Belarus to launch venture projects by end of 2010

“We may say that by the end of the year we will start choosing and implementing such projects,” Anatoly Grishanovich said. The Belarus Innovation Fund has got a number of proposals to use the venture financing mechanisms to implement hazardous projects. Such proposals were made by research centers and private companies. So far these proposals deal with the information-communication and medical areas mainly. 

At present experts are finishing the preparation of a package of the documents that should identify all the peculiarities and selection terms of the innovation venture projects. 

The Belarusian side is holding negotiations with the potential investors who are ready to finance the Belarusian venture projects. These are investment funds of the United Arab Emirates, Qatar and the Russian Federation. Belarus is ready to provide benefits to them. 

The first Belarusian venture fair will allow the direct and venture investors, owners and managers of technology innovation companies to establish new contacts with foreign companies, attract additional investments in hazardous projects. The fair is expected to be held in November this year. Such fairs are held all over the world. Taking part in them are managers and partners of big foreign venture funds and direct investments funds, top-managers of investment companies and banks, heads of big financial organizations, directors of stock exchanges. Researchers and representatives of innovation companies will have a chance to implement their projects attracting foreign investments. 

The Belarusian Government has issued the decree that identifies the peculiarities of the venture financing system. In line with the decree, the Belarusian Innovation Fund has been charged to finance venture projects. The decree stipulates the order of creation, activity and tax liabilities of venture organizations.

According to Belarusian portal