Expert: Russian startups don’t know how to sell technology

Russian startups are good at developing new technology; however they don’t know how to sell them effectively, according to Maxim Chereshnev, member of the Digital Technology Development Fund’s Council, who spoke at a meeting of the working group of the International Digital Industry Forum that took place at the Chamber of Commerce and Industry, on August 21. 

“New technologies are transforming businesses. Both AR and AI have great prospects in industrial production,” the expert noted.

Chereshnev added that Russia needs to expedite technology adoption.

“Why is China so advanced in terms of technology? Because there is hardly any bureaucracy when it comes to supplying products to foreign markets. The rate of technology adoption is high because the technologies are already developing fast there,” he explained.

Maxim Chereshnev said that there are plenty of startups in Russia, with innovative ideas and technologies. However, these companies are not good at sales.

“It often happens that entrepreneurs don’t know how to sell or showcase their technology. They don’t know how to handle the economics of their product’s implementation.”

Inline Group Marketing Director Olga Tsipilyova agreed by adding that there are indeed new solutions in the Russian market but there is often no clarity as to how to implement them.

“It is not clear what economic effect we can get from these technologies and what industrial applications of the new products could be,” she concluded.

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