One small step for NASDAQ, one giant leap for Russian technology companies.
NASDAQ OMX (NASDAQ:NDAQ) and Moscow Exchange have just signed a deal that brings smiles to the faces of the Russian tech community. A co-operation between the exchanges is exciting news for the Russian technology and biotech sectors. The aim of the agreement is to facilitate access to capital for the explosively growing Russian start-up circles.
The basis of the cooperation is fairly simple at this stage — the two exchanges will jointly organize conferences, workshops and presentations for innovative companies and international investors in Russia and abroad. But the message to Russian startups is clear — the way to NASDAQ begins here at the Moscow Exchange.
Ever since the creation of the “Innovation and Investment Market of Moscow Exchange” in 2009, the word “startup” has been becoming ever more popular in Russian language. As reported by Bloomberg, The World Bank has urged Russian authorities to encourage startups over small and medium sized businesses in order to diversify its heavily commodity export oriented economy.
While most of these startups are targeting the local market, for the simple reason that it is big enough for a fresh business idea, some companies are having renowned international success – such as Kasperky Lab, Parallels and IPG Photonics. The forex industry has its own Russian star player – Metaquotes which has created one of the most widely adopted forex trading platforms – Metatrader.
It remains to be seen whether this step will prove to be an important growth pillar for Russian tech companies and ultimately provide a growing number of opportunities for the venture capital industry. What is certain, is that brave new projects in Russia will now have more access to capital and more potential for global innovation.
To see the press release for the Moscow Exchange – NASDAQ partnership deal click here.
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