Moscow Innovation Cluster presents new anti-COVID-19 R&D

May 7
Science and innovation

Compiled by the World Alliance of International Financial Centres (WAIFC) as part of the drive to fight the spread of the coronavirus infection, the report titled “How Global Financial Centres Can Help Combat the COVID-19 Pandemic” presents R&D carried out at the Moscow Innovation Cluster (MIC).

The report says that the MIC has succeeded in establishing the platform showcasing a landing page, Business vs. COVID-19, which features advanced technologies contributed by financial and technical start-ups.

The focus was on two developments: a service for contactless payments based on a biometric face and QR recognition system and an app to control the availability of basic necessities and medicines at Moscow shops and pharmacies. The app makes it possible to survey goods in stock and plan a timely display of products on the shelves. It can also tip off customers on the situation at pharmacies and shops, something that will reduce traffic around the city.

Sixteen WAIFC city-members have shared their experience in fighting the coronavirus infection and its consequences. The report says that advanced technologies are the most important tool for use in combatting COVID-19 and the circumstances caused by its spread.

Moscow consistently occupies a leading position in the global financial technology market, the authors of the report note. In addition, the city has one of the most advanced financial infrastructures in the world.

“Financial and technical developments are needed today. They help to control the sanitary and epidemiological situation in the city. The MIC’s work is sparking interest both within Russia and elsewhere. Solutions offered by financial organisations are used to support vulnerable sectors and enhance overall security in the city,” Head of the Moscow Department of Entrepreneurship and Innovative Development Alexei Fursin said.

Established in 2018 at Moscow’s initiative, WAIFC is an international non-profit organisation that operates as a key venue for cooperation between the leading world financial centres in developing common approaches to how to create a favourable environment and infrastructure.

The alliance includes Moscow, Nur-Sultan, London, Paris, Frankfurt, Luxembourg, Brussels, Abu-Dhabi, Tokyo, Casablanca, Toronto, Busan, Hong Kong, Doha, Port-Louis, and Muscat. 

“The Moscow Government has played the determining role in creating the WAIFC thanks to its effort to unite 16 leading financial capitals with the aim of strengthening international financial and technological cooperation,” head of the Moscow Innovation Cluster Fund Anatoly Valetov said. “For the MIC, the WAIFC is a tool helping to expand access to international expertise and investment. Besides, it is a presumed partner of the financial and technological track within the Moscow Accelerator programme.”

As a WAIFC city-member, Moscow plays a leading role in creating a special environment, facilitating the development and introduction of technologies and support for companies involved in digitalising the financial sector.  

According to WAIFC Managing Director Jochen Biedermann, the MIC is a key element of the innovation development infrastructure in the city. He believes that the platform has amassed the most advanced technological solutions and products, many of which are in high demand in numerous foreign countries.  “The Alliance intends to support and promote the MIC participants and their products on international markets in a consistent manner,” he added.

The MIC is a project of the Government of Moscow. It is a large-scale platform designed to develop innovations and promote cooperation between business, industry, science, and the city. It must form a unique innovation ecosystem for business and create opportunities for the successful development of innovation projects. The Moscow Department of Entrepreneurship and Innovative Development is in charge of the project.


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