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HSCI was Ranked among the Top 10 Russia's Most Innovative Companies under TechUspeh ('Tech Success') Third National Rating

The results of the “TechUspeh” (‘tech success’) third national rating of Russia’s fastest-growing high-technology companies were tallied on October 15, 2014 in Moscow at the “Open Innovations” international forum. A total of 110 companies took part in the rating in 2014, of which 80 successfully passed the qualification criteria.

The Human Stem Cells Institute (HSCI) was included in the TOP-10 innovative companies of the rating in terms of the technological level of its products, their originality, the company’s intellectual property, as well as expenditures on R&D and technological modernization.

The prize ceremony for the rating leaders was held as part of the “Open Innovations” forum at the roundtable entitled “TechUspeh-2014: Barriers and prospects for development of Russian technological companies”. The ceremony was attended by Russian Deputy Prime Minister Arkady Dvorkovich.

For the first time, the “TechUspeh” rating was conducted in 2012 by the Russian Venture Company (RVC) in partnership with the Association of Innovative Regions of Russia (AIRR), PwC and SME Bank. The rating determines the leading fast-growing high-tech companies in Russia which are capable of playing a key role in the future development and modernization of Russian technological industries.

The companies which participated in the “TechUspeh” rating in 2014 demonstrated significant revenue growth compared to the previous year, while maintaining stable investments in technical innovation and R&D. The average value of these companies’ revenue is RUB 1.7 billion per year, while the share of new products accounts for 57% of this revenue. These companies’ share of expenditure on technical innovations is 23%, while R&D spending is 10%.

According to Igor Agamirzyan, CEO of RVC: “The ‘TechUspeh’ rating has become both an effective tool for identifying and promoting successful technological companies in Russia, as well as a source of information about the development of innovation business, current barriers, and business’ demands of the national government. The rating data and the results of expert interviews confirm the thesis of the international competitiveness of Russian high-tech companies - 72% of them export their products to foreign markets. That said the volume of exports isn’t so large yet, averaging a share of total revenue of 13%. Therefore, the program "Globalization of the Russian Innovation Industry" developed by RVC has compiled a number of specific proposals for developing Russian exports. The companies in the rating and the members of the “TechUspeh” club will be able take advantage of these proposals.”

Artur Isaev, General Director of HSCI, thanked the rating organizers, the Association of Innovative Regions of Russia, and personally thanked Ivan Bortnik – who initiated and inspired the contest – for the competition becoming such an important event that not only brings out the real industry leaders and pioneers of technological innovation, but also is an effective element in interaction between these business leaders and the authorities to work on solving the problems of industries and innovation. Mr. Isaev added: “Today in Russia, technological innovations and efficiency are more important than ever. It must be said that there aren’t many real innovations in our country, but they do exist, and a lot depends on the people themselves and on entrepreneurs. The key to change in our country, to our future, is in their hands, in new business sectors. As physicians sometimes like to joke: “If the patient wants to live - medicine is powerless!"

30 October 2014