Third Russian Venture Fair to Take Place in St. Petersburg from October 17-18

The third Russian venture fair will take place in St. Petersburg from October 17 to 18. According to the Centre for Strategic Development in the North-West foundation, 500 companies have already announced their intention to take part in the fair, either as potential investors or simply as spectators. The Russian Association of Venture Investment told Rosbalt's correspondent that over 60 companies from 22 Russian cities will present their projects to potential investors. In total, the companies are looking for USD 95 million. Of these, 32% are seeking capital investment of up to USD 500 thousand, 21% are seeking USD 2-5 million, and 9% require over USD 5 million. The exhibition will present companies working in the following spheres: telecommunications and software, instrument-making, engineering, medical technology and pharmacology, energy, and construction technology. The fair's framework will include a conference entitled Venture capital and Russia's innovative economy, a round-table discussion entitled Commercializing Russian technology and direct investment and a symposium called International programmes and financial institutes for Russia. The fair's partners and sponsors are Gazprom, the St. Petersburg Currency Exchange, the Russian Technological Development Foundation, the Foundation for the Promotion of Small Business in the Scientific-Technical Sphere, the British Council, the US Civilian Research and Development Foundation and others. Participants in the fair include the Russian Government, the State Duma, the Federation Council, the World Bank, the EBRD, the European Association of Direct Investment and Venture Capital, the International Finance Corporation and venture associations from Europe, Asia and the US.