The economics of innovative startups in construction: a methodology for selecting startups to be financed by a corporate venture fund

Abstract

The article addresses the future of the task of developing a diversified innovative economy in Russia by means of drawing the attention of the state (as evidenced by the establishment of numerous funds, accelerators, and business angels), Russian and foreign private investors to the venture business activity. In our country, the venture industry is at its inception, but its core players are already in place: they are Russian and foreign venture capital funds, associations of business angels, corporate venture funds, public-private venture funds and the “fund of funds” (the Russian venture company). The intensity of the venture capital investment activity is low, and there is no state support system available. Financial transformations can decelerate the slow formation of the venture industry if there is no awareness of the importance of this activity for the development of the economy of the Russian Federation. At the same time, the availability of a significant amount of innovative research, needed for commercialization, creates the need for venture financing and the future change of the venture industry. Highquality management of venture investments can be implemented within the framework of a consolidated method: investment; control; formation and increase of importance for owners, institutional investors and society. At the same time, the examination of the investments, that have already been made, contributes to the development of certain knowledge, skills, avoidance of fatal mistakes in the selection of projects, conclusion of agreements and management of companies. The conference speakers addressed the most relevant issues of construction cost examinations which are essential when the cadastral value of real estate facilities is contested in court and when causes, conditions, circumstances and the mechanism of accidents, failures, and casualties in the course of construction and operation of construction facilities are identified. Hence, the most relevant problems of forensic structural engineering and construction cost examinations were considered, and the most effective solutions were developed.

Keywords

• digital innovative solutions
• venture business
• innovative developments
• investment management