MOSCOW, May 14. /TASS/. BRICS countries could achieve an annual economic benefit of $2.74 trillion by implementing a new technology financing architecture, according to a report by the Central University supported by the Russian Finance Ministry presented at a seminar of the Board of Governors of the New Development Bank (NDB).

The study dubbed "Knowledge is Power Again: How BRICS Countries Can Build Future Technology Financing" found that the current model is unbalanced as projects may receive support at the research stage but face a lack of capital when commercializing, scaling up, or entering the capital markets.

To ensure technological sovereignty, it is necessary to create an end-to-end financing system at all stages, according to the report. This is especially important for Deep Tech projects, which require long development cycles, high capital intensity, and long-term financing.

The authors believe that such a model could generate up to $2.74 trillion in additional revenue for BRICS countries, which is equivalent to almost 8.8% of the participating countries’ combined GDP.

Moreover, the transition to the new model creates an additional market for R&D and venture funding worth $406.5 bln annually. That said, at least 65% of this amount should come from private sources, they added.

Thanks to the new approach, fragmentation of technological chains, the time it takes to bring complex innovations to market is also expected to be reduced from 7-9 years to 4-5, the Central University said.