December 8, 2014
Representatives of the GS Group holding company took part in the Forum of regional innovation infrastructure development “Innovation Ecosystem” held in Krasnaya Polyana, Sochi on December 4-5, 2014. The opportunities of the GS Venture corporate venture fund and the major vectors of its development were unveiled at the round table discussion “Corporate venture funds”.
Andrew Bezrukov, Director for Strategic Marketing, GS Group, reported on the specifics of corporate venture funds by the example of success story of GS Venture, spun off as a separate business unit within the holding company structure in 2014. The speaker noted the Fund’s opportunities to support innovative projects including investment in developments and logistical support, assistance in entering the finished product into the market, its advertising and promotion.
GS Venture corporate venture fund aims to work with innovative projects that can be rolled out on the basis of GS Group business areas, and in particular at the enterprises of the innovation territorial cluster Technopolis GS, developed by the holding company in the town of Gusev, Kaliningrad region. As of today, the Fund invested 200 thousand euros in development of the Share the Moment project by the Finnish startup Tellyo. The Fund activities also embrace supporting the innovative initiatives by participants of the Startup Bar in Kaliningrad and searching for the video game startups with opportunities for commercialization within the free-to-play business model.
“GS Venture corporate venture fund has a clear investment focus on the field of telecommunications and microelectronics. On the one hand, it complicates the search for relevant projects, on the other hand it increases the demand for the Fund as an investor for startups that meet our criteria, – pointed out Andrew Bezrukov, Director for Strategic Marketing, GS Group. – Our participation in the forum contributed to exchange of expertise, helped improving the methodology of GS Venture activity and promoting the holding company initiatives for the national innovation ecosystem evolving as a whole.”
“Innovation Ecosystem” forum aims to increase competences of the territorial entities of the Russian Federation on the opportunities to elaborate and commercialize innovative scientific developments. The event attracted more than 200 leaders of innovation clusters, business incubators and technoparks, field-specific universities, venture funds, government officials and experts in the field of innovative development. RVC, OJSC acted as the forum organizer jointly with the Ministry of Strategic Development, Investments and Foreign Economic Activity of Krasnodar region with support of the Ministry of Economic Development of the Russian Federation and the Ministry of Communications and Mass Media of the Russian Federation. The speakers included the representatives of RVC, Philips International, Moscow Seed Fund, Rambler, the Ministry of Economic Development of the Russian Federation and others.