Deputy Prime Minister Belousov called for the creation of a support system for future “unicorns”
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First Deputy Prime Minister of the Russian Federation Andrei Belousov said that the country needs to create a system for identifying and supporting companies that in the future could become “unicorns” (a startup whose capitalization in a short period of time exceeded $1 billion). According to him, the first steps to support technology startups have already been taken.
“In what environment should “unicorns” grow? What should the ecosystem look like? After all, this is not just a technology startup, but a company that is creating a new market. We need a metric, an identification mechanism, an adequate legal environment and a seamless support system,” said Mr. Belousov during the “Made in Russia” forum (quote from website Russian government).
He recalled that in the summer of 2023, the Russian Federation adopted a law on small technology companies, which should contribute to the emergence of future “unicorns.” In addition, the authorities are now developing a system to support such businesses, the Deputy Prime Minister emphasized. Andrey Belousov stated that this work will continue in the near future.
“Unicorns” are startups whose capitalization is estimated at $1 billion or more. The term emphasizes the exclusivity of such technology companies and was introduced in 2013.
In December 2022 Russia headed a group of countries from which the creators of “unicorns” born in them left. According to experts from the Higher School of Economics, 38 such entrepreneurs left Russia irrevocably, Ukraine – 20, Romania and Iran – 11 each, Poland – 10.
Read more in the article “Kommersant” “Outdoor unicorn hunt”.
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