- More than 600 investors will attend the upcoming BRICS startup summit in Moscow on October 1-2.
- Russian startups are gaining greater access to Chinese markets and investment through this event.
- China will offer over $20 billion in direct government subsidies in 2024 for robotics and Artificial Intelligence projects.
- Venture capital investments are recovering globally, benefiting startups in the BRICS group.
- About 13% of participants in the Sber500 seed accelerator program selected China for overseas expansion.
The BRICS startup summit will take place in Moscow from October 1-2, connecting more than 600 investors and providing new opportunities for Russian startups to expand within China’s technology and investment market. The event aims to build stronger technology partnerships among BRICS countries, mainly linking Chinese and Russian businesses and financial networks.
According to Alexander Vedyakhin, First Deputy Chairman of the Sberbank Executive Board, China is considered a highly attractive destination for startup expansion. He noted that the Chinese government is providing substantial support for national technology ventures, especially in robotics and artificial intelligence (AI). In 2024, government subsidies for companies working on humanoid robots and AI are expected to exceed $20 billion.
“China is undoubtedly a very attractive market for startups, bringing them unique opportunities for scaling and developing tech businesses,” Vedyakhin stated. He also said that China ranked third worldwide in venture capital investments in 2024, following closely behind the United States and the United Kingdom.
Vedyakhin explained that the global venture capital market is recovering after large declines during and after the pandemic. “The global venture capital reached record levels of $643 billion in 2021, but by 2023 it halved due to investors’ sharply diminished risk appetite. By 2024, the market stabilized — with total transaction volume hitting $330 billion, showing initial signs of recovery,” Vedyakhin said. He added that there was a 25% year-on-year growth in early 2025, encouraging further expansion for Chinese startups.
Nearly one-third of all venture capital in 2024 has been invested in AI-focused startups, with sector investments rising over 80%. Generative AI projects, which use AI to create new content or solutions, have become a key trend for investors, according to Vedyakhin.
The summit will feature structured networking opportunities and direct investment offers. Participants will receive proposals for pilot projects, and corporations will meet with project founders. Public officials are set to discuss international cooperation, including possibly working more closely with China.
Data from the Sber500 accelerator shows that about 13% of its participants chose China for their international expansion, and last year, China ranked in the global top 10 for Sber500 startup applicants. The summit will also include over 150 speakers and a startup and corporate technology exhibition, culminating in a Startup Summit Awards ceremony.
For additional context on these developments and the people involved, see the official profile of Alexander Vedyakhin.
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