Venture capital to solve unemployment problems in Belarus?

Venture capital to solve unemployment problems in Belarus?

If Belarus does not adopt the IT Decree now, there will be half of unemployed population in Belarus in 20 years. Moreover, the development of IT technologies will help create jobs for humanitarian professions, said IT entrepreneur Viktor Prokopenya and managing partner of the Israeli fund ATOORO Yonatan Brender in an interview to ONT TV Channel.

They commented on the upcoming decree "On the development of digital economy", which is planned to be signed in Belarus by the end of December 2017. Viktor Prokopenya explained why the new decree will not turn Belarus into a country of programmers.

"The world is turning into a world of programmers. It is likely that there will be no non-IT companies in the future.

There are more and more electronic devices, and simple primitive work that people used to do with their hands is increasingly automated. It is taken away by robots. People will be more engaged in creative things in the future.

This decree is a response to the international trend. If this is not done now, then in 20 years we can have a country in which half of population will be unemployed," Prokopenya said.

He noted that this is the only correct development of the Belarus economy and the only way to avoid unemployment problems in the very near future.

According to Brender, if the decree is adopted, the doors for venture capital will open, which is the fuel on which the entire global IT industry operates.

"Now Belarus has sensible specialists, engineers, programmers. But we still lack a convenient legal framework in which venture funds can invest and finance the activities of companies," says Yonatan Brender, managing partner of the Israeli fund ATOORO.

He added that the arrival of venture capital will open more opportunities for the development of science in Belarus. "In particular, we are talking about medical and pharmaceutical developments," he said.

"In IT companies that deal with the most interesting business models one programmer creates five jobs for people with non-technical education," Prokopenya said.

Photo: Viktor Prokopenya's personal archive