For this, the financial institution with a partner plans to create a special fund.
Sberbank and the Russian Venture Company (RVC), part of the Russian Direct Investment Fund (RDIF), will create a $ 100 million fund to finance technology and science-intensive startups. Information about this appeared in the press release of the credit institution.
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- Teams of startups operating in the country can apply for the funds of the fund. Financing will also be available for projects whose representatives intend to enter the Russian market.
- Within the framework of the fund, the credit institution and RVC plan, among other things, to attract RDIF’s international partners to investments in technology and science-intensive startups.
- The head of Sberbank, German Gref, noted that the initiative is in line with the plans that the Russian government plans to implement as part of the strategy for Russia’s innovative development and reforming development institutions.
“Together with RDIF, we want to create a culture of high-tech and knowledge-intensive entrepreneurship in Russia in order to grow unicorn startups that will be competitive on the world stage,” German Gref commented on the initiative.
- The head of Sberbank also drew attention to the fact that in Russia there are no analogues of the fund developed by his company and RVC. According to him, “there was no such element of support and development of small innovative business in Russia before.”
We will remind, recently the information appeared on the network that Sberbank intends to help Rostelecom collect biometrics of Russians.