A new quality standard for
small and medium-sized enterprises focusing on innovation has been developed.
The initiative was the result of a collaboration between Business
Priority (a strategic project by the Roscongress Foundation), the
Foundation for Assistance to Small Innovative Enterprises, and the Russian
Quality System (Roskachestvo). The standard uses 27 criteria to measure a
project’s potential under four main categories: «development concept»,
«product», «team», and «partners, resources, and environment». The development
of such an initiative has proved to be very timely indeed. Startups have
traditionally had to manage a high degree of uncertainty when it comes to
realizing their potential. This situation has recently been compounded by new
challenges facing the Russian and global economies. Now, there are additional
risks connected to market forecasts pertaining to the introduction of
innovative products.
The new standard is called
Business Priority. This is in recognition of the substantial endeavours already
made by the Roscongress Foundation to promote innovative Russian-made products
and technologies, both at its main economic forums, and in its role as a
business accelerator.
«Business Priority has
attracted innovative companies from all over Russia which offer solutions
across a whole range of industries. Since the project was first launched,
hundreds of startups have undergone analysis. As a result, the Roscongress
Foundation has amassed a great deal of expertise. At the same time, it is important
that we have partners such as the Foundation for Assistance to Small Innovative
Enterprises and Roskachestvo. By working together, we have been able to develop
a truly groundbreaking solution to help Russian companies — and the country as
a whole — further develop their tech potential,» said Chief Executive Officer
of the Roscongress Foundation Alexander Stuglev.
«For young organizations looking to gain a
foothold on the market, the opportunity to have an objective assessment of
their efficiency can be critical. Roskachestvo’s experience of evaluating the
quality of an organization’s processes goes back a long way and covers the
entire country. Time and again, we have received the same simple request from
companies working in high-tech and innovation: what can be done to properly
assess a business model, identify potential risks and weaknesses, and locate
points of growth? This new standard will now serve as a guide for these
companies and will help them properly build a management and production system,
reduce costs, and greatly improve their efficiency,» said Head of Roskachestvo
Maxim Protasov.
«Young, high tech companies
relying on venture investment are in need of clear and effective assessment
criteria like no other sector. The Business Priority standard will allow
investors to determine the potential of a specific project to the highest
degree of accuracy. In turn, they will be able to make balanced decisions. This
is absolutely crucial at this moment in time, with the economic landscape
undergoing rapid and unpredictable changes, and markets experiencing
unprecedented shocks. Startups which genuinely offer potential will be able to
reap tangible benefits — this new quality standard will help to significantly
reduce the process of moving from the idea phase to production,» said Director
of Business Priority Marianna Skragan.
Among other things, the
assessment procedure looks at the whether a company’s personnel will be able to
scale up their project without there being a negative impact on efficiency, and
whether a company has a strategy in place for protecting their intellectual
property. Indeed, the new Business Priority standard takes into account all
aspects of an innovative company, and enables it to unify its approach to
selecting and increasing the effectiveness of investments.
A Business Priority assessment
will be of benefit to companies at all stages of development. It will enable
them to make adjustments to their performance benchmarks, identify their
biggest vulnerabilities, and locate potential points of growth.
The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.
The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.
Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.
The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 173 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 78 countries worldwide, and 179 Russian public organizations, federal and legislative agencies, and federal subjects.
The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, and Spanish t.me/RoscongressEsp. Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.