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Alexander Shumilin: International experience in developing and stimulating innovative business is important for Belarus

Alexander Shumilin: International experience in developing and stimulating innovative business is important for Belarus

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Alexander Shumilin: International experience in developing and stimulating innovative business is important for Belarus

Belarus is interested in the international experience in the development of innovative infrastructure and innovative entrepreneurship, as well as the search and implementation of new mechanisms to stimulate innovative business. This was announced today at the opening of the seminar "Public-Private Venture Funds to Support Innovative Projects" by the Chairman of the State Committee on Science and Technology of the Republic of Belarus, Alexander Shumilin. Today's event is part of a joint program of the United Nations Economic Commission for Europe and the SCST to improve the capacity of the republic’s governing bodies on the issue of “State scientific, technical and innovative policy and risk”. “This is the second joint event in the last seven months, which is supported by the Government of Sweden,” he stressed.

Alexander Shumilin noted that the inclusion in the legislation on scientific and innovative activities of the right for researchers to risk and to not achieve the result planned in the project for objective reasons, not related to the contractor and the customer, the separation of these risks between the state and business in the early stages of development is an important issue. “It touches on many aspects. In particular, whether we can significantly increase the share of innovative technological startups in the total number of new businesses and increase their survival depends on its decision; whether these companies will remain in Belarus or go abroad. Finally, can we increase the overall funding of science and innovation by increasing the share of business in this process. Successful practices of solving these problems in other countries can give us hints, unsuccessful steps can warn us against ineffective measures,” the SCST Chairman said.

The seminar “Public-Private Venture Funds to Support Innovative Projects” is held as part of the development of a roadmap for Belarus based on international practice. Its organizers are the United Nations Economic Commission for Europe and the State Committee on Science and Technology of the Republic of Belarus with the support of the Embassy of Sweden. The seminar is attended by representatives of government, investors, financial organizations, representatives of private and public innovation companies, potential entrepreneurs, representatives of organizations promoting business development, such as incubators, technology parks, research organizations and universities.