American investor meets companies of Tomsk


President of the American “5iTech” company Leon Polott, who deals with the problem of commercialization of innovation technologies, will be working in Tomsk for a few days.

Nikolay Badulin, who chairs the Board of Directors of OJSC IMC “FiBr”, was one of the initiators and facilitators of Leon Polott’s visit.

The visit is aimed to acquaint Leon Polott with the innovation business-environment of the Siberian Athens, as Tomsk is often called. Since Mr. Polott is also the managing director of the “Parus 1” venture fund, the sphere of his interests embraces innovation projects and companies.

On December 8 a practical seminar was carried out in the House of Scientists in order to assist residents of the Tomsk Special Economic Zone in promoting their companies at international markets. “What should be done to introduce a company to the international market? On what should one focus attention? Representatives of which countries should one choose as strategic partners? What is unique about Russian developments? And what advantages do Russian developers have over their competitors?” – Leon Polott answered all of these and many other questions during the seminar.

And last Saturday an informal meeting with Leon Polott was organized for representatives of various innovation companies. The meeting was held in Business Center of “FiBr”. It was attended by heads of such companies as “Elecard Devices”, “Sibovar”, “Biomedsib”, “Design Technology Business Incubator of Tomsk Polytechnic University”. The businessmen presented their developments and were consulted by the investor regarding the possible patterns of development for their companies.

The interest of foreign investors in Tomsk innovations suggests the great potential of the Siberian developments. However, Leon Polott notes that innovations in Russia have a disadvantage in that their authors do not know how to determine application of their technology at the western market, and have little understanding of the ways to commercialize their ideas (i.e. to make a technology bring profit). Innovators also have difficulty writing business-plans which would be attractive for an investor, selecting management in the West, and presenting their projects to venture funds. These are the key aspects for scientists and developers in Russia to work on. After all, whatever brilliant Russian developments are, their introduction to the international market greatly depends on how nicely the ideas are “wrapped”.

Leon A. Polott is the founder and President of the commercial innovation company 5iTech, which promotes state-of-the-art high technologies, developed by scientists of the former Soviet Union, at commercial and stock market of the USA.

Leon Polott is the managing director of “Parus”, a venture fund for investment in start-up capital. Appointed by the US Department of Commerce, he serves as a member of the US-Russian Council of High Technology.

For a few decades prior to 5iTech formation Mr. Polott had been practicing law in some of the well-known law offices in California and Ohio. In 1999—2001 he had been chairing the Cleveland Bar Association’s International Law Section.

A representative of the first wave of Russian emigration to the USA, Mr. Polott speaks Russian fluently; he holds a BA degree (with honors in government) from the Oberlin College and a Juris Doctorate from The University of Texas School of Law.

Leon Polott will be working in Tomsk till December 10.


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  • President of the American “5iTech” company Leon Polott, who deals with the problem of commercialization of innovation technologies, will be working in Tomsk for a few days.

       
       
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