The Far East High Technology Fund will invest up to 350 million rubles in pilot innovative projects

Within the framework of the Eastern Economic Forum (EEF), which is being held in Vladivostok, the Far East High Technology Fund (FEHTF) established by the FEDF, RUSNANO and RVC has concluded a number of agreements with companies developing prospective innovation solutions. The total amount of investments of the Fund in these companies can amount to 350 million rubles.

In particular, FEHTF will support companies developing unique hydrogen fuel cells for drones and robotic technology, intelligent modular system for ensuring industrial safety, VR-learning platform, as well as autonomous energy supply system that allows converting gas from gas pipelines into heat and electricity.

“The Fund invests in innovative projects, which target and aim to address specific problems in the Russian Far East and drive the macroregion’s industrial development. With the support of the Fund, we are confident that cutting-edge technology will become the reliable backbone of business in areas including electricity generation, mobility and staff training. I hope our investment will make a substantial contribution to the transformation of the Russian Far East in a technologically advanced and competitive macroregion,” said Anatoly Chubais, the Chairman of the Management Board at RUSNANO
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“There is great potential in the Russian Far East for realizing breakthrough innovative projects. Russia’s Far East is home to many talented people and it is where many large enterprises do business, so the demand is there for high-tech products and services in agriculture, fishing, oil and gas, mining and other industries. State support for the introduction of effective innovative technology will help making the economy of the Russian Far East more competitive,” Aleksey Chekunkov, CEO at the FEDF
.
“The Far East High Technology Fund was announced at the EEF a year ago. It has moved into the active phase of investment within just a short period of time, and has succeeded in creating projects, which are currently in the pipeline. It is important to note that the priority of the Fund’s investment strategy is projects that correspond to NTI markets. We are talking about unmanned vehicles, neurotechnologies, personalized medicine, new production technologies, and intelligent energy. This is the fifth fund in RVC's portfolio, which mandate is focused on NTI. Thus, we expect to expand the line of venture support tools for the National Technological Initiative projects,” said Aleksandr Povalko, CEO at RVC
.
“The authors of the first innovative developments supported by the Fund offer innovative and effective solutions to topical issues faced by industrial enterprises operating in the Far East. It is important that the initiators succeeded in proceeding from the idea to the practical implementation of innovations independently. We see our mission in further promotion and development of promising projects – both through the provision of financial leverage and active assistance in expanding the market for products and services with the involvement of large business and state-owned companies that have production facilities in the Far East,” commented Ruslan Sarkisov, CEO at the Far East Technological Fund, on its first transactions.

A number of major industrial enterprises in Russia have already shown interest in the FEHTF projects. In particular, within the framework of the EEF, the Far East High Technology Fund has signed a number of cooperation agreements aimed at promoting and practical introduction of promising innovative developments with the Government of the Republic of Sakha (Yakutia), as well as major industrial companies implementing various projects in the mining sector.

The Far East High Technology Fund was established with the participation of the FEDF, RUSNANO, RVC in pursuance of the order of the President of Russia V.V. Putin on the development of high-tech industries and innovative activities in the Far East. At the first stage, the capital of the Fund will be 4.9 billion rubles, of which 1.7 billion rubles are invested by FEDF and RUSNANO each, while RVC will contribute another 1.5 billion rubles to the Fund's capital.

FEHTF is an intellectual partner of the EEF Youth Venue. Pilot projects of the technology fund are presented in the high-tech pavilion at the Street of the Far East Exhibition.
On the days of the EEF, the FEHTF representatives hold a series of consultations for developers of innovative projects, and also take part in the investment session and the selection of promising startups. Information on promising high-tech projects is presented at the FEFU Technopark booth (building A, level 4).

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