Worldwide alliance in support of IT start-ups created in Russia
The alliance founded by Intel, Microsoft and the National Commonwealth of business angels is to support the Russian innovative companies. In a month the alliance plans to present several IT start-ups to possible investors.
Meanwhile, such funds as Allianz ROSNO Asset Management, the ABRT Venture Fund, Oradell Capital, and Moscow Agency for the Development of Entrepreneurship have joined the alliance.
The companies Intel, Microsoft and the non-profit partnership National Commonwealth of Business Angels (SBAR) have claimed to create an investment technology alliance. According to Alexander Kashirin, SBAR?s chairman, the alliance ?can be called the innovation engine uniting the efforts of the world industry leaders, Russian small high-tech business and investment mechanisms?. The new organization is to select the early stage projects, assess and make them attractive to investors, and enlist possible investors.
In a month, on April 9th 2008, the alliance intends to hold its first field business session, where eight Russian innovation start-ups, including software developers, will be presented to possible investors. No less than three such sessions will be held in 2008.
The companies Intel and Microsoft are supposed to act as the alliance strategic investors. According to Dmitry Konash, Intel?s regional director in CIS, ?Intel possess one of the largest groups of programmers and engineers in Russia engaged in developing and studying various fields?. He says that since the company expanded into the Russian market, Intel?s total investment into Russia has exceeded $700 mln. Part of the mentioned amount falls on Intel Capital?s portfolio investment. According to Mr. Konash, currently Intel Capital has invested into the development of five Russian companies, several projects ?being under consideration?.
For Microsoft participating in the alliance is ?an important stage in implementing the project to provide for the Russian Software Economy Program development?, - states Birger Stene, Microsoft Rus Director General. He believes Russia possesses certain potential regarding software development. According to Microsoft, about a million Russians might participate in software development according to their education.
Currently, according to Alexander Kashirin, besides Intel and Microsoft, Allianz ROSNO Asset Management, the ABRT Venture Fund, Oradell Capital, and Moscow Agency for the Development of Entrepreneurship have joined the alliance. Grigory Bunatyan, Director General at CJSC Rosinfocominvest, has approved of the alliance. He says ?under the current investment boom in Russia, establishing a supervisory mechanism to set up the development standards is key and necessary?. As for establishing the Russian fund to support ICT, then, according to his director general, it will be formed and will start operating on the market by June. A list of projects for subsequent selection is being currently made.
|
