Government tech giant teams up with partners to back start-ups

09 July 2019

Rostec, the national umbrella for Russian large- and middle-scale technology companies, has set up a special fund, Industria 4.0, to invest in industrial tech, robotics, artificial intelligence, digital twins, and new materials, the Russian business daily Vedomosti reported, citing a spokesperson for Rostec.

Part of the new $78m fund is expected to come from external investors (corporations, the national development institutions or financial organizations). By the end of this year the government-owned firm wants its fund to have at least $47m.

Industria 4.0 will invest in companies that already have off-the-shelf proprietary technology and have launched first sales. The investees will be expected to introduce their technologies to production processes at Rostec assets, thus stepping up commercialization. The size of an investment will depend on how developed a potential investee is, but no company will receive more than $4.7m. Support will come as a convertible loan or as purchase of an up to 49% stake in a company. At this stage, Rostec wants to invest in 10-15 companies.

Source: http://marchmontnews.com/Finance-Business/Central-regions/22098-Government-tech-giant-teams-up-with-partners-back-start-ups.html
Related news
Rostec, Russian Railways committed to create $100 million venture fund to support IT, IoT projects
Russia creates AI robot to rescue drowning people
Far Eastern fund supports industrial IoT solutions