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Alexander Shumilin: UNECE recommendations will be used in building a venture ecosystem

Alexander Shumilin: UNECE recommendations will be used in building a venture ecosystem

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Alexander Shumilin: UNECE recommendations will be used in building a venture ecosystem

The recommendations of experts from the UN economic Commission for Europe will be used in the development of a regulatory act on the creation and development of a venture ecosystem in Belarus. This was announced today at the opening of the seminar "options for providing risk capital to innovative enterprises in Belarus" by the Chairman of the State Committee for science and technology of the Republic of Belarus Alexander Shumilin. According to him, the state attaches great importance to the development of innovative small and medium-sized businesses, as well as youth entrepreneurship, since this sector is becoming the engine of innovation, being the most mobile and flexible, able to quickly respond to constantly changing market conditions. "We will continue to support and develop small innovative entrepreneurship, create conditions for self - realization of our youth, so the search for new mechanisms to stimulate innovative business, the development of a system of venture financing, including taking into account international experience, is very important for us," said Alexander Shumilin.

He also noted that international UN experts, including those from Europe, the United States and Russia, have prepared proposals for diversifying innovation financing instruments by creating a new mechanism for the country's venture financing of innovative projects with direct state participation. "Each of the options proposed by experts for the development of venture financing is attractive in its own way, but at the same time it has aspects that the national venture ecosystem should be prepared for," Alexander Shumilin stressed. At the same time, the Chairman of the SCST did not rule out that in practice different models can coexist and function.

The state Committee for science and technology is actively developing innovative infrastructure. A network of 17 technoparks has already been created in the Republic, which cover all regions of our country and are centers of attraction for innovative production and development. New innovative enterprises are registered in them every year. In addition, there are more than two dozen business incubators that help startups in a number of areas: from organizing office space, providing accounting and legal services to attracting investment in projects. More than a thousand startups are implemented in the country every year.

More than 50 specialists and experts took part in the seminar "options for providing risk capital to innovative enterprises in Belarus". It was organized by the state Committee for science and technology of the Republic of Belarus and the United Nations economic Commission for Europe with financial support from the government of Sweden.