By the special invitation from the Russian Government, President Medvedev’s Administration, and the affiliated organization “Rossotrudnichestvo”, Intechnic was invited to participate in Business Forum in Moscow.
In the beginning of December, 2011, I traveled to Moscow, Russia, on behalf of Intechnic. The main goal of the forum was to learn about Russia’s most recent developments in the high-tech industry and the emerging business opportunities.
The Forum was organized to connect business leaders from the U.S. with their counterparts in Russia. During the program, the group of 60 US business professionals had visited RosNano, The National Research University Higher School of Economics, Manager’s Association of Russia, Vladimir Region, Kraft Foods, TV station “Russia-24” and met with Skolkovo officials.
Currently, Russian government is investing in the Skolkovo Foundation, a non-profit organization which will expand new science and technology boundaries and will serve as innovation hub, similar to Silicon Valley. The main idea is to create an attractive environment for high-tech projects to grow from scientific theory to production, from start-up to major business operations. The Skolkovo Foundation provides grants on projects in 5 key industries: nuclear, space, IT, energy & power, efficiency and biomedicine.
The different organizations expressed different insightful visions about establishing business in Russia. However, they all pretty much agreed that doing business in Russia has many benefits, such as: undeveloped markets, huge potential customer base, needs in quality service industry and lack of online technologies. The downside of doing business in Russia is high levels of bureaucracy and corruption.
Professor of University Higher School of Economics, Dmitry Syslov, suggested that the most “safe” industry to enter Russian market would be the hi-tech/online arena. This is an undeveloped area for the post-Soviet country and there is still not a lot of competition. He also suggested, that now is the perfect time to enter the Russian market and that in 5-10 years it would be too late.
Based on the program feedback and result,s “Rossotrudnichestvo” is planning to continue the initiative of connecting the U.S. and Russian business leaders in 2012