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Russia, the Innovation Powerhouse: Progress and Challenges

Russia, the Innovation Powerhouse: Progress and Challenges. Serguei Beloussov, Founder and CEO, Parallels. Runa and Almaz Team: Global Entrepreneur Track Record. Overall material success:

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Russia, the Innovation Powerhouse: Progress and Challenges

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  1. Russia, the Innovation Powerhouse: Progress and Challenges Serguei Beloussov, Founder and CEO, Parallels

  2. Runa and Almaz Team: Global Entrepreneur Track Record • Overall material success: • Created total assets for many billion USD starting with only several millions of cash investment in technology • Experience scaling global revenue: • 1 business over $1B revenue, 5 over$100Mrevenue, 7over$10Mrevenue, 7 over$1M USD – allprofitable Current Focus:

  3. Technology Will Change The Future –Biotech, Quantum and The Cloud Cloud Changes Everything • In the cloud, effective resource usage is key -> The ‘’rocket science” in Computer Science will matter again • Power is 30% of datacenter costs • Cheap land in the right locations Algorithms, electricity, land • 1/3 of all Fields medal winners • Cheapest “Green” in the world • Low ambient temperatures • In between 5bln users from Asia and Europe Russia has it all • Computing resources are shared by cloud users • Software and data are stored in the cloud itself • Density and complexity increased by 10,000-100,000 times • Nobody buys the hardware anymore

  4. Skolkovo (and other) – a Real Shot at Success, at Last • Innovative projects have long term horizons, 5 - 20 years. How to motivate in a high discount rate environment? • Public perception of the innovator should change from “mad scientist” into a “cool entrepreneur” Getting Motivation Right • Faster and easier immigration and visas for foreign talent • Faster and less restrictive customs • Lower tax burden for high technology entrepreneurs Aligning Business Benefits • Grants are not supposed to generate direct returns • But payback in jobs, taxes, positive PR is a greater good • Not a perfect system, questionable for business, but works when properly administered for pure R&D Supporting with Public Grants

  5. Key Challenges for Skolkovo • Lack of clear transparency, information and integration with international efforts • Few true local success stories yet • But: If people hate you, you must be doing something right Undeserved Media Bashing • How to get top 3% of global entrepreneurs, engineers, investors and companies to participate and truly support? • Value of “freedom” and “flexibility” - forgetting about Bottom 30% Getting to Top 3% • Great ideas require hard, consistent efforts to be properly implemented - no substitution for long and tedious work • Consistent government policy for other relevant projects – RVK, Bortnik, Zvoryikin, Rosnano, Science projects Consistency

  6. Key Open Questions • Direct grants to established companies or investing into accelerator funds that help companies with R&D, technology and operations? • What should be the relationship with Investors? Grants or Accelerators? • Should it be all in one place long term? • Skolkovo as a symbolic example and as a catalyst • Could Skolkovo be made profitable and should it be? Local or Distributed? • The US university culture has produced 50% of all entrepreneurs, it is also good for R&D and processes • Russia has great traditions of engineering education, but now students have little opportunities for real R&D practice MIT or MIPT?

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