MOSCOW, Oct. 27, 2014 /PRNewswire/ — The results of the Third national rating of Russian high-growth companies «TechUp» were announced at the Moscow international forum «Open innovations».

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«TechUp» was organized by the RVC in partnership with the Association of Innovative Regions of Russia (AIRR), PwC and SME Bank. The rating determines the leaders among the fastest-growing high-tech companies in Russia, which have the potential to play a key role in the development and modernization of the Russian technological industries.

Compared with the previous year the «TechUp-2014» companies demonstrated significant revenue growth, consistently maintaining the proportion of expenditure on technological innovation and research and development:

  • The total revenue of the companies rated is 83.4 billion rubles this year, which is 16% higher than the previous year
  • The average revenue of «TechUp» participants is 1.7 billion rubles with the share of new products accounts for 57% of revenue
  • The share of expenditure on technological innovation is 23% and 10% on R&D expenses

The results demonstrate that fast-growing, medium-sized technology companies today have reached a significant milestone in their development and are already a key factor influencing the economic development of the country. However, there is a need to improve public policy focused on turning these companies into national champions.

An analysis of the companies rated by «TechUp» shows a clear picture of the indicators of development in this sector. It is hoped that this will increase the efficiency of state support, helping to solve urgent issues in the development of market demand and access to global markets, and to highlight opportunities for investment in the coming years.

This year 110 Russian companies applied for participation in the rating, 80 of which were selected according to the eligibility criteria. 36% of the companies rated by «TechUp» 2014 work in the field of engineering, instrumentation and electrical engineering; 20% the field of information and communication technologies; 16% the area of pharmaceuticals and medical equipment; 12% work in construction and materials; 8% in the field of chemistry and ecology and 8% were from the energy sector and the oil and gas industry.

The results of rating «TechUp» 2014

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