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Development and scaling of Russian digital products was discussed at the Russian Investment Forum in Sochi


The annual Russian Investment Forum in Sochi has just come to a close. It bring together representatives from federal and regional authorities, leading economists and entrepreneurs and heads of major domestic and foreign companies. At the event expo ITPS presented their own developments at the forum.

This year, one of the key areas at the Russian Investment Forum examined  national projects and effective economic solutions focused on transforming countrywide strategies into actions. Government and business representatives demonstrated their capabilities and prowess within priority sectors of the economy, IT and roll-out of nationwide projects. In addition, issues surrounding demographic development, public health and boosting national living standards were also touched upon.

Prime Minister of the Russian Federation Dmitry Medvedev, who took part in the Russian Investment Forum, noted in his message: “We need to create a standardized scientific and methodological base. It is about creating a new science actually – a crosscutting knowledge sector, which includes law, economics, and mathematical sciences. Nobody has dealt with it systematically in our country, we’re still grounded in the  previous century realities of control, whereby numerous inspectors monitor compliance  of outdated and redundant requirements that don’t even cover risk, injury or mortality-rate reduction, amongst others. This situation needs to be reversed in the near future”.

At the “Digital Transformation and Quality of Life from a Regional Perspective” panel session, experts recognized that the country is actively working on implementation of the national “Digital Economy” program, principally targeted not only to the formation of a digital ecosystem, but also to reconstruction of business processes in all areas of social and economic activity. The Governor of the Perm Territory, Maksim Reshetnikov, in his speech noted that once seemingly-impossible goals are now within reach,  providing one knows how to achieve them. To do it, you need to take ready-made digital solutions and transform them to fit your needs. Thus, within the framework of the Russian Investment Forum-2019 (RIF) in Sochi, one of the 12 agreements signed at  the Perm Territory stand was an agreement on cooperation between the Perm Territory Government and the Government of the Sakha Republic (Yakutia) in the area of ​​innovations support and digital development.

Another important issue on the RIF-2019 agenda was Russian digital technologies and strengthening the demand for domestic IT products. One of the investment projects by ITPS – BioT, an integrated ‘Biotelemetry’ solution for effective management of occupational and industrial safety processes, attracted significant interest amongst forum participants. Another ITPS solution presented at the exhibition was ‘AVIST. Operation’, designed to monitor and manage events in real time. The module allows for the minimizing of response-time to emergency events and a reduction in the likelihood of emergency situations. Company experts presented case studies on implementation of ITPS digital solutions in the field of digital transformation of enterprises to forum participants, and also held a series of productive negotiations with business representatives as well as with regional head and line ministry representatives.

“Import substitution in the field of information technologies is a very real process, which is now going on in various state and business corporations. However, for example, our goal isn’t simply to replace Western solutions with domestic innovations that we then seek to market to customers. Today what is more important for us, is to ensure an increase in economic efficiency for every customer. The digital transformation of companies is a real process, gaining momentum that is used not only to automate core business processes and digitalize key indicators, but it can also contribute to the transformation of business models and enhancement of value chains. This is one of the crucial areas promoting  a new technological breakthrough within the economy”, ITPS CEO, Leonid Tikhomirov commented, in summing up the benefits of his company’s solution.

468 (in comparison to 308 the previous year)  Russian company heads took part in the Russian Investment Forum 2019, 17 of whom are listed in  Forbes’ 200 “Richest People in the World” list. From RBK’s TOP 500 Largest Russian Companies, 75 companies took part (in comparison to 55 the previous). The Forum was also attended by the heads of 19 state diplomatic corps. During the Forum 2019, 567 agreements and letters of intent were signed totaling 968.033 billion rubles. The growth in the number of Forum participants was 30% compared with 2018. The total number of Forum participants in all categories (including exhibitors and media representatives) equated to more than 8,000 delegates from more than 65 countries. The largest delegations (officials and business representatives) came from countries such as the USA (115), Switzerland (49), Great Britain (38), France (36), Germany (35), Italy (25), China (25 ), the Netherlands (20) and Japan (16).