Vnesheconombank and TUS-Holdings will cooperate to advance Chinese and Russian innovative and high technology companies
Vnesheconombank and TUS-Holdings Co. Ltd. (TUS-Holdings) signed a Memorandum of Understanding with a view to formalize the framework of cooperation to advance Chinese and Russian innovative and high technology companies to respective markets of Russia and China. To reach this objective the MoU provides for various mechanisms including creation of joint science and technology centers, investment platforms, implementing co-investments in projects of mutual priority as well as other forms of cooperation in the area of private equity.
The MoU was signed by Senior Vice President of Vnesheconombank Daniil Algulyan and the Chairman of TUS-Holdings WANG Jiwu on the sidelines of the St. Petersburgh International Economic Forum – 2018.
“Signing of this Memorandum is an important step in the development of cooperation with the leading multipurpose Chinese holding company with a vast experience in the field of incubation and commercialization of technological solutions as well as operation and management of industrial parks,” said Daniil Algulyan. “This partnership offers new opportunities for supporting Russian companies exit on the Chinese market.”
As Mr. WANG Jiwu, Chairman of TUS-Holdings noted: "The signing of the MoU between VEB & TUS-Holdings is a remarkable contribution to the development of mechanisms supporting innovative and high technology companies in China and Russia which will thereby facilitate the economic growth of the two countries. Under the current international situation, the close integration of high-tech companies in China and Russia has long-term strategic significance; The extensive and in-depth cooperation between TUS-Holdings and VEB has established a platform and conditions for this integration. It is hoped that the politicians and the entrepreneurs from both countries will pay more attention to the cooperation between TUS and VEB because this cooperation is not about the two companies themselves."
TUS-Holdings Co. Ltd. (TUS-Holdings) is a holding company specializing in innovations. Incorporated under the laws of the People’s Republic of China. Participates in equity of over 800 companies; over 300 business incubators under management. Established in 2000 on the base of TUS Park, which is a leading center of innovations and new technology development. TUS Park was founded by the graduates of Tsinghua University and is the largest university science park in the world. TUS Park location in Beijing hosts 1500 companies. Total assets under management amount to 200 bn RMB (~31 bn USD).
Industry expertise in real time: Vnesheconombank presents an updated version of the Expert Me platform
Vnesheconombank has presented an updated version of the Expert Me platform at the 2018 St. Petersburg International Economic Forum. The platform offers quick access to premium industry expertise from the best subject matter experts. "For VEB, as an institution for development, it is vital to create new growth opportunities for high-tech businesses, while maximising the support for promoting a new, innovative economy. Investment project initiators and mature businesses can access the expert platform to obtain an assessment from industry leaders and first-rate experts within days, and occasionally within hours. How fast a project – particularly a high-tech project – can be adjusted is critical for its success in today's fast-paced world. Through this expert platform, businesses that promote Russia's new economy will be able to tap into emerging growth opportunities," says Dmitriy Ivanchenko, Vnesheconombank's Senior Vice President and Head of Expert Analytics.
Through the Expert Me platform VEB is addressing one of its key objectives as an institution for development – to set up an environment for enhanced management decision-making. "The future of a digital economy belongs to platform-based solutions. VEB's expert platform addresses on of the key challenges of today's business – tapping into unlimited intellectual resources. The platform bridges the gap between decision makers and subject matter experts. We are committed to fully digitalise all processes within Expert Me before the end of this year," notes Dmitrii Ivanchenko.
VEB itself also makes active use of Expert Me processes. For instance, in sophisticated investment projects, the Bank engages a team of experts to provide a cross-functional assessment and test potential scenarios. "Today, any manager needs such a platform, an assistant who can provide an answer to any question, including over the phone. Our short-term plans include offering expert services in CIS countries, in the global market, and to foreign companies that are considering expansion to the Russian market. We are also planning to design digital solutions for faster and simpler project execution through the platform," said Ilya Bindyuk, Expert Me's CEO.
The platform's clients include major banks, consulting companies, industrial leaders, and small- and medium-size businesses.
Expert Me is a platform that enables efficient interaction between businesses and experts across a range of industries. Its customers range from private companies and entrepreneurs to government entities. Currently, the platform already counts more than five thousand highly skilled professionals, with over 500 projects already successfully completed. A scale-up and further digitalisation of the platform are planned for 2018.