By Andrey Anufriev
The possibility of establishing a Chinese-Belarusian venture fund was recently discussed by the Chairman of the State Committee on Science and Technologies, Igor Voitov, and the Vice President of China CAMC Engineering Co., Ltd. (CAMCE), Wang Yuhang.
According to Mr. Voitov, interaction between Belarus and China in science and technology has already proven fruitful, with major scientific and technical co-operative agreements signed. These constitute the legal foundation for contacts between the R&D organisations of our two states. Moreover, our bilateral commissions on sci-tech co-operation have also proven efficient, as has the Commission for High Technologies, set up in 2012. However, Mr. Voitov stresses that innovations require adequate financial support, so a variety of funding mechanisms need to be explored, including venture financing.
Mr. Yuhang emphasised his faith in Belarus’ great scientific potential and highly skilled staff, particularly in the fields of IT, medicine and biotechnology. “They are your main assets: an advantage you should further develop,” he added. “We’re ready to provide certain benefits and financial support to Belarus, via the Chinese-Belarusian Industrial Park, while also helping you attract highly skilled professionals from around the world.”
According to the Director of the Belarusian Innovation Fund, Alexander Shumilin, his organisation plans to finance the production of new high-tech goods. “We finance innovative projects, and those related to the manufacture of high-tech products. We also want to launch a venture financing mechanism through the Belarusian Fund,” he explains. About 100 projects have already been implemented in medicine and healthcare, environmental protection, the efficient use of energy, microelectronics, and instrument and machine building. Horizont JSC is producing household appliances via the joint project while ZTE Corporation is considering opening a centre to monitor public safety.
A tripartite agreement on co-operation is soon to be signed, while proposals regarding several bilateral projects are being considered.
