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Roscongress Foundation, Roskachestvo, and Foundation for Assistance to Small Innovative Enterprises develop new quality standard for innovative projects

16 June 2020
Фонд Росконгресс, Роскачество и Фонд содействия инновациям разработали «Стандарт качества» для инновационных проектов

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.