Consult Invest ITIC Co-organizes Russian-Chinese Youth Business Accelerator

From August 20 to 25, the Russian-Chinese Youth Business Accelerator took place in Ulyanovsk.

The primary goal of the Accelerator was to develop innovative entrepreneurship, strengthen economic ties between Russia and China, and create new opportunities for entrepreneurs from both countries. Participants had the chance not only to showcase their projects but also to receive valuable advice from experts, establish business connections, and learn about the latest trends in the global economy.

During the RCYBA, a total of twenty-two Russian-Chinese agreements were signed, aimed at developing mutually beneficial cooperation.

Throughout the Accelerator, participants reached key agreements and signed contracts in the following areas:

1. Trade: Agreements were signed on the supply and promotion of Chinese products in the Russian market, the export of Russian agricultural products and fuel to China, as well as cooperation in the purchase and distribution of medical equipment.
2. Investments and Joint Ventures: Agreements were reached on investment partnerships in the food industry and lumber production.
3. Education and Consulting: There was an exchange of experience in the fields of business education, investment, and banking.
4. Youth Policy and Exchanges: An intention was confirmed to continue cooperation in youth policy and to organize exchanges between young entrepreneurs from the Ulyanovsk region and the provinces of Jiangsu and Heilongjiang.
5. Leisure Services: Prospects for the supply of sound and lighting equipment from China to Russia and the organization of tours by Russian artists in China were discussed.

A reciprocal visit of Russian residents to Nanjing, China, is expected in November this year. This event will continue the work of the Russian-Chinese Youth Business Accelerator.

These results underscore the significance and potential of Russian-Chinese economic cooperation.

The main organizers of RCYBA were: the Government of the Ulyanovsk Region, the Ministry of Youth Development of the Ulyanovsk Region, Ulyanovsk State University, and the ANO “Leaders of International Cooperation” and the company “Consult Invest ITIC.” The event was held with grant support from Rosmolodezh.

Program partners included: the All-China Youth Federation, the Youth Council of the Russian-Chinese Committee of Friendship, Peace, and Development, the Dome Foundation Investment Fund, the Russian-Asian Business Council, the Union of Chinese Entrepreneurs in Russia, and others.