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GLOBAL INNOVATION PARTNERSHIPS 2011

Welcome to the Global Innovation Partnerships forum

The visit of leading European venture capitalists and business leaders to Russia will introduce foreign investors to the Russian innovation landscape and new financial institutions, share best practices of the international venture investment industry and explore mutual interests.

About the forum

Elvira Nabiullina

Minister of Economic Development of the Russian Federation

Dear colleagues,

The Russian economy is firmly standing on the path of innovative development. Under these conditions, the State can and should play an important role in the development and acceleration of processes that promote the modernization of the economic environment.

However, public authorities at both the federal and regional levels should not, as they have in the past, usurp the role business play in this development.

The State should not act as the most important and only entity that can fully define and spur modernization, but support businesses and provide them with the tools they need to lead this change.

The State has a history of micro-managing and over-regulating — but what we should do in the future is stimulate innovation by creating a favorable institutional environment.

I believe the main objective of public policy in the field of innovation development is to create an economic environment in which competition and success of the market players depends primarily on the creation and implementation of new innovative technologies.

The State has great financial resources which it can, and should, invest to support the development of an innovation infrastructure for the economy.

Thus, innovative development in the Russian Federation becomes a bilateral process, where both government and private business collaborate on the development and commercialization of high technologies.

Elvira Nabiullina,
Minister of Economic Development of the Russian Federation

Welcome Addresses