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Honoring the Russian Business
Leaders of the Year 2010

By Sergey Litovchenko, Executive Director,
Russian Managers Association, Russia

The Minister of Finance of the Russian Federation Aleksei Kudrin rightly summarized the first decade of the new millennium as one of economic growth for Russia, pointing out that between 2000 and 2010 the real income of the average Russian increased by 160% while salaries rose 230%, GDP shot up by 68%, industrial output saw an upturn of 47%.
‘The infrastructure of the whole Russian economy strives for modernization’
Sergey Litovchenko, Executive Director, Russian Managers Association, Russia

These are welcome signals but further rapid development seems impossible without changing the fundamental economic policies.The infrastructure of the whole Russian economy strives for modernization. By modernization, read innovation in the economy and in the economic activities underpinning it.This means research and development, investment and changing the management environment for innovation and modernization to take place.

An international jury led by Russian Managers Association and Horasis took the opportunity at the first Global Russia Business Meeting to recognize and honor three Russian business leaders that excel in innovation and leadership and whose impact on the economic development and global integration of Russia was obvious well beyond the borders of the country.

Sergey Litovchenko, Executive Director, Russian Managers Association awards Dmitry Loschinin, Chief Executive Officer, Luxoft

The award ceremony took place at a special plenary during the Global Russia Business Meeting in Ljubljana, 17 May 2010. I had the privilege to name Russian Business Leader of the Year award winners and had a short but substantial panel with them:

• Igor Agamirzyan, Chief Executive Officer of Russian Venture Company for support of innovation economy in Russia

• Dmitry Loschinin, President of Luxoft for establishing a successful international hi-tech enterprise

• Alexander Kiselev, Director General of Russian Post for modernization initiatives in the government economic sector in Russia

The first award is logical for the innovation trend that the Russian leaders have set. Igor Agamirzian, Ph.D., is a highly successful CEO & Chairman of the Executive Board of the Russian Venture Company since May 2009. His previous positions included General Manager of the Software Development Center of EMC Corporation and National Technology Officer and member of the Cabinet of the Chairman of Microsoft in Russia and CIS countries.

Russian Venture Company is a fund of funds and development institution which was established by the Russian government to foster development of venture capital industry and national innovation system in Russia.The company was trusted by Russian government 1 billion USD to invest through 7 venture funds into priority technology areas.These areas include information technology, telecommunications, biotechnology, medicine, nanotechnology, alternative energy, and power generation sectors.

Under the leadership of Mr. Agamirzian Russian Venture Company undertook a number of important initiatives in development of innovation economy in Russia. One of them is setting up the first Seed Fund in Russia in the end of 2009 which invests in high growth potential startups at early stage of development.This effort was regarded as a Breakthrough idea in Venture Financing by Finance magazine, a Russian leading business media.

Igor Agamirzyan, Chief Executive Officer, Russian Venture Company - awarded as Russian Business Leader-of-the-Year by Sergey Litovchenko, Executive Director, Russian Managers Association

Just to name other projects the Russian Venture Company is involved in today, they are legislative initiatives to create an innovationfriendly business environment in Russia, partner and consulting networks supporting innovations all the way for investments, global outreach programs helping Russian startups to succeed in global markets.To sum up, Russian Venture Company is today in the forefront of developments which will build a Knowledge Economy in Russia tomorrow.

Luxoft, a global IT company, is Russia’s leading software developer and IT services exporter.The company was founded in 2000 and is a member of the IBS Group. Dmitry Loschinin has led Luxoft from its inception in April 2000.With over 20 years of IT experience Dmitry has built a superior team of professionals and has brought Luxoft to the vanguard of global IT outsourcing.

Dmitry started his professional career as a software engineer in the late 1980s. In a short period of time he achieved management roles within leading multinationals such as KED GmbH, MCP GmbH and IBM. In 1998 Dmitry joined the IBS Group where he successfully established SAP R/3 implementation practice before taking charge of the IBS initiative to offer offshore software services. This initiative eventually became Luxoft.

Under Loschinin’s leadership, Luxoft has enjoyed exponential growth, became the world’s only company to achieve both CMM and CMMI Level 5 certification simultaneously, and has climbed to the top of the Russian software services industry by building a loyal client base of world’s most successful companies.The company now employs more than 1,200 people at five development centers.

Leveraging a unique, proven offshore engagement model, Luxoft provides a full range of custom software development services for IT solutions on various platforms and technologies. Luxoft runs research and offshore development centers in Moscow, St. Petersburg, Dubna, Omsk and Kiev. Under Dmitry’s stewardship Luxoft has enjoyed exponential growth and has become a global IT outsourcing leader with a loyal client base that includes some of the world’s most successful companies.

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