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Industrial Development Fund to Attract Startups FRII for Russian Industrial Enterprises

July 12, 2016 on "INNOPROM-2016" in the presence of First Deputy Minister of Industry and Trade of the Russian Federation Gleb Nikitin, director of the Industrial Development Fund (EDF) and Alexey Komissarov Director of the Foundation of the Internet initiatives (FRII) Kirill Varlamov signed a cooperation agreement. It aims to attract companies from the portfolio of projects FRII to implement their development at Russian industrial enterprises.

The initiative will create a new interface implementation startups promising developments in the real sector of the economy - industry. By the end of 2016 EDF will enable the company to reduce the long-term FRII with existing industry for the introduction of new technical solutions. The industrial sector is going through a period of active "information": IoT-implemented solutions (Internet of Things), which allow for continuous monitoring and automation of all stages of production management.

"The widespread adoption of the Internet of Things - is the way to entirely new principles of operation of industrial enterprises in Russia. Since the Fund for the Development of Industry is the main agent of Industry and Trade on the implementation of the new industrial policy for the ministry, and FRII - the main partner of the Ministry for the development of a road map of the Internet of things, they should go side by side to the new technological order, "- Gleb Nikitin said.

Information about portfolio FRII projects that have the potential to be implemented in the industry, will be available in the State System of Information Industry (GISP), the operation and which leads the development of the FER. It is expected that by the end of 2016 GISP functional area "Startups" will be formed, in which the representatives of the industry will be able to find new technological solutions, and instructions for their implementation. electronic interaction function will allow "startups" and existing industrial enterprises to find information about the possibilities and needs of each other and thus accelerate the implementation process in the production of advanced development. Also FRII portfolio companies will be able to take part in the development of new functions of GISP.

Reference

State Information Industry System - a comprehensive solution for the automation of administrative and service processes, as well as support for decision-making in the Ministry of Industry and Trade of the Russian Federation. GISP established pursuant to the Federal Law № 488-FZ "On industrial policy in the Russian Federation" dated December 31, 2014.

Currently, GISP, you can: keep track of financial and economic state enterprises and the progress of the import substitution projects; monitor the implementation mode of project management tasks;advise the company on state support measures in an interactive format and to provide other functions.

By 2018, GISP will automate the process of collecting and processing information required for the implementation of industrial policy, to stimulate activities in the field of industry, as well as to improve the efficiency of the exchange of information about its condition and development forecast.Operation and development of technical platforms GISP coordinates EDF.

Foundation for Development of Internet initiatives (FRII) - Russia's venture capital fund, established in March 2013 by the Agency for Strategic Initiatives. The fund provides investment technology companies in the early stages of development, start-ups provides consulting and educational support within the accelerator FRII, and also participates in the development of methods of legal regulation of the Internet business and venture capital industry. FRII mission - to make the Russian market is understandable and accessible to every entrepreneur who wants to start or expand their business on the Internet. The volume of assets under management FRII is 6 billion rubles. The portfolio of the fund more than 200 projects. According to statistics from Dow Jones VentureSource FRII is the most active venture capital fund in Europe in the number of transactions.

Industrial Development Fund set up for the modernization of the Russian industry, the establishment of new industries and provide import substitution. The Fund offers favorable conditions for co-financing of projects aimed at developing new high-tech products, modernization and creation of competitive industries on the basis of the best available technologies.

Foundation for the development of industry - an important element of the state system of measures aimed at improving the global competitiveness of the Russian industry and carrying out import substitution policy.

Fund co-financing programs allow Russian companies to access on favorable terms to the financial resources necessary to establish the production of unique local products as well as international counterparts advanced development.

To implement the industrial and technological projects on a competitive basis Fund provides targeted loans at the rate of 5% per annum for up to 7 years in the amount of from 50 to 500 million rubles, stimulating the inflow of direct investments in the real sector of the economy. There are four loan programs: "Development projects", "Consortia Projects," "Projects stankozamescheniya" and "Leasing projects."

In addition to the implementation of programs of preferential debt financing on the basis of the Industrial Development Fund was created and operates a consulting center that provides daily information and advice and support to help industrial companies to participate in tendering procedures for government support measures. Consultations are held by RF Government Decree of 14.12.2010 № 1016, and number 1017 (state guarantees for investment projects), from 11.10.2014 № 1044 (program of project financing), from 30.12.2013 № 1312 (subsidization of R & D expenses), from 03.01 .2014 № 3 (interest rate subsidies for the implementation of new investment projects), from 30.07.2007 number 419 (support for the forest industry) and on 03/12/2015 number 214 (subsidizing part of the cost of interest on loans for working capital and current activity) . In addition, consultations on the conclusion of the special investment contracts.

The fund was founded in late 2014 by the Ministry of Industry and Trade of the Russian Federation by converting Russian Technological Development Fund.