OREANDA-NEWS  A new startup support tool has been launched in Russia - university venture funds, their total funding will amount to 3.5 billion rubles, Deputy Prime Minister Dmitry Chernyshenko said through the press service of the Ministry of Education and Science.

"It is important that the student startup has a clear track for further development. To do this, a new tool was launched - University venture funds with a total investment of 3.5 billion rubles," he said.

He added that the list of competencies of fund investors includes robotics, microelectronics, biotechnology, medicine, artificial intelligence and other areas.

Valery Falkov, the head of the Ministry of Education and Science, clarified that so far five university venture funds have been created.

The Fund for Infrastructure and Educational Programs (FIOP) and leading Russian investment companies working in the field of high technologies are implementing the project, the ministry said. The partners of the FIOP are the Voskhod Venture Fund, Sitronics Group, the non-profit organization Investment and Venture Fund of the Republic of Tatarstan, Rusbitech-Astra LLC (part of Astra Group PJSC) and the Kama Flow investment company.