INT James Jaffe YouTube sharing

I’m the president and chief executive officer

of the National Association of Seed and Venture Funds.

Thank you. So your organization is going to participate in some way

in the EURECA project, I understand. Would you like to comment on that?

Yes. Yes, we’re interested, very much.

In the United States and internationally, we are very concerned

with the issue of bringing together technology and funding.

And part of my interest in being here for the last two days has been to try to show people

what the money side is. We have lots of technologists, and one of the dilemmas

that we see not only in the United States but in Russia is that people who develop things,

develop technologies, are very excited about them,

but they don’t understand how critical it is to find ways to commercialize them.

This has to do with funding in one capacity or another.

So what challenges do you think Russians might face in marketing the results

of their research in Russia and internationally?

One of the things we see in America, and which I think may be true in Russia as well,

is that there need to be ways of training entrepreneurs

in order for them to be the drivers of making the technology into a business.

Technologies just don’t stand on their own. In America, for example,

there are many universities, business schools associated with universities,

that run entrepreneurship programs: take young people, introduce them to ideas,

in some cases actually provide patents from various organizations so the classes

can work on them, and in other cases encourage them to bring their own ideas and,

in parallel, develop business plans surrounding them, marketing plans,

understanding their competition – those all being key issues in this process.

Thank you, thank you so much for your comments, and I hope that cooperation

with EURECA would be successful and something that you would enjoy.

I’m very confident it will. Thank you.

Thank you.