Posted: Sep 15, 2010

Global Innovation Partnerships announces 2010 Silicon Valley trade delegation to Russia

(Nanowerk News) Global Innovation Partnerships announced that a high-profile Silicon Valley trade delegation to Russia will be held on October 9-14, 2010.
The trade delegation, which will coincide with California Gov. Arnold Schwarzenegger's upcoming official visit to Russia, will consist of many Silicon Valley luminaries, including:
  • Former Intel chairman Craig Barrett;
  • DCM Co-Founder and General Partner Dixon Doll;
  • DFJ Managing Director Tim Draper; Hummer Winblad Managing Director Mark Gorenberg;
  • DFJ-VTB Aurora Managing Director Alexandra Johnson;
  • Asset Management Company founder Franklin "Pitch" Johnson;
  • Silicon Valley Bank chairman Harry Kellogg; and
  • New Enterprise Associates Co-Founder and Managing Director Dick Kramlich.
  • In Russia, the delegation will meet with country leadership, Minister of Education & Science Andrey Fursenko, Minister of Economic Development Elvira Nabiullina, Tatarstan President Rustam Minnikhanov, Russian Venture Company General Director Igor Agamirzian, Russian Corporation of Nanotechnologies (RUSNANO) Chairman Anatoly Chubays, and Skolkovo Innovation City Co-Chairman Viktor Vekselberg, as well as with many of Russia's most innovative companies.
    In addition to visiting Skolkovo, Russia's newly-created "innovation city" and answer to Silicon Valley, the delegation will visit Kazan, Tatarstan, which is a regional center for technology and innovation. Members of the delegation will share their insights into how to nature start-ups into global technology companies.
    Mikhail Chuchkevich, Director of RUSNANO's Project Office, added, "Global Innovation Partnership trade delegations will be a key component of efforts to accelerate the development of innovative businesses, especially in the nanotechnology sector."
    Alexandra Johnson, President of the Global Technology Symposium, said, "As the technology industry matures, Silicon Valley investors have begun searching for the Next Big Thing in emerging markets. We hope that this mission convinces them that the Next Big Thing may come from Russia."
    Evgeny Kuznetsov, Director of Communication at Russian Venture Company, commented, "Russia is actively developing a network of innovation centers and institutes. We seek to achieve in several years what it took Silicon Valley decades to achieve. To this end, nothing is more valuable than the expertise of Silicon Valley's key business leaders. We will collaborate on specific investment projects to promote Russian companies in the global market."
    The October delegation will be the first in a series of several trade missions.
    Global Innovation Partnerships is a joint venture of the Global Technology Symposium, RUSNANO, Russian Venture Company, Silicon Valley Bank, and Skolkovo Innovation City and is supported by the U.S.-Russia Business Council.
    About the organizers
    Global Technology Symposium
    The Global Technology Symposium is the leading investment conference on venture capital, technology, and entrepreneurship in emerging markets. Each year, the Symposium brings more than 300 selected opinion leaders in business, finance, technology, and policymaking to Silicon Valley, where they share insights into the opportunities and challenges of globalization. The next Symposium will take place on March 23-25, 2011.
    The Russian Corporation of Nanotechnologies (RUSNANO) coordinates the Russian Federation's innovation agenda to commercialize promising research and development in nanotechnology. RUSNANO co-invests in nanotechnology projects likely to make a significant economic or social contribution to Russia. In addition, RUSNANO develops partnerships with the world's leading nanotechnology centers and organizes the annual International Nanotechnology Forum in Russia.
    As of September 2010, RUSNANO has approved the financing of 90 projects. Collectively, these projects have attracted a total of RUB 302 billion (USD 9.9 billion) in funding, of which RUSNANO expects to invest RUB 123 billion (USD 4.0 billion).
    Russian Venture Company
    Russian Venture Company (RVC) is a government fund of venture funds. RVC's mission is to promote Russia's domestic venture capital industry by capitalizing venture funds, most of them privately-owned. In addition, RVC acts as a "think tank" for the Russian venture capital industry to originate public policy ideas for the benefit of the venture capital sector.
    As of September 2010, RVC has backed ten funds with a capitalization, collectively, of RUB 22 billion (USD 710 million). RVC's stake in these funds is, collectively, RUB 12 billion (USD 383 million). These funds collectively have backed 31 companies in which they had invested RUB 4.5 billion (USD 143 million).
    Silicon Valley Bank
    SVB Financial Group provides diversified financial services to emerging, growth and established technology companies and the life science, venture capital and premium wine markets.
    U.S.-Russia Business Council
    The U.S.-Russia Business Council is a Washington-based trade association that provides significant business development, dispute resolution, government relations, and market intelligence services to its American and Russian member companies.
    Source: RUSNANO
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