hollywoodtone.blogspot.com International foundations unite experts
hollywoodtone.blogspot.com International foundations unite experts
Having access to the markets and networks can make the difference between success and failure. In high-risk fields, expertise and capital is increasingly being provided overseas.
Now, more than any time in history, business is international says Alexei Beltyukov, Vice President of Skolkovo Foundation. Even a local enterprise has access to the products, services and expertise of international firms. Commerce has no boundaries and neither does access to financial capital. It is, therefore, not surprising that a growing number of high tech foundations are becoming global. Adversaries of the past are increasingly becoming partners in future plans for many U.S. firms and research facilities. With the increasing cost and complexity of bringing high tech products to market, the search for start-up and operational funding has gone worldwide. Alexei Beltyukov is a product of that new reality and one of the growing players on the international scene. Cooperation Heats Up "Proof of the new international reach of the Skolkovo Foundation can be found in its recent agreement with the Massachusetts Institute of Technology (MIT)," says Alexei Beltyukov. In the past, MIT’s efforts would have been focused on providing competing products. Now it has embarked on a new effort of international cooperation with Skoltech, the Skolkovo Institute of Science and Technology. The MIT-Skoltech joint endeavor will provide approved companies with financing and exchange their technical knowledge in higher education, research and innovation. The fit is a natural result of the growth of the Russian Research and Development and Venture Capital industries. National Focus - International Reach The Skolkovo Foundation was created in 2009 with an overarching mission to change the perception of Russia from a mineral-producing country of gas and oil, to one that attracts entrepreneurs and helps businesses export their expertise. Alexei Beltyukov believes the Skolkovo Foundation also benefits from a Russian Government directive to large business to invest 1% of all revenues in research and development and venture capital funding of research. Although the directive is based in Russian national interest, the Skolkovo Foundation has a global reach. Most participants in the Skolkovo foundation reengaged in the fields of biomedicine, energy, IT, nuclear research, space technologies, and wireless communications. Business Development In an average week, the Skolkovo Foundation receives funding requests from more than 40 new applicants worldwide. The foundation supports the financing for research and development and also provides resources and expertise to companies wanting to market in the international arena. The failure rate for many of these companies vying for funds is high due to the technical and fiscal requirements of developing a product to compete in the international marketplace. “For those accepted into the Skolkovo project,” Alexei Beltyukov said. “The obstacles are easier to recognize and overcome.” International Foundations Flourish The Russian government is not the only body to promote research and development and venture capital opportunities with foundations. The Japan International Medical Technology Foundation, The Qatar Foundation, and Canada Foundation for Innovation are just some of institutions supported by government funding. These new foundations join established industry leaders such as the Rockefeller Foundation in providing financing and technical expertise to new ventures. Receiving money from ventures is a complex and time consuming process, but to those who are accepted the benefits are incalculable. Besides the financial resources, recipients also are guided to their goals with technical and marketing advice from international experts like Alexei Beltyukov. The demand for bio-medicine or high tech communications is global. Having access to the markets and networks can make the difference between success and failure. In high-risk fields, expertise and capital is increasingly being provided overseas. With major U.S. institutions like MIT leading the way the potential for international cooperation has never been greater. Thanks to foundations like these advances in medicine or communication will no longer have a national border. Alexei Beltyukov believes with the promise of the combined international talents, consumers and society may soon benefit from their efforts.
hollywoodtone.blogspot.com International foundations unite experts