NTI Sovereign Technology Fund (FST NTI)

History

2024

Launch of three new funds worth 18 billion rubles to invest in drones, robots and chips

The Sovereign Technology Fund of the National Technology Initiative (FST NTI) announced the launch of three new sub-funds with a total investment of 18 billion rubles. These funds will be used to develop projects in the field of unmanned aviation, robotics, micro- and radio electronics. This was announced on June 11, 2024 by the Deputy Director General of the NTI Project Support Fund Dionis Gordin.

The new sub-funds will support projects related to artificial intelligence, biotechnology, wireless technology and aerospace. As Dionysus Gordin noted, a significant part of the planned funds is planned to be attracted from partners, but specific companies have not yet been disclosed.

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He stressed that in 2024 FST NTI has already created four sub-funds with the participation of companies such as Transport of the Future, PSB and Technospark. The total amount of obligations of these sub-funds is 6.8 billion rubles, and more than three rubles of private investments are attracted for each ruble of FST NTI.

Gordin said that FST NTI is also negotiating with investment funds from Saudi Arabia, Bahrain and Oman on projects in the field of unmanned aviation, space and new materials. He noted that the fund seeks to cooperate with the BRICS + countries and aims to support projects that can become "unicorns" by 2030.

According to the Deputy Director General, FST NTI has already invested almost 400 million rubles and received about 500 applications for investments. Among the supported projects are the Yakut startup Extra Cinema, which received 100 million rubles for the production of projectors for small settlements, as well as an unspecified project in the field of unmanned aviation. The investment limit in one project is up to 500 million rubles.

Dionysus Gordin stressed that FST NTI selects projects with basic Russian technologies. In cases where localization of components is required, the fund is ready to provide time for their "landing." If the company plans to use foreign technologies, it must be ready to localize production in Russia.^[1]

Signing an agreement on the allocation of 100 million rubles to the Yakut company Extra Cinema

On June 5, 2024, it became known that the ceremony of signing an investment agreement between the Yakut company Extra Cinema and the Fund for Sovereign Technologies of the NTI (FST) took place. 100 million rubles of investments will be directed to expanding the production of film projectors of their own design. The document was signed by Vladimir Kompaneishchikov, head of the FST, and Pyotr Chiryaev, general director of Extra Cinema. The signing ceremony was attended by the Head of the Republic of Sakha (Yakutia) Aysen Nikolaev and Chairman of the Council of the National Technology Initiative Fund Dmitry Peskov. Read more here.

2023: Establishing a company

The NTI Project Support Fund (National Technology Initiative) and Popov Radio Corporation JSC have created the NTI Sovereign Technology Venture Fund (FST NTI). This became known in early April 2023.

According to Vedomosti, citing Dionis Gordin, investor director of the NTI Project Support Fund, his organization has already invested about 1.7 billion rubles in the FST NTI, and the total expected investment in the fund is estimated at 6.4 billion rubles. It is assumed that this will allow until 2029 to support at least 20 NTI projects in the field of unmanned aviation and cargo delivery, micro- and radio electronics, robotics, wireless communications technologies, etc.

The size of investments in the fund is estimated at 6.4 billion rubles, they will be aimed at supporting NTI projects in the field of unmanned aviation and cargo delivery, micro- and radio electronics, robotics, wireless communications technologies

Both projects that have passed through the NTI ecosystem and projects from the market can apply for funding. As Gorin pointed out, if at the moment there are no projects in a number of technologies critical for the FST NTI, the Fund will first invest in "the relocation of engineering and nurture its scientific and technological school on this basis."

By the beginning of April 2023, FST NTI collects a pool of partners in order to expand the amount of funding and the number of possible projects. According to the estimates of Dmitry Kalaev, partner of the IIDF fund, of the total amount, about 10% will go to operating expenses, and investments in one company will amount to 250-300 million rubles.

The first investments from the fund are planned to be made this year. The most priority initiatives will be selected by the managing comrade, approved by the investment committee with the support of the expert bodies of the partnership. The selection will take into account the criteria for compliance with the "sovereignty," that is, the degree of "fatherland" of developments, the publication says.^[2]

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