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Oct 7, 2005

AURIGA represented the Russian IT industry at the UC Berkeley Conference "Investing in Emerging Markets: China, India, Russia"

October, 7, 2005, Berkeley, CA - AURIGA, the oldest U.S.-Russian software outsourcing company, represented the Russian IT industry at the "Investing in Emerging Markets” conference, hosted by Haas School of Business at UC Berkeley. AURIGA President Alexis Sukharev spoke on the opportunities of the Russian IT services industry.

The UC Berkeley conference brought together top experts in finance, investment, trade, tax and IP law to discuss the challenges and opportunities for business growth and investment in Russia, China and India; the fastest growing economies in the world. Conference covered a lot of topics starting from sharing the experience in emerging markets in general through discussing the issues on intellectual property to the practical advice on investing in Russia, China and India. One of the key focuses of the conference was placed on the IT segment - one of the fastest growing global markets with the value comparable to the traditional industries. In this regard, Russia with its booming IT industry, IT outsourcing segment in particular, aroused the sincere interest of the conference participants as the important investment destination for the mature economies.

The Russian IT industry was represented by Alexis Sukharev, President of AURIGA, Inc. and RUSSOFT Board Member. Mr. Sukharev delivered a comprehensive report on “Russian IT Services Industry: New Opportunities”. In his speech Mr. Sukharev pointed out the remarkable annual growth of more than 40% the Russian software export segment of the IT market has seen over the past few years. This tremendous growth proved the increasing world demand on the Russian IT expertise, as well as its overwhelming quality.

Mr. Sukharev expressed the confidence that the improved economy and business environment, government support of the Russian IT industry, along with the growing maturity of the Russian IT companies resulted from the integration into the world IT industry, prepared a solid ground for this notable growth. Mr. Sukharev noted, that the elevating world recognition of Russia as one of the leading providers of software development outsourcing was well-predicted taking into account the strong in-depth educational system in Russia and profound scientific knowledge, “genetic memory” of handling complicated R&D projects as well as the inherent creativity and ability for engineering innovations kept being proved by the Russian software developers. Mr. Sukharev’s speech gave the experts much food for thinking and caused vivid discussions.

Russia, China and India can go very far and have much to offer to the world business. By combining the efforts of these three countries, we will be in the best position to advance our industries into stronger growth and maturity,” Mr. Sukharev summarized. “It is very important, that during this conference the representatives from Russia, China and India underlined the synergy between these countries, based on their historical, cultural, economic, political, and even geographic proximity, and expressed the confidence that this synergy would be the great background for further collaboration development," Mr. Sukharev noted. “The Russian IT and outsourcing capabilities made a significant impression on the conference audience consisting of investment bankers and potential buyers. This high level event provided the unique opportunity to discuss the actual investment challenges into the booming Russian IT and software development industry.

The overwhelming interest in the emerging markets expressed by the audience, as well as the high level of the conference itself, assured the conference organizers, Haas School of Business at UC Berkeley, to turn this conference into an annual event.

Julia Rovinskaya,
+ 7 (495) 975-7400 # 231

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