A delegation of US venture capitalists and Silicon Valley entrepreneurs headed by California Governor Arnold Schwarzenegger visited Russia Oct 10-14th.
The delegation took part in Global Innovation Partnerships Forum, organized by Rosnano, Russian Venture Company (RVC), Skolkovo Foundation, Global Technology Symposium, Tatarstan Republic Venture Investment Foundation and Silicon Valley Bank.
The forum was aimed at turning Silicon Valley venture capitalists’ experience into creating global tech businesses in Russia.
General Manager Russian Venture Company.
Dear Global Innovation Partnerships Forum Participants,
Today, Russia is facing yet another challenge - a wave of technological changes brought about by cutting-edge achievements in science and industry.
With its substantial scientific and research capacity, our country must learn how to use this wave effectively to succeed in internal social and economic development and to integrate, on a larger scale, into the global economy.
In pursuing these objectives, Russian businesses urgently need to access the know-how of venture capitalists and to master the best practices of international venture investing and technology entrepreneurship. In the Russian Federation, we need to have the necessary competencies and instruments in place to attract international investments and to independently manage domestic venture investments as well.
International partnerships are valuable because they lead to technological breakthroughs. These partnerships provide Russian businesses an entry into the most important innovative value chains of the world economy.
Currently, various Russian development institutions, alongside Russian private and state-owned companies, are involved promoting the entry of our businesses into the global market for technology entrepreneurship and venture capital. The strategy of Russian Venture Company – the Russian Government’s fund of Funds – is the establishment of long-term, mutually beneficial partnerships with international venture funds. Partnerships with international venture funds will help Russia gain access to modern management techniques and to information and business networks. Russian Venture Company is already becoming a “point of departure” for Russian funds and innovative companies to master the world’s best practices. Russian Venture Company is a reliable, professional partner of international funds and companies working in our country.
We are happy to welcome the honorable representatives of the United States’ venture industry and high-tech companies participating in the Global Innovation Partnerships Forum.
I am positive that our cooperation will be mutually beneficial and fruitful.
Russian Venture Company