Sinteka, a St. Petersburg based developer of a cloud solution for construction companies, has recently raised $254,000 from one of Russia’s most active government VC funds, the Internet Initiatives Development Fund (IIDF, aka FRII in Russian).
RB Partners Group, an international group of companies focusing on investment and banking services for Russian and international midcap companies, prepared and published its venture market report for 1H 2017.
Skolkovo resident ExoAtlet, the inventor of rehabilitation exoskeletons that help disabled people to walk again, has set its sights for expansion on Japan, where it is setting up a joint venture with its South Korean partners and investors.
This year Rosneft, Russia’s largest government-owned oil company, was one of the key customers for technologies that come from a government fund called National Intellectual Development, aka Innopraktika.
Scientists at Russia’s Higher School of Economics (HSE) conducted in-depth research covering a period between 2000 and 2016, and found that government coffers remain the largest source of funding for R&D in Russia, while the share of involvement from private business is shrinking.