The head of the RAEC announced the need to create IIDF-2

“Now we have no emerging companies,” the expert told the TASS news agency.

According to him, there are “startups within corporations,” but they all solve the problems of a specific business. But there are simply no startups that offer original solutions. It is necessary to “focus on new projects and not create domestic analogues of Windows and Word,” Grebennikov believes.

“We need to look at the market differently, we need to look at what is in China, South Korea, Japan, the United States, Germany, France and other countries. Even if they are not friendly, but the technologies are created there, let’s analyze this too and create something interesting that is being created in the market,” he says.

The emergence of a new Internet Initiatives Development Fund (IIDF-2) can help in this. Grebennikov is sure that the first IIDF brought enormous benefits and the second will be able to repeat the success, slightly changing the emphasis. With the support of authorities and companies, the fund will be able to “create a new infrastructure for the development of the startup movement in Russia.”

In particular, the structure will stimulate investment in “something completely new that will change the world”: “we need to invest money in it, gradually increase the audience, gradually increase profits, opportunities within these projects, and then we will be number one in the world”