Rusnano

By Dmitry Lisenkov of Rusnano

With a long history of scientific breakthroughs, a growing market for high technology and tangible commitment from the government to economic modernisation, Russia is well placed to diversify its economy with high-tech innovation.

International venture capital companies are starting to see the opportunities. I believe that with enough effort from the Russian public and private sectors to leverage the country’s technological and VC resources, the potential of Russia’s innovation can be turned into reality. 

When the Kremlin invited a group of US venture capitalists to Russia during the financial crisis, some of the visitors saw as much an opportunity to scout for fresh sources of capital as they did a new place to invest in.

Domain Associates, a California-based life sciences venture fund, has found a way of combining both goals in a partnership with Rusnano, Russia’s state nanotechnology company.