Business news

MINSK, 9 March (BelTA) – A Belarusian-Russian venture investment fund is expected to finance the first few projects by the end of 2016. The statement was made by Chairman of the State Science and Technology Committee of Belarus Alexander Shumilin during the video briefing on this year’s prospects of Belarusian-Russian scientific cooperation on 9 March, BelTA has learned.

“The project is in the final stage. The fund is expected to finance the first few projects by the end of the year,” stressed Alexander Shumilin.

The official noted that a draft presidential decree had been prepared in Belarus and had been approved by the government. In Russia the relevant decision has been made at the level of the Board of Directors of the Russian Venture Company. “The decision in principle has been made in Russia already. We expect the approval of the decision by the head of state in Belarus. I think the decree will be signed within a month or two. After that it will be necessary to establish the fund within six months and get down to work,” stated Alexander Shumilin.

Apart from that, work continues to create a Belarusian-Russian technopark. “We are working on the list of universities that will become part of the technopark. The Belarusian State University has expressed its interest. I think its premises will be utilized in the end. Other universities will be able to take part in the project as well. In Russia universities of Saint Petersburg and Novosibirsk are under consideration,” said the official.