The State will correct venture

In the domestic market equity and venture capital funds in the most popular use IT-technology. According to a preliminary review of the market in 2010, made by the Russian Association of Direct and Venture Investment (RAVI), the information and communication technology (ICT) took the lead in terms of investments. Last year in this segment was recorded transactions of more than $ 1 billion when the total market volume of $ 2.4 billion share of ICT was 43%. Investment in this sector increased compared to 2009 (about $ 98 million, or 19% of total transactions) is about 10 times. The disproportion of distribution of investment capital by industry is especially evident in comparison with Western venture capital market. Thus, the U.S. IT-company last year raised $ 7.2 billion, or 27% of total investments. In the near future the share of IT-projects will only increase. Thus, by the end of the year the Russian Venture Company (RVC) is about to launch a cluster fund information and telecommunication systems, mechatronics and robotics with a capital of 1.5 billion rubles to be invested in robotics and the creation of IT-infrastructure. The mathematical heritage. Reasons that investors are more willing to just give away their money IT-startups, a few. Introduced in the 1990 IT industry for 20 years, has formed a good base, which was understood by western companies began working together with Russian partners. IT-products from Russia and their producers can fully integrate successfully into the international supply chains. Also, a large proportion of IT-sector investment in film in many ways provide a networking start-ups. "The dominance of the Internet among the recipients of investment projects due to the relatively low initial investment volume and audibility and intelligibility of business models of projects, - the analytical report of the RVC. - But most importantly, Internet projects have potentially high return on investment. " The size of investments in Internet and software development projects, especially in the early stages, can be extremely small, confirms Michael Ushakov, founder of the project "Metabar" earlier - the junior partner in the fund Runa Capital: «For the start of the project team and organization can sometimes enough for tens of thousands of dollars. This opens the way for investment in those who simply do not own millions to invest in more "difficult" areas like energy. " The country's transition to innovative development and modernization of social and economic life - an important leitmotif in the speeches of political leadership. And as information technology one way or another affect most areas of modernization, their inevitable support more active investment compared with other industries. Finally, devoid of the Soviet legacy in the form of lengthy research institutes and frozen due to the secrecy of projects, IT-industry received from the last century, the main resource - the human. A strong school of mathematics, inherited from the Soviet Union, Russian was the key to the appearance of a start-up teams with strong programmers. The obvious benefits of running IT-project and search for his investments are accompanied by an equally obvious difficulties for those who choose to run your startup, for example, the energy sector. As noted in the report of the company Cleandex in 2010, in Russia there are no subsidies for biofuel producers, and one of its varieties - bioethanol - does equate to a food alcohol, because of what is subject to the relevant excise duty, which is above the cost of a liter of conventional gasoline. However, there are positive examples in the field of energy and energy efficiency. Thus, we can recall the case with "Optogan." The success of this project created with the participation of "RUSNANO", largely due to government support for production of LEDs. But this is more the exception than the rule. However, the interest in ICT in general and Internet projects in particular - the global trend, and Russian investors are just trying to keep the bow into the wind. The success of Google, Facebook, Skype for all to see, and this naturally gives rise to a desire to earn a lot and quickly. "Internet services and software - the world's only industry in which it is possible for one year, grow the company from zero to the value of billions of dollars", - said Mikhail Ushakov. Zero biotech. How obvious activity of Russian investment funds in IT, as is their modest activity in other areas. RVCA in his review drew attention to the neglect of investor companies in such areas as ecology, alternative energy, new materials, "At the same time these industries are subject to active investor interest abroad, not least thanks to the various support measures for these sectors of the state" . This imbalance can lead to a situation of catching-up development of these industries in Russia, warned the association. In fact, all over the world can observe an increasing strengthening the position of cleaner technologies in the list of investors. According to the Cleantech Group, last year's venture capital funds in North America, Europe, India and China have invested in the company of the sector $ 7.8 billion (28% more than in 2009). In addition to energy, Russia is catching up on positions and to investment in health. In 2010, U.S. companies from this sector attracted $ 7.4 billion, with major investments in the amount of $ 3.4 billion went to the biopharma sector. At the same time, the report RVCA did not get any investment transaction involving the Russian biotech. Lack of interest in projects of this sector of the Russian private sector funds can be explained. To develop innovative products in the industry, requires a serious infrastructure. Such a start would be to ask for money for lab equipment, pre-clinical and clinical trials. The only way - to give some work to outsourcing, and foreign companies, which, though less expensive but still costly affair. Only the presence of a strong infrastructure makes greater investment of money in biotech startups in the U.S. - 14% of the total venture capital investment of $ 26.2 billion, however, according to preliminary data RVCA, last year gives us hope that soon we can talk about a new positive a trend. Association recorded a growth of 40% of the total volume of investment transactions in medicine and health care in 2010, in which were invested $ 53 million now, though, it makes up only 2.1% of total fixed investment last year. To a large extent, these industries are obliged to increase venture capital funds established under public-private partnership. Thus, MER funds in 2010 invested in healthcare and pharmaceuticals 1.4 billion rubles. In anticipation of the change. The balance of power in the venture capital market is still changing. Drivers for new industries may be new specialized funds that are created with the participation of state institutions. Thus, early in 2011 began his work with the planned MER Biofond size of the authorized capital of 1.5 billion rubles. Its purpose is just to be investing in a service company that will provide consulting services to new projects, analysts and laboratory services. Ideally, the fund will have to create an ecosystem which will appear and develop biotech startups. The share of innovative products on the Russian market, domestically produced, is, according to expert estimates, less than 1%. In this, according to director Biofonda RVC Yegor Beketov, the capital also will go to projects that develop innovative biologics. The fund will operate under the following conditions: The maximum amount of investment - no more than 50% of the total funds needed for innovative biopharmaceutical companies, for the rest - no more than 75%. The first round of investment Biofondom not exceed 100 million rubles, and can only be done in conjunction with private investors.