Page 6 - bne_Tech_10_2018

Top Stories
October 2018 www.intellinews.com I Page 6
older generations of Romanians include robotic process automation (RPA) software company UiPath, which raised $225 million in its latest series C funding in mid September, taking
its valuation to $3bn. Bitdefender is another
example of a company founded by Romanians that has achieved international success, but there are also strong examples across the IT hardware and game development segments among others.
Russia's Digital Economy roadmap estimated cost jumps 66%
The cost of the government's Digital Economy roadmap is now estimated at RUB2 trillion ($30bn), Vedomosti daily and Interfax reported
on September 18 citing estimates Minister of Digital Development and Mass Communications Konstantin Nosov made for the cabinet's meeting on national strategic projects.
Following the Kremlin's urge to prioritise the development of IT and other new technologies, the government started a special working group in 2017 that developed a list of initiatives to facilitate the rollout of the Digital Economy programme. The initiative was further expanded in President's Vladimir Putin's May Decree.
The new cost of the programme jumped 66%, as previously the roadmap was reportedly estimated by the Finance Ministry at RUB1.2 trillion, with the sources of the financing still loosely defined.
According to Vedomosti, the roadmap now is seen costing RUB3.5 trillion, out of which RUB2 trillion will be spend out of the federal budget in 2018-2024. RUB820 is budgeted for digitalisation and IT upgrade of state institutions (being the cost unit that rose the most since the last estimate), RUB130bn on human resources development, RUB110bn for the development of Mir payment and ID system.
Notably, RUB1.5 trillion is planned to be raised from the private sector, out of which RUB1.2 trillion is planned for the development of digital technologies. The private investment could still remain quasi-state, as it would rely on discounted loans provided by the state development bank Vnesheconombank (VEB).