Skolkovo presents the development and difficulties of its biomed startups

At the moment, there are more than 3,000 startups in Skolkovo, 700 of them in the environmental and medical industries. In the next 3-5 years, startups and the industry will focus on import substitution, reverse engineering and rebuilding disrupted logistics chains, and in the next 5-7 years, on creating technological foundations that will help ensure leadership in the future. This was told by Kirill Kayem, Vice President for Innovation of the Skolkovo Foundation, at the session “Entrepreneurship in Healthcare in the Era of Change”, held as part of the 25th St. Petersburg International Economic Forum.

He noted that by 2030 the number of startups supported by the Foundation should grow to 7000. According to Kirill Kayem, biomed startups are now experiencing serious difficulties associated with disruption of supply chains and difficulties in production, including access to money.

“The biomed industry is going to be affected by the current problems most acutely, because its commercialization model is closest to the net capitalization based on intellectual property or on the set of competencies of its employees. This industry has some of the highest investment risks and the longest investment cycles,” the fund’s press service quotes Kayem as saying.

In addition, Kirill Kayem stressed that biotech startups were aimed at the global market in order to recoup the long-term risky investments.

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