APEC PPSTI Concept Note Presentation PPSTI 10 Workshop on high growth innovative firms (HGIFs) acceleration Russia Agenda Item # 9.2.11

-The Issue- Most of these firms face similar growth challenges, such as financial barriers and external environment effects. *High Growth Innovative Firms (HGiFs) are medium-sized firms which have successful experience of previous work in the field of innovation and have demonstrated in the last few years a stable positive dynamics of its development According to research by leading economists, medium-sized High Growth Innovative Firms (HGiFs)* with good growth dynamics play an important role in the modern economy and create more than half of new jobs in developed economies. Recently, APEC economies are paying more attention to the active stimulation of the accelerated development of high growth technology and innovative medium-sized businesses. Serious influence of such companies on the growth and development of the economy is stressed in a number of studies and analytical papers.

- Project Details- Proposed APEC Funding Source: Project Name Workshop on high growth innovative firms (HGIFs) acceleration Proposing Economy Russia Confirmed Co-sponsors TBC Expected Project Duration: June, 2017 – August, 2018 Proposed APEC Funding Source: ASF, Sub-Fund on Innovative Development, Economic Reform and Growth The project encourages members to strengthen support for innovative activities by SMEs as mandated by the APEC Accord on Innovative Development, Economic Reform and Growth

-Objectives- Share experience and best practices on acceleration of HGiF with a view to their dissemination in Asia-Pacific, in particular among developing economies Analyze APEC economies HGiF support programs Elaborate recommendations on promotion of HGiF activity in APEC economies Prepare proposals on development of APEC economies cooperation in implementation of HGiF support programs The results of the project will improve competitiveness of private innovative companies and scale their activity in the global market. The project is particularly important for developing economies. It can help them create medium and large innovative companies that will be important players in world markets. The more such companies emerge, the more sustainable the growth of developing economies will be.

-Ties to APEC/PPSTI Priorities- Ties to APEC Priorities The project encourages members to strengthen support for innovative activities by SMEs, and support the establishment of an APEC SMEs database on innovative best practices (APEC Accord on Innovative Development, Economic Reform and Growth, paragraph # 19) Ties to Vietnam Host Priorities The project addresses HGiFs are innovative MSMEs that seek to strengthen their competitiveness (Strengthening MSMEs’ Competitiveness and Innovation in the Digital Age by Promoting Start ups and Innovative MSMEs) Ties to PPSTI 2017 Priorities This project will directly correspond with the second PPSTI priority in 2017 by boosting S&T entrepreneurship and thus Supporting strong STI ecosystems in the APEC region No more than two examples per section.

Organizing the workshop in Russia -Timeline- May-June 2017 October 2017 May 2018 August 2018 Presenting the workshop outcomes and disseminating them among relevant stakeholders in APEC economies Project Proposal stage and preparation for the workshop Discussing the CN at the PPSTI 10 meeting and submitting it submission for 2nd Project Session 2017 Organizing the workshop in Russia

-Contacts- Department for Strategic Development and Innovations, Ministry of Economic Development of the Russian Federation PonomarenkoNV@economy.gov.ru National Research University Higher School of Economics a.stepanov@hse.ru No more than two examples per section.