As a result of unprecedented global economic down-turn, against the background of global hydrocarbon wars aggravated by the pandemic, thousands of projects were ceased or frozen for an indefinite period, the investment activities collapsed, millions of people were out of work. The crisis recovery is to be long and complicated.
The Duma passed the first reading of the draft law “On Amendment of the Federal Law “On Science and State Scientific and Technical Policy”, which, in order to implement the Russian President’s Address to the Federal Assembly, was sent for establishment of the allowable level of financial risks in venture capital financing using public funds.
The purpose of the draft law is to form the single system of state support of innovation activities. The following concepts are regularized: “technology project”, “venture capital and direct financing of innovative and technological projects” and “innovation development institution”. It is established that, when performing venture capital financing of innovative projects, the uncertainty of market and technological prospects of implementation thereof, which may entail, inter alia, loss of financial and other resources, shall be considered.
In the context of this amazing initiative, I could not help expressing my puzzlement about the house arrest of Alexander Povalko, Director General of RVC. I have known Alexander for more than 10 years: he is thoughtful, wise, point-device in business and careful for risky transactions, frank – this is how I can characterize the Director General of RVC.