Venture Fund of Kaluga region intends to abandon the practice of waiting for the projects. According to the representatives of the fund, lack of quality projects that meet the criteria for investment, will be removed by vigorous activity of the fund for self-forming teams of these projects, taking into account specific technical problems.
We decided not to wait for the projects as the main method of receiving them, we will create our own projects now - a source in the regional venture capital fund of Kaluga region reported to . The source said that the fund receives enough applications but the quantity does not mean quality. Most of the projects are not focused on customers. The applicants, as it turns out, are not technological entrepreneurs but engineers, because they do not know how to build a growing business, how and what market to enter - the interlocutor tells VBN, - but they want to get as much money for its technical creation as possible to continue working on it.
The task of the venture fund is not just to finance a design activity, but to build a successful fast-growing business which will take its rightful place in the market and become profitable.
It is possible to eliminate these difficulties between innovators and investors through the coordination of their work: to create project teams to meet the requirements and needs of the customer. We have good business relations with large and solvent corporations and companies that tell us about the real problems facing them and requiring innovative solutions - the source of VBN in the fund says. - We are going to transform the problems into concrete tasks for developers, thus directing their minds to solve specific business problems.
The structure of the professional team will certainly include the developer, which will most closely work on the task. The representatives of the Foundation will watch all the stages of team’s work to motivate the team to achieve results, providing all necessary support. The end result will be a sale of the project to the customer or duplicating it in the industry.
Also, has learned that three new projects were submitted to the fund’s board of trustees - all at the seed stage of financing. We will examine technologies, markets, teams and will structure the deals - concluded the source of VBN.
Closed fund of high-risk (venture) investments Regional Venture Fund of Investments in small scientific-technical enterprises of Kaluga Region was founded in 2010 on the model of public-private partnership within the framework of Russian Ministry of Economic Development program of the regional venture capital investments in high-tech developments and venture firms.
Savings and Investment managing company runs the fund. The size of the fund is 280 M RUR.