Moscow innovation ecosystem and state support of venture capital market

Moscow innovation ecosystem and state support of venture capital market Alexey KomissarovHead, Department of Science, Industrial Policy and Entrepreneurship of the City of Moscow

CURRENT ECONOMIC SITUATION IN MOSCOWTerritory of «old» Moscow Moscow budget as of 2012: 1090 sq. km revenues 1 460 RUR bln Permanent population (~ $50 bln) 11,5 mln. people costs 1 710 RUR bln (~ $57 bln) Daily population is about 15 mln. people. Moscow GRP as of 2011 9 RUR trln ($300 bln) Territory of «new» Moscow - ~ 19% Russia GDPwith inclusion of 1600 sq. km is about 2700 sq. km For comparison: Population of annexable New York budget $66 bln territory is 250 th. people New York GRP $1,2 trln or 2% current Moscow - ~ 8% USA GDP population

MOSCOW INNOVATION POTENTIAL Moscow potential  268 higher education institutionsZelenograd MIPT  50.4 th people academic staff  97 engineering bureaus TMZ  241.2 th people involved in R&D Technopark MAI Strogino Kurchatov Weaknesses Institute  97th ranking of 100 cities due to the level of RVK innovation system competitiveness MPEI  Reduction of scientific institutions and people MISiS MSTU ZiL TIR involved in scientific activities MSU Moskvich Skolkovo  Low level of R&D results commercialization and Technopark Slava investors activity on seed stage MIFI Strengths Troitsk  4th ranking among largest cities due to number of graduates and universities  Largest market of high-tech products in Russia  Developed and attractive social infrastructure

REGIONAL INNOVATION ECOSYSTEM 1 Territory of innovation 6 development 26 Centers of Fablabs technology transfer 19 technoparks 11 10 Business- Development incubators agencies 20 VC funds

MOSCOW INNOVATION INFRASTRUCTURE Special economic zone ZelenogradBusiness incubator Zelenograd Territory of innovation development Technopark Moskvich Strogino Technopark Slava

SPECIAL ECONOMIC ZONE “ZELENOGRAD”SEZ Zelenograd specializes in:• microelectronics• energy-saving technologies• biotechnologies• information and communication technologies• other kinds of high-tech research and production businessInvestments:$ 4,00 bln. Declared private investments$ 573 mln. Federal Government investment$ 156 mln. Moscow investments into SEZ$ 417 mln. Moscow investment into Zelenograd Investors in 2012 Q1: 36 companies

MOSCOW CENTER FOR INNOVATION DEVELOPMENT – KEY INITIATIVE IN 2012 GOALS Increase of Growth of Increase of Promotion of number of people innovation products innovation Moscow as a involved in share in regional infrastructure leading innovation activity gross product efficiency innovation center FOCUS INDIVIDUAL COMPANY INFRASTRUCTURE CITYCenter principles are aligned with“Strategy of Russian Federation innovation development till 2020”State primarily fixes “market failures”Priorities of innovation development are defined in cooperation with business and scienceDistribution of budget funds and result evaluation are maximally transparentEfficiency and effectiveness are evaluated according to international standards

TOOLS PORTFOLIO OF THE CENTER Information sharing and matchingInnovation portal One-stop shop for Organization of joint services in innovation field programs with development institutes Development of human capitalEducational programs Organization of internships Popularization ofin innovation field abroad innovation activity Support of innovation companiesCo-financing of projects on Co-financing of costs Services for innovationseed stage for IPO on IIM MICEX business development Development of innovation infrastructureDevelopment of subordinate Co-financing of innovationbusiness incubators and infrastructure projectstechnoparks Development of Moscow as innovation citySupport in realization of city Competitions in ideas Regional and internationalprocurement of innovation for innovation promotion of Moscowproducts development in Moscow

GOALS OF GOVERNMENT IN STIMULATING THE VENTURECAPITAL MARKET Accelerate a process of VC and business angels emergence Foster active domestic VC market Create conditions for cross-border investments

GOVERNMENT SUPPORT OF BUSINESS ANGELS AND VC Implement public-private co-investment schemes Subsidy pre-finance appraisals and evaluations/ due-diligence Link policy to Market of Innovations and Investments of MICEX and IPOboard Develop institute of ombudsman Create customs point for innovation products Cooperate with Russian Venture Company and other key development agencies Support creation of business angels networks

MILESTONES IN 2012 Launch of Center for innovation development programs Conclusion of Agreement between Moscow Government and Russian Venture Company Launch of Moscow Seed Fund

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Moscow innovation ecosystem and state support of venture capital market

by Департамент науки, промышленной политики и предпринимательства города Москвы

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