Acceptance of Applications for Participating in National Rating of Russian High-Technology Fast Developing Companies ‘TechUspekh-2013’ is Open

OJSC RVK and the Association of Innovation Regions of Russia (AIRR) in partnership with Vnesheconombank and the audit-consulting network PwC started to form a national rating of Russian high-technology fast developing companies ‘TechUspekh-2013.

The rating’s main goal is to present Russian fast developing high-technology companies on the global market.

In September of 2013, TOP-100 Russian high-technology fast developing companies will be selected. The rating’s leaders will be given a wide range of opportunities and instruments for promoting their products. As part of the Moscow International Innovation Development Forum ‘Open Innovations’ a special program will be created for TOP-30 companies of the rating.

For the first time the rating was published in 2012 by OJSC RVK and AIRR together with other Russian development institutions, its presentation took place at the Moscow International Forum ‘Open Innovations’. In order to put together a rating an expert council was set up. It is comprised of Russian successful innovative entrepreneurs.

In 2013, PwC and Vnesheconombank became partners in forming the “TechUspekh’ rating. Relying on its significant professionals experience and international expertise PwC will make its contribution to forming the rating methodology. Vnesheconombank will provide participant companies access to special programs of supporting medium-sized production enterprises which were launched in 2013.

A list of requirements for companies participating in the rating:

• Average expenses on R&D for the past 3 years (2010, 2011, 2012) have been no less than 5% of proceeds.
• Average expenses on technological innovations for the past 3 years (2010, 2011, 2012) have been no less than 10% of proceeds.
• For the past 3 years a company has put on the Russian market at least one new or substantially upgraded product or service based on intellectual property owned by the company and confirmed by titles of protection. The company’s share of proceeds from selling such new product/service has been on average no less than 30% for the past 3 years (2010, 2011, 20120).
• Proceeds for 2012 were from 100 million rubles to 10 billion rubles.
• Average annual proceeds growth rate has been no less than 15% (CAGR) for the past 3 years (210, 2011, 2012)/
• The minimum age of a company is 4 years.

To participate in the rating you should send an application at the following electronic address: rating@i-regions.org or contact the organizers at the following phone number +7 (495) 231 35 79. Applications are to be accepted till August 30, 2013.

About OJSC RVK is a state fund of funds, a development institution of the Russian Federation, one of the state’s key instruments for setting up a national innovation system. OJSC RVK’s charter capital is more than 30 billion rubles. 100% of RVK’s capital is owned by the Russian Federation represented by the Russian Federal Property Management Agency. The total number of funds formed by OJSC RVK amounted to 12; their size is 26.4 billion rubles. OJC RVK’s share is 16 billion rubles. RVK funds made investments in 139 innovation companies. The total amount of investments made is 12.1 billion rubles.

About AIRR

The Association of Innovation Regions of Russia (AIRR) is an interregional institution designed to accomplish key objectives of the country’s innovative development. The Association is instrumental in enhancing participant regions’ effective development built on recognizing the current various scientific –technological regional growth models. The Association’s interaction with federal and regional government authorities and members of parliament allows it to be a driver of Russia’s economic growth.

Today, the Association incorporates 12 regions each of which has its own innovative development model. And this makes it possible to compare various approaches and develop the most effective mechanisms for supporting scientific and technological sector. Regions incorporated in AIRR participate in forming intellectual agenda to advance innovations at an all-Russian level.

About PwC

PwC in Russia provides audit and business consulting services as well as tax and legal services to companies operating in various sectors. About 2 300 specialists work in PwC offices in Moscow, Saint Petersburg, Yekaterinburg, Voronezh, Kazan, Novosibirsk, Yuzhno-Sakhalinsk and Vladivostok. We use our expertise, considerable experience and creative approach to work out practical recommendations and solutions that open new prospects for business.

PwC is used to mean PwC network and/or one or several firms that are members of it, each of which is an independent legal entity.

About Vnesheconombank

State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” was established in 2007 through a transformation of Bank for Foreign Economic Affairs of the USSR.

Vnesheconombank operates in conformity with Federal Law No. 82-FZ dated May 17, 2007 “On Bank for Development”. The Memorandum on Financial Policies approved by Resolution of the Government of the Russian Federation No. 1007-r dated July 27, 2007 sets forth major business lines and indicators of the Bank’s performance. The Supervisory Board headed by Chairman of the Russian Government is Vnesheconombank’s supreme governing body.

Vnesheconombank is one of the key instruments for implementing the state economic policy aimed at removing infrastructure restrictions that impede economic growth, enhancing efficient utilization of natural resources, developing high-tech industries, unleashing innovative and industrial potential of small- and medium-sized enterprises (SMEs) and ensuring support for exports of industrial goods and services.

Under the Memorandum on Financial Policies, implementation of investment projects aimed at developing innovations is one of Vnesheconombank’s main lines of investment activity.

Vnesheconombank provides support for innovation activity by way of raising funds and cooperating with other interested participants involved in this process.

In 2011, Vnesheconombank founded VEB Innovations Fund to invest in high-technology projects of the Skolkovo Fund. The Fund’s main strategic objectives are to enhance the development of innovation programs of the Russian Government, create innovations infrastructure in the Russian Federation, to help attract advanced foreign technologies and promote Russian innovations to global markets.

For more information do not hesitate to contact:

OJSC RVK Public Relations Service
Phone: +7 (495) 777-01-04
E-mail: pr@rusventure.ru

AIRR Public Relations Service:
Phone: +7 (495) 280-01-50 # 3149
E-mail: smirnova@i-regions.org