Virgin Connect, a broadband operator, which opened its office in Nizhny Novgorod earlier this fall and announced plans to invest in regional Internet projects, became a strategic partner of InnoFest, a youth innovation festival which will be held at Lobachevsky State University of Nizhni Novgorod (UNN) from November 18 to December 12, 2014.

Its owner, the British billionaire Sir Richard Branson, has expressed vocal support for this regional innovation promotion initiative. InnoFest participants and guests may look forward to a video greeting by Sir Richard, 64, one of the world’s most renowned entrepreneurs, a famous traveler and world record breaker in hot air ballooning and sailing, and the eighth richest UK citizen with an estimated net worth of about $5bn, according to the Forbes 2014 list of billionaires.

From Virgin Records (the world’s biggest independent record label) in the early 1970’s to Virgin Atlantic (a leading global airline), Virgin Trains, Virgin Hotels and then some in the 1980-90’s, to the Virgin Earth Challenge (a $25m prize for scalable and sustainable ways of removing greenhouse gases from the air) in the new millennium, Sir Richard has become the only person to build eight billion dollar companies in eight different sectors while aspiring to provoke positive change globally.

Virgin Connect, a Strategic Partner of Russia’s InnoFest, is one of the companies of Virgin Group, a leading international investment alliance and one of the world’s most recognized and respected brands. Conceived in 1970 by Sir Richard Branson, Virgin Group has gone on to grow successful businesses in sectors ranging from mobile telephony, travel, financial services, leisure, music, holidays and health & wellness. Virgin has created more than 400 branded companies worldwide and employs almost 60,000 people, operating in over 50 countries with global branded revenues of $24bn in 2012. 

The Youth Innovation Festival (InnoFest), a month-long series of events and competitions for those who are interested in setting up their own businesses or marketing their innovative projects, is bringing together more than 1,000 young scientists from among university students and postgraduates, as well as research fellows representing the region’s research institutes. High-level government officials and business people from both the domestic and international entrepreneurial communities are also expected.