Eduard Fiyaksel

Professor, Ph.D. in Economics, Candidate of Physical and Mathematical Sciences

Chairman of the Administrative Council of the National Association of Business Angels (NABA), President of the Association of Business Angels «Start Invest», Member of the Advisory Board of «Russian Venture Company».

Higher School of Economics — Nizhny Novgorod, Head of Venture Management Department, Head of the Center for Entrepreneurship http://www. hse. ru/org/persons/201698

since 2010 — till present

Chairman of the Board of Directors of «Clouds NN»

since 2010 — till present

Head of the Center for Entrepreneurship HSE-Nizhny Novgorod

from 2009 — till present

Head of design and training laboratory «Innovation Systems Management»

from 2005 — till present

Head of Venture Management Department, HSE — Nizhny Novgorod

2007 — 2010

Head of Marketing Department HSE — Nizhny Novgorod

2006 — 2013

Chairman of the Board of Directors of «Mega-NN» (system integrator of telecommunication networks based on fiber optic line) (in November 2013 «Mega-NN» sold to Trivon (in Russia the brand name is Virgin Connect)

from 2006 — till present

President of the Association of Business Angels of the Volga Federal District «Start Invest» (The first regional association of business angels in Russia)

from 2007 — till present
Member of the Expert Council on the selection of subjects of Nizhny Novgorod Innovative Business Incubator (NIBI)

from 2008 — till present

Vice — president of The National Union of business angels of Russia

from 2010 — till present

An expert and a member of the Advisory Board of «Russian Venture Company»

from 2010 — till present,

Chairman of The National Union of business angels of Russia

Advisory activity:

  • Member of the Advisory Board of the Nizhny Novgorod business incubator;
  • Expert of «Russian Venture Company»;
  • A member of the jury and the expert of the National entrepreneurship competition «BIT».


  • «The best leader of a business angels group in Russia» in 2009;
  • Winner of the international competition «Entrepreneur of the Year, 2010» in Russia in the nomination «For the development of entrepreneurship»;
  • Led by Fiyaksel E. A. the Association of Business Angels «Start Invest» at the XI Annual Congress of the European Business Angels Network (EBAN) (Moscow, April, 23-24 2012) according to the results of 2011 was nominated in the category of «Breakthrough of the Year in services for business angels» and won a special prize «For Courage and Innovation»;
  • At the III Annual Award of the National Association of Business Angels (Moscow, October 2-3, 2013) the Association of Business Angels «Start Invest» won in the nomination «Syndication».

Areas of expertise:

  • Business Venture;
  • Innovations Marketing;
  • Proactive selling;
  • Organizational aspects of training venture (innovation) managers;
  • Advanced development methods of communicative skills of an innovation manager;
  • Management of innovation systems, regional and industrial innovation clusters;
  • Commercialization of innovative projects.

Spheres of business interest:

  • Telecommunications, cloud technologies, IT, development, new materials, energy efficiency.

Author of books, monographs, textbooks:

«Theory, methods and practices of business venture», «20 lessons of business venture», «„Cube of innovations“ and palette of innovators: Ideas, projects, lessons and comments», «Evaluating the efficiency of venture projects: methodological aspects», «Venture Management: tutorial», «Innovations. What’s to be done». Mr. Fiyaksel has more than 120 publications in Russian scientific journals.

At the Department of Venture Management within the master’s program «Innovation Management» a system for training managers of innovation projects is implemented, it’s built on the project method of training. Each student conducts their own project. While studying students communicate not only with lecturers, but also with masters (of business practices), who help them to work on their projects. E. A. Fiyaksel is directly involved in the activities of the project training laboratory «MIS» as a teacher mentor and as a coach on marketing and venture capital investments. In order to promote student entrepreneurship of the HSE and to create and develop innovation infrastructure of the University, the Center for Entrepreneurship HSE — Nizhny Novgorod was created in 2010. The Center for Entrepreneurship develops as a theory and practice design center for entrepreneurship in various areas (mainly, in the innovation sector), as well as consulting center.

E. A. Fiyaksel has been involved into business activities since 1987. During that time he effectively headed more than 30 successful companies in financial sector, retail, real estate development, telecommunications, IT, etc.

E. A. Fiyaksel has been engaged with venture investing since 1996. He has broad experience of successful investing, growing and selling a number of innovative companies.