Calling for Increased Focus on Entrepreneurs in Technology

D3
August 19, 2016

Philanthropist and entrepreneur Alexei Beltyukov believes that Russia’s future economic growth will depend on how well it can support innovative small businesses and entrepreneurs that invest in technology.

In 2013, Russia’s GDP grew by only 1.4%, far short of the 3.2% predicted in December 2012. The slowing economy persisted into the first quarter of 2013 when growth fell to only 0.8% and the ruble lost 9% of its value against the dollar. As the economy continues to shift away from the popular trends of the 20th century, inflexible industries will naturally struggle against the rapidly changing landscape created by the marvels of 21st century technology.

At the forefront of their new high-tech economy is the Skolkovo Innovation Center located just outside Moscow. Since 2010, it has become a hub for new businesses specializing in the use of information, biomedical, nuclear, energy-efficient, or space-based telecommunication technologies. Much of this development is thanks to the management and support of the Skolkovo Foundation, which offers consultation and financial services to new Russian businesses interested in high-tech industries. The Skolkovo Foundation is a non-profit organization founded in 2010 at the behest of then president Dmitry Medvedev in order to oversee development of the center.

As Senior Vice-president for Business Development and Commercialization, Alexei Beltyukov oversaw the explosive growth of the foundation during its initial set-up. In addition to managing the development of the Skolkovo Innovation Center, the foundation also provides grant money to new businesses who must apply through a computerized application system specially designed with corruption avoidance technology.  Read more about Alexei on XRepublic, and be sure to follow him on Angel.co for more information.

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