Earlier this month Russian state atomic energy corporation Rosatom announced that it will inject 6 billion rubles (a little more than $100 million at the current exchange rate) in a corporate venture fund.
Earlier this summer President Putin urged Russia’s largest corporations, including Rosatom, “to create subdivisions that will work closely with startups and small innovative companies, as well as venture funds, to finance such projects.” The government’s new strategy focused on digital innovation as “a new paradigm for the development of the state, the economy, and society.”
Scheduled for launch next year, the Rosatom fund will target startups, technologies and solutions which can potentially be integrated to corporate operations.
Besides, Rosatom is planning to launch an electronic platform called “Ideas exchange.” In addition, the corporation will hold a startup contest in early 2018, with the 10 best projects eligible to receive funding.
Last month Roscosmos, the Russian space agency, launched its own venture fund to support space innovation in Russia.
