14 September 2009

Innovators have become disillusioned with state venture funds

In July-August 2009, the National Association for Innovation and Development of Information Technologies (NAIRIT) conducted research on the innovation market. According to the data obtained, about 58% of the surveyed innovative entrepreneurs do not trust the activities of state innovation structures and venture funds with state participation. More than 750 innovative companies from 57 regions of Russia are among the respondents.

At the same time, 66% of respondents would prefer to interact with foreign venture structures.

It is worth noting that two years ago the situation was fundamentally reversed. 60% of the study participants in their comments indicated the need to strengthen the role of the state in the formation of innovation infrastructure, which, in their opinion, should have given certain guarantees to innovators in their interaction with funds (in terms of intellectual property protection, the correctness of project evaluation, increasing the chances of receiving money by small companies, etc.). At the same time, 78% the interviewed innovators expressed a desire to work with domestic venture institutions.

According to NAIRIT President Olga Uskova, this was influenced by the lack of any result in the industry for a number of years, as well as problems with the implementation of key infrastructure projects of Rusnano, JSC RVC, etc. "Innovators simply lost faith in the capabilities of the state and turned their eyes to the west."

Despite this, it should be noted that the quality of innovative projects continues to grow. So, now the share of processed investment applications received by NAIRIT in August was 4.5%, which is almost one and a half times higher than the corresponding indicator of April this year (3%) and significantly exceeded the indicator for the same period last year (0.5% – in August 2008).

Portal "Eternal youth" http://vechnayamolodost.ru14.09.2009

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