Euroinvest Takes a Course on Innovation Development
Various scientific startups are being implemented in St. Petersburg with the support of the Euroinvest Fund, a subsidiary of the company.
The investment company Euroinvest is primarily known on the banks of the Neva for its development projects. For more than twenty years, it has been successfully selling housing in St. Petersburg and the Leningrad region. However, the company’s investment interests are not limited to the construction sector.
One of the areas that Euroinvest is actively developing today is the support of innovative developments. The company has already created the first unique devices, which may soon go into serial production.
At the end of 2022, Switzerland was once again ranked first in the Global Innovation Index. For many years, this country has been among the world leaders in innovation. It was in Switzerland that many inventions were created, which are now used by the whole world. Of course, Russia cannot yet boast of such successes.
Domestic business is currently making only its first steps on the path of innovation. All the more valuable is the fact that in our country there are also companies that are ready to support high-tech developments.
Swiss Inventions that Changed the World
- The Swiss knife. It was invented in 1891 by Carl Elsener, a manufacturer of surgical instruments and equipment.
- Cellophane. This unique material was invented in the early 20th century by Swiss engineer Jacques Edwin Brandenberg.
- Velcro. Engineer Georges de Mestral came up with the idea of a clasp that worked like a burdock after he had to peel a dog’s thorns.
- The electric toothbrush. The author of this useful invention is Dr. Philippe-Guy Vaug, it was he who came up with the idea of equipping the toothbrush with a motor.
- World Wide Web. The technical basis of the project, now known as the World Wide Web, was developed in 1989 by Tim Berners Lee.
One of them is the St. Petersburg company Euroinvest. It became interested in the sphere of venture investments not so long ago. In 2017, the company’s founders, Andrey Berezin, and Yury Vasilyev established the Euro Venture fund. Its start-up capital was 10 million euros, and the main focus of investment is innovative developments in science and technology, as well as projects in the creative industry.
Start-ups that have a high potential of reaching the global level are the first to receive increased attention and support from the fund. And although five years is an extremely short period, especially for venture capital investments, today one can clearly say that the management of Euroinvest has chosen the right direction for the development of their company.
“There is now a fourth industrial revolution taking place in the world. All the old stories, when markets were important, then raw materials, are receding into the background. Now, actually, it’s the brains that matter, and it’s where they are concentrated that there will be a breakthrough. This is what is of value today, it is brains that will become the key competence of any successful project in the foreseeable future, that is why it makes sense to invest in them,” believes the Chairman of the Board of Euroinvest company Andrey Berezin.
A Robot Revolutionizing Lung Cancer Treatment
It is challenging to disagree with the viewpoint of Andrey Berezin, especially when considering the numerous innovative developments supported by the Euro Venture Foundation. Among these, the most promising is the robotic system designed for combatting lung cancer. This groundbreaking device was unveiled to the public in 2020. Its core innovation is the X-ray tube developed by experts from Svetlana-Rentgen JSC.
What sets this complex apart is its capacity to be employed directly during surgical procedures. As the surgeon removes the malignant tumor, the robot can simultaneously administer radiation therapy to adjacent tissues using soft X-rays. Controlled by advanced systems and specialized software, the robot can perform these tasks automatically. Experts believe that this device can significantly enhance the effectiveness of lung cancer treatment, potentially saving thousands of lives in the future.
Furthermore, this robotic complex, crafted by St. Petersburg’s scientists and medical professionals, holds strong potential not only domestically but also on the international stage. On one hand, there is a global demand for post-surgical radiotherapy equipment, with the worldwide market estimated at $3.2 billion. On the other hand, preliminary estimates indicate that the Russian device will be priced at $500,000. While this represents a substantial investment, it is notably three times more cost-effective than its foreign counterparts, making it highly competitive in international markets.
From the Automotive Industry to Agriculture
A robot designed to combat lung cancer is not the sole device developed using the unique X-ray tube technology from Svetlana-Rentgen JSC. Presently, St. Petersburg has seen the creation of an entire lineup of devices, supported by the Euro Venture Fund, which can be efficiently utilized in various sectors, ranging from the automotive industry to agriculture. A few of these devices have already undergone initial testing and have received favorable assessments from industry experts.
One of these developments is a digital radiography installation for seeds, enabling rapid automated diagnostics. Farmers can quickly identify suitable seeds for planting, eliminating those with hidden defects. This application in agriculture has the potential to boost productivity, as fewer defective seeds result in higher crop yields.
The effectiveness of this installation has already been recognized, winning a gold medal at the AGRORUS-2021 exhibition in the category of achievements in agricultural innovation. Another innovation based on the X-ray tube technology is a device for the rapid analysis of breast tissue samples during surgery.
Among other promising developments supported by the Euro Venture Fund is an innovative lithium-ion battery, with its primary application likely to be in the automotive industry. Additionally, there is interest in an installation for heating and repairing road surfaces. Unlike existing alternatives, this installation can heat asphalt to its full depth simultaneously, significantly improving the speed and quality of road construction.
In summary, the experience of Euro Venture offers optimism regarding the prospects for innovation in Russia. The emergence of successful startups in this field could potentially change the perception of venture capital investment within the domestic business community. This, in turn, has the potential to reduce Russia’s technological lag compared to the world’s leading innovative economies.
Dossier: Andrey Berezin
Date of Birth: 1967
Place of Birth: Leningrad
- Graduated from Secondary School 239 with an advanced degree in mathematics
- Attended D.F. Ustinov Leningrad Mechanical Institute
- Received a red diploma in automatic control systems engineering in 1990
- Pursued postgraduate studies at the same institute
- Co-founded the Euroinvest investment company in 1994
- Served as the Chairman of the Board of Euroinvest Investment Company
- Led Euroinvest’s investments in various sectors, including high-tech industry, innovative developments, real estate development, and construction of comfortable housing
- Andrey Berezin’s career reflects a diverse range of investments and contributions to different industries, showcasing his dedication to innovation and development in the fields he engages with.