On November 7, the first public meeting of the Commission on Venture Financing under the Russian Chamber of Commerce and Industry (CCI) was held in Moscow. This new body is being established within the framework of the CCI Council on Financial, Industrial and Investment Policy and is designed to serve as a platform for collaboration between the state, businesses and investors in the field of innovative development.
In his address, Artem Genkin, Chairman of the Commission, Doctor of Economics and Professor, outlined the key focus areas of the new structure and presented its annual work plan. He stated that venture financing plays a crucial role in ensuring Russia’s technological sovereignty, as it is private investment that forms the market for innovation.
The economist emphasized that venture capital ensures technological independence by developing strategic sectors such as artificial intelligence, biotechnology and cybersecurity, where competitive Russian solutions are created. He paid particular attention to the development of regional innovation clusters and human capital:
“New venture projects stimulate demand for qualified specialists, retain talent within the country, and create prospects for young professionals.”
The expert noted that the structure of the Russian venture market remains unbalanced: early-stage projects are supported by business angels while later-stage ventures are acquired by corporations.
“Where are venture capital funds? Where are syndicates? And finally, where are mass retail investors? So far, they are more like occasional guests in this market,” Artem Genkin notes.
It should be noted that the Commission’s initiatives include establishing an expert council, compiling a white paper on venture market challenges, monitoring international best practices, and preparing an annual report on the state and prospects of the industry for submission to the State Duma and the Federation Council.