The first venture projects are determined in Belarus

The State Science and Technology Committee (SSTC) jointly with interested government agencies and departments determined the first projects to be implemented in Belarus with the use of venture funding mechanisms. This was announced on 25 January at a press conference by the chairman of the Committee Igor Voitov.

One of them will be the development of the production of household appliances on the basis of holding company "Horizont" with the participation of Chinese companies. "Venture capital money are allocated for this project, it passed the examination and its financing is to begin soon," - he said.

Another venture project, which examination is almost completed, involves the creation of the production of new pharmaceuticals in the enterprise "Interkaps". Technologies related to electromagnetic effects on living creatures and metal are also considered as a priority direction, where is possible to make venture capital projects. In addition, the possibility of attracting venture funding in the development of a production scanning equipment in Belarus is being discussed.

Igor Voitov also recalled that the company "Atlant-M" proposed the establishment of the first private venture capital fund in Belarus. "This fund is to attract about $ 50 million in venture capital projects and now we are dicsussing such projects," - he added.

Head of SSTC noted that if the venture project will not take place, the legislation provides the return of venture funds. "We will discuss how to shift this law, but at the moment venture projects will be implemented under such conditions," - he said.

Establishment of venture funding in Belarus will provide additional impetus to the implementation of risky projects in the country associated with the research, development and manufacture of new types of high-tech products. Now many scientists, knowing that their projects are risky and success is uncertain, refuse to implement promising scientific ideas. At the same time, international experience shows that if one of ten of these projects will be successful, it can cover the losses of others.

According to