Central regions | Technology & innovation | Finance, business

Seed investment grew in Russia in 1H 2012, innovation monitor says

30 Aug '12
NAIRIT, a Russian national association monitoring domestic innovation and IT, has published its Russian innovation industries analysis for the first six months of 2012.

According to the Association, regardless of the global economic meltdown, a total of $46bn in support of innovation programs and projects has been allocated for this year from both Russian federal and regional government coffers, up 10-15% y/y. However, a maximum of $13bn was spent in the first six months of the year, down 8% y/y.

Private VC funds did not boost investment compared to results of the first half of 2011, staying level at a total of $80m injected into just over 40 projects. (For comparison, in the first six months of this year US-based venture funds pumped more than a reported $12bn into as many as 1,600 projects.)

However, the structure of investment has changed. In the first half of 2012 later-stage investments reportedly shrank by 10% y/y, while seed-stage projects received an estimated 15-50% more funds than a year ago.

The IT and telecom sector traditionally accounted for the largest share of investment raised (25%), followed by energy and energy saving (14.1%), biotech and medicine (12.2%), and transport and engine-making (12%).

According to this yearís NAIRIT poll conducted for an estimated 1,150 innovators across 52 regions of Russia, the respondents emphasized social and household difficulties (39.7%), a high level of corruption (26.3%) and government officialsí tyranny (23.6%) as the largest hurdles impeding the development of innovation projects in Russia.
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Tags: analysis (8) / poll (6) / NAIRIT (4) / Russian innovation industries (0) /

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