The Innovation Development Committee, MCAEE prepared Agreement on cooperation between MCAEE and the National community of business angels of Russia (CBAR). The National community of business angels of Russia is the single association of business angels nationwide created with support of the Russian association of venture investment (RAVI) and the Chamber of Commerce and Industry of the Russian Federation in 2006 in the form of a non-commerce partnership.
The SBAR mission: assistance in increase of innovation development of the state and growth of GDP by innovation part. The aim of SBAR: assistance in establishment and development of athe new sphere in the national economy – business angel investment on the basis of creation of favourable conditions for activity of business angels in Russia.
Business angels are investors both legal entities and individuals who invest in innovation companies on early stages of development in amount of no more than $ 1 mln. per one company.
The main aim of business angels is accelerated development, growth of capitalization of invested innovation companies the co-founders of which they are, that`s why it is necessary to create favourable conditions both for business angels themselves (attraction of capital, getting of profit etc. and for innovation companies invested by them (taxation, rent, consulting etc.)
¨ Business angels is the new and single private investment mechanism which allow to provide long-term financing of high-tech companies on the first stage of their development and to settle the contradiction of attraction of finance resources on a long term with high investment risks.
¨ Business angel investment is pre-venture. Business angels stand in the very beginning of the process of commercialization of technologies – the scale and speed of innovation development of Russia will depend on the volume of capital in this sector. The practice witnesses that the enough volume of business angel and venture investment provides increase of the process of creation of new knowledge and technologies, creation of small high-tech companies, transition of qualified staff into innovation sector of the economy.
¨ Business angels and innovation companies are a single whole because business angels, together with the founders of the company, are its shareholders and are inseparable from them. Support of business angels means support of the whole sector of small innovation companies.
¨ Business angels sector is “long and smart” money. Economic motivation of a business angel is to get high profit made thanks to that business angel actively takes part in formation and management of the company, shares his/her management experience, market knowledge, business links and contacts, appears as an expert and a consultant of the created business.
¨ The history of the world economy of the last decades shows that without business angels and venture investment which are new and unique finance mechanisms it would be impossible to form and develop small innovation sector of the global economy that created such giant companies as Intel, Silicon Graphics, Yahoo, Dell Streak, Google.
¨ The number of business angel and venture capital in the state should be balanced. For full self-renewal of the sector of small innovation enterprises for one start-up, financed by venture capital, it should fall on as minimum five pre-venture, business angel investments.
¨ Business angel and venture investment have high risks, long-term character that’s why for transition of capital to this sphere governments of states create preferences, favourable conditions for capital and small companies which work in the innovation sector of the economy.
¨ Business angels implement the important social function – invest in science, scientists, development of intellectual potential of the state.
