the first five Russian scientific and education centers in Europe and Japan.More details