Tomsk envisions its own venture fund to depend on no Moscow funders

Tomsk envisions its own venture fund to depend on no Moscow fundersThe Tomsk city administration has announced plans to set up a regional venture fund in this Siberian city to support local innovation projects independently from Moscow-based funders.

The Tomsk city administration wants to set up a regional venture fund in this Siberian city to improve the support of local innovation projects, Roliti.com reported, citing regional government plans. According to a government source, the Tomsk region?s innovation infrastructure ?works poorly.? An innovation company needs investment following the development of its new technology or product, and here ?problems arise.? With Rusnano, Russian Venture Company and other support ecosystem players all based in Moscow regional innovators have to wait way too long before their projects are assessed and possibly funded, the official complained. The city administration wants local scientists and innovative entrepreneurs to be less dependent on the Moscow-based funders and claimed last week that ?at the moment, several companies are ready to invest in the new regional venture fund? on the condition of the government co-financing projects with them. Co-funding will give the investors additional guarantees of the fund?s seamless operation, Roliti said...