Venture Company Yakutia establishes close relationships with RVC

A press conference of RVC’s representatives, organized by Venture Company Yakutia in order to establish long-term partnerships with RVC, took place on the 17th of October in Yakutsk.

The Deputy Director General Alexander Tertychenko and the specialist of the Department of Regional Infrastructure Development of Russian Venture Company Nikita Utkin familiarized themselves with the activity of their colleagues from Yakutsk, and conducted a series of business meetings with the chairman of the State Committee for Innovation Policy and Science of the RS(Y) Maxim Trofimov, the Deputy Minister of Economy and industrial policy of the RS(Y) Eugene Chekin, the Deputy General Director of National Investment Company Pavel Stepanov.

According to Nikita Utkin, it is important to agree on how, where, and what economic sector to invest in first. The guests from Moscow liked what they saw in Yakutia, but, according to Utkin, there were some issues to be resolved.

Among these issues is the board of Venture Company Yakutia. According to the representative of RVC, it should include not only respected scientists, but also people with necessary experience in venture capital investment. RVC’s representative suggested the institution of independent directors. Yakutia authorities indicated that they were already moving in that direction and the president instructed all companies with state participation to consider the issue of attracting independent directors. RVC offered its experts who will carry out independent and competent assessment of the projects in terms of technological, financial, and other issues.

Another important point mentioned by the representative of RVC is the industrial focus. N. Utkin stated that a small venture capital company with small share capital cannot afford investing in a wide range of projects: today in medicine, and tomorrow in the IT sector. In his opinion, it is necessary to focus on those sectors that meet the needs of the region - for example, energy efficiency, information and telecommunications system. This question, according to the Director General of Yakutia Company Tertychenko, will be carefully considered.