Putin instructed large companies of Russia to start creating venture funds

Putin instructed large companies of Russia to start creating venture funds

Russian President Vladimir Putin instructed the country’s largest companies to create investment funds to support and finance various start-ups. The president announced this by holding a plenary session at SPIEF-2017. 

Putin appealed to the leadership of Russia’s largest companies, such as Roskosmos, Rostech, Rosatom, UAC, USC. The president instructed them to create units that will support small businesses and start-ups in the future. Companies also have to create venture funds, which will finance a variety of projects. A large business must have a clear and understandable legal mechanism that will apply to the purchase or management of the capital of small innovative companies.

"The government and the State Duma should consider this issue in the near future and adopt appropriate amendments to the laws.", - Vladimir Putin said.