Concept Of Russian Far Eastern Venture Fund To Be Ready In 1 Month - Deputy Prime Minister

The concept of Russia's Far Eastern venture fund will be revealed in a month, Deputy Prime Minister and Presidential Envoy to the Far East Yury Trutnev said on Friday

VLADIVOSTOK (UrduPoint News / Sputnik - 06th September, 2019) The concept of Russia's Far Eastern venture fund will be revealed in a month, Deputy Prime Minister and Presidential Envoy to the Far East Yury Trutnev said on Friday.

Russian President Vladimir Putin has offered to create a special venture fund in the Russian Far East for supporting start-ups, at a plenary session of the Eastern Economic Forum (EEF). He has added that agency could be funded through the Far East Development Fund.

"I am sure we need a venture fund.

But we need to work many things out, not only the source of investment ... but the logic of fund operation as well. We need a venture fund that will be efficient ... We'll be thinking quickly. We need this. We'll present the concept in a month," Trutnev said at the final press conference of the EEF.

Russia's Far Eastern city of Vladivostok is hosting the fifth edition of the EEF from September 4-6. The Rossiya Segodnya International Information Agency is an official media partner of the event.