Siberian Venture Fair Opened in Novosibirsk

The opening of the 8th Siberian Venture Fairtook place at the Novosibirsk Expo Centre International Exhibition Complex. The Fair is held as part of the International Forum of Technological Development ‘Technoprom - 2014’. Over 40 companies were selected to take part in the Fair. Participating companies operate in 8 spheres: electric power, biotechnologies, nanotechnologies, IT technologies, equipment engineering, medicine, agriculture.

The opening ceremony was attended by the Mayor of Novosibirsk Anatoly Lokot. He noted in his welcoming speech that the Siberian Venture Fair is among the most important events of the city. Its significance is partially amplified by the fact that it is held in parallel with the International Forum ‘Technoprom - 2014’.    

‘I can see potential, growth areas in this event. The majority of participants at this fair are from Novosibirsk. They offer a good intellectual product. And that is the peculiarity of Novosibirsk, since we have no natural resources here – petroleum, gas, charcoal. Intellectual products offered by many companies in Novosibirsk meet high demand in the world. These products are our future’, said Anatoly Lokot. According to the event organizers, the Fair is held in order to stimulate private investors to take part in projects being implemented by developer startups. Solving this task will contribute to the growth of the city economy.      

'Russia is currently the world leader in terms of venture business growth rate, and the third country in Europe in terms of its volume. Venture business in Russia is developing rather intensively', noted Executive Director of the Russian Association of Venture Investment Albina Nikkonen. According to Albina Ivanovna, the Venture Fair plays a very important role in developing the innovation development sector. Within the years of its operation, the Fair has become the event that promotes the culture of venture entrepreneurship in Russia.

General director of CJSC ‘VTB Capital Assets Management’ Natalya Plugar believes that venture investment in Russia is currently developing in the form of mutual funds. There is a tendency of harmonization between the Russian and the European law. It is partially conditioned by the global political events, particularly the war in Ukraine, complicated elections to the European Parliament. The main task of Russia in this situation is ‘raising up’ its own investors with a clear understanding of how and where to invest.

‘Despite the intensive growth of venture business, the culture of finance in Russia is still extremely low, therefore it is important to keep the balance of risks and profitability when investing. Venture investment system in Russia lacks financial support. It is necessary to teach companies how to come up with IPOs’, said Natalya Plugar. The idea of teaching companies to attract investors was also supported by the Executive Director of the Venture Fund for the Novosibirsk Region Boris Ivlev. He noted that the main goal of the fund is helping potential participants of the fair to prepare their own project for presentation, ‘pack’ it right, teach how to conduct negotiations in an investor’s language.    

'Investors are basically looking for a needle in a haystack, they are ready to fly thousands of kilometers to find something attractive for themselves, to organize venture business', said Boris Ivlev. ‘If investors agree to put their money into a project, then both parties are interested to have a positive result’.