Post on 03-Feb-2016
description
Ilya PonomarevChairman, Subcommittee on Hi-tech
DevelopmentState Duma – Russia Parliament
Doing Business in Russia – Innovation, Software Development Services and Sales Opportunities Workshop
Boston, April 17th, 2008
Deficit of serial entrepreneurs No tradition No education
Complex tax system (some 51 taxes)
IP rights: Bureaucratic burdens for new
patents Gap between R&D institutions and
business Uneven business infrastructure Russian business environment still
separated from the rest of the world: Lack of international investors Incompatible legal system Limited international expertise,
language barrier Russia’s image is associated with
high risks
How we can distinguish hi-tech business?
What are marketing priorities: overseas markets, local companies, state institutions?
Where new businesses will be born: R&D institutions, large businesses, small business, international corporations?
Is there anything government could do: in legislation or at agencies level?
Wide choice of unmarketed technologies
Highly educated specialists, especially in math & CS, physics, chemistry, biology
Huge state financial resources (600+ bln. USD): Public institutions need IT
services New infrastructure is being
build (telecom, hi-tech parks, …)
Investment bodies are being created: Rosnanotech ($10 bln.), Rosinfocominvest ($100 mln.), Russian Venture Corp. ($1 bln.), …
Building new economy was declared #1 priority by acting President and President-elect
•Support of particular projects in prioritized technological areas (like Rosnanotech for nanotechnologies)
•Seed investments and R&D funding (Bortnik Fund)
•Creation of business environment for new enterprises (start-ups, spin-offs)
•Closing gap between education, science and business
•Equity investments in start-ups and growing companies (Rosinfocominvest)
•Support for traditional R&D centers (Science Cities Task Force)
•Multilateral R&D funding without specific objectives (Russian Fund for Fundamental Research)
•Development of new technologies for possible future use (Russian Academy of Sciences)
•Tax and customs vacations in Special Economic Zones
•Support of regional VC funds through Russian Venture Corp.
Seed investments and R&D projects financing
Support of major R&D centers
Hi-Tech Parks, equity investments
Special Economic Zones, support of VC funds
11 22 33 44
Ministry of Science and EducationMinistry of IT & TelecomMinistry of Economy
RESEARCH & DEVELOPMENT COMMERCIALIZATION PRODUCTION
Initiated by President Putin in 2005 Federal Task Force established in
2006 Construction began in 2007 To be completed in 2010 $1,1 bln. of public funds est. $7 bln. of private funds Each hi-tech park is approx.:
40 to 100 hectares of land 100000-200000 sq.m of office
space 250000-350000 sq.m of
resident spaceplus Production facilities Social infrastructureand a major education or R&D
center Project is now open for estate
developers and resident companies
7
8
Office premises Class A-, B+ Differential rent price Conventional office services (call-center,
reception, conference rooms, …) Telecommunication and data services
Laboratories and production facilities Shared equipment Warehouses and logistics with dedicated
customs office Legal services
Patent attorney Financial services (banks and funds) Mortgage program for resident
companies Integration with educational institutions Social programs
Medical insurance Sports Leisure centers
Security
Publicly develop and submit into the Parliament a set of laws – the Innovation Code
Self-governing bodies to acknowledge hi-tech companies
Special tax regime for hi-tech companies
Eligible companies do not pay any taxes (incl. income, VAT, social, property), except one – revenue tax (6%) With a social benefits vacation
amendment – 3% To become eligible, according to
initial draft of the law, company should file an application for Ministry of IT and Telecom Should be changed in favor of
accredited self-governed NGOs First reading passed during Fall
2007 Second reading expected in
Spring 2008 Unresolved issue of VAT returns
Publicly develop and submit into the Parliament a set of laws – the Innovation Code
Self-governing bodies to acknowledge hi-tech companies
Special tax regime for hi-tech companies IP rights reform:
Establishment of National Data Bank of Ideas and Technologies
Alternative way to secure IP rights, based on open license
Development of open-source software for state institutions, incl. national OS
Attempt to create a contemporary legislation, suitable for information era: No legacy – we can experiment Already passed legislation is very
advanced – we provide an alternative for innovators
Current IP rights legislation protects products – we focus on services
Utilize potential of an open license (GNU-like)
Set of laws: Amendments to current IP rights law
(Chapter IV of Civil Code) Establishment of National Data Bank of
Ideas and Technologies – will create secondary market of technologies and open state R&D institutions for market opportunities
Development of open-source software for state institutions, incl. national OS – will create a competitive market for software developers and put public funds to help the industry to grow
Publicly develop and submit into the Parliament a set of laws – Innovation Code
Self-governing bodies to acknowledge hi-tech companies
Special tax regime for hi-tech companies IP rights reform:
Establishment of National Data Bank of Ideas and Technologies
Alternative way to secure IP rights, based on open license
Development of open-source software for state institutions, incl. national OS
Venture capital law
Current legislation is very untraditional - VCs are recognized as mutual funds and regulated by FSFR (Russian counterpart of SEC): Excessive reporting unsuitable
for VC Licensing required Capital commitments are not
recognized Stock options are virtually
impossible Proposed changes:
Legalizing Limited Partnership as a separate legal form
Regulate rights of LPs and GPs Amend the JSC law to have all set
of tools – stock options, different shares, …
Publicly develop and submit into the Parliament a set of laws – the Innovation Code
Self-governing bodies to acknowledge hi-tech companies
Special tax regime for hi-tech companies IP rights reform:
Establishment of National Data Bank of Ideas and Technologies
Alternative way to secure IP rights, based on open license
Development of open-source software for state institutions, incl. national OS
Venture capital law Hi-Tech Parks law Legislation of electronic
documents and transactions: e-Document e-Commerce e-Government
Russia recognizes electronic signatures, but does not recognize electronic documents Recently Duma has to pass a
special regulation to allow e-tickets
e-Document law is a foundation for paperless workflow in the
government for e-commerce for Internet voting for other services conducted
through the Internet and e-government
Publicly develop and submit into the Parliament a set of laws – the Innovation Code
Self-governing bodies to acknowledge hi-tech companies
Special tax regime for hi-tech companies IP rights reform:
Establishment of National Data Bank of Ideas and Technologies
Alternative way to secure IP rights, based on open license
Development of open-source software for state institutions, incl. national OS
Venture capital law Hi-Tech Parks law Legislation of electronic documents and
transactions: e-Document e-Commerce e-Government Etc.
Single strategy at executive level – national Go.In.Ru initiative
Rethinking of GOELRO program of 1920-s – foundation of the national industrialization program
Set of state initiative targeted to support hi-tech industry through funding national-scale projects: Computers in every school –
done Internet in every village –
in progress Digital TV – in progress Supercomputing grid spread
from EC to China and Japan Space programs Fusion development National OS e-Government applications Radio frequencies conversion
Publicly develop and submit into the Parliament a set of laws – the Innovation Code
Self-governing bodies to acknowledge hi-tech companies
Special tax regime for hi-tech companies IP rights reform:
Establishment of National Data Bank of Ideas and Technologies
Alternative way to secure IP rights, based on open license
Development of open-source software for state institutions, incl. national OS
Venture capital law Hi-Tech Parks law Legislation of electronic documents and
transactions: e-Document e-Commerce e-Government
Etc. Single strategy at executive level – national
Go.In.Ru initiative
QUESTIONS?