Provisions of law about startups at universities to be checked

Provisions of law about startups at universities to be checked Russian Prime Minister Dmitry Medvedev held a meeting of the expert community on the development of entrepreneurship in universities and research centers on August, 7 in Novosibirsk, which was the last point of Siberian Federal District tour. Medvedev dwelled on the question of provisions of law that govern the activities of innovative companies under high schools.

This law will be analyzed for appropriate restrictions imposed on the universities by order of the Prime Minister.

I do not mind to review a number of rules of this law in compliance with the realities of today. I am ready to give instructions, - the head of government said.

According to the CEO of Technopark in Novosibirsk Akademgorodok Dmitry Verkhovod, the law in many ways holds back the development of innovative enterprises that are created at universities and research institutes for the commercialization of scientific developments. In particular, money earned by such enterprise and received on a single budget account of the university is subject to all specified government-financed organization limits. Verkhovod offered to free public universities, laboratories and research institutions from being guided by the norms of the Budget Code while directing the proceeds of intellectual property.

In addition, said the CEO of the Technopark, innovative companies at universities and research institutes do not actually have the opportunity to raise funds from outside investors because of the law limitations. So the companies are unable to attract additional private investments after the creation of enterprises without investing the appropriate amount of their own funds.

Also, Medvedev expressed the view that state-owned companies should create their own IT-department in the industrial parks. We should not force them to do it, but stimulating intra-procedures are quite possible, the Prime Minister said.

Unfortunately, our major companies that are mostly companies with state participation, do not hurry to come to the technoparks, to attract small businesses. Should we do this by all means? We need to encourage them, - Medvedev said.