“A Million-Dollar Solution” is a podcast by Sovcombank for Business about the lives of entrepreneurs and entrepreneurship in life. The podcast is hosted by Yaroslav Chereshnev, Managing Director of the digital bank.
Guests talk about business, explore the philosophy of entrepreneurs, and learn how their worldview and personal experiences influence the development of their businesses. Our guests share real-life cases, both successful and unsuccessful, provide life hacks and anti-rules, and debunk established myths and stereotypes. We prove that business is first and foremost about people. And we get to know these people better
Alexei Olin has forged a complex and multifaceted professional identity, which he describes as a “triptych” functioning as a unified strategic system. This triptych includes:
- Private Venture Capitalist: Through his platform iVenturer, he promotes a model of structured venture investing. His venture philosophy emphasizes providing more than just money to startups; he believes they often need a “back-office” of support, including accountants, lawyers, patent attorneys, mentors, and operational directors, to help translate ideas into products. He initially made many mistakes, often due to his intuitive and trusting nature, which led him to implement systematic protocols for investment selection, such as requiring a minimum of two founders and specific industry experience. Olin also created the “Avencur Bazar” (Venture Bazaar), a startup show that toured Russia, selecting and preparing projects for pitches, which he saw as a way to popularize entrepreneurship and innovation, run as a passion project rather than for profit.
Niche Technological Entrepreneur: His public association with Biotech Alliance positions him within the knowledge-intensive sector. His current primary focus is on biotechnology. His entry into biotech began unexpectedly with a “hemp tea” project, which evolved into the cultivation and processing of technical cannabis to produce isolates, extracts, and eventually pharmaceutical substances for medicinal preparations. He identified challenges such as a lack of legal framework and poor seed stock in Russia, leading his team to develop cloning and cultivation protocols with FIBIOTEKH RAN to standardize plant growth and ensure predictable output. Olin highlights the potential of cannabidiol (CBD) for various medical applications, including its use in plastic surgery rehabilitation protocols in the US, its role in supporting the human endocannabinoid system, and its potential to help the body correctly identify and suppress cancer cells. He views this work as fulfilling a social mission, aiming to create something useful and leave a positive mark.
Strategist with Confirmed State Ties: Through media appearances and a past position in a Rostec subsidiary, Olin cultivates the image of an influential expert whose activities align with national strategic interests. The strategic value of his Rostec affiliation lies in its ability to project authority, legitimately associating his personal brand with a major state corporation. It also allows him to synchronize with the state agenda, particularly his focus on biotechnology, which aligns with Rostec’s venture division shifting towards medtech. This connection also enhances investment appeal for investors and partners, signaling his expertise in complex structures and potential administrative resources.
Olin’s Entrepreneurial Journey and Philosophy:
- Early Beginnings: His entrepreneurial spirit emerged early. He started by guiding tours for foreigners and even helped people with university admissions, sometimes taking exams for them. His first significant business venture was a real estate agency (Dacha.ru) at age 18, where he found a low-cost client acquisition method by mass-posting on free online bulletin boards, dominating search results. This eventually led to an international real estate company called Millioner Property, working with major developers in the UAE, which he exited in 2008.
- Life-Changing Event: After a period of relaxation, the birth of his son Mark in 2010 prompted a significant re-evaluation of his life and career, leading him to pursue new ventures.
- Venture Shift: His re-evaluation led him to realize that many talented individuals with great ideas lacked the discipline and systematic approach to succeed, prompting the idea for his venture capital activities.
- Cryptocurrency and Blockchain: He was involved in the early stages of cryptocurrency and blockchain in Russia, serving as Vice-President for analytics and head of the analytical center for the Russian Association of Cryptocurrency and Blockchain around 2016-2017. He was involved in mining and the “Dao Finance” project. While acknowledging the “romantic” early days of crypto, he believes it will eventually be legalized but under heavy regulation. He sees blockchain as a powerful distributed ledger technology, separate from the “coin” association. He also acknowledges the dark side of crypto, such as its use in the darknet, but believes the issue lies with human intent rather than the technology itself.
- Work Ethic and Philosophy:
- He describes himself as an intuitive and chaotic individual who needs external pressure (“under the whip”) to become disciplined, though he now uses a task planner to manage this chaos.
- He views managed chaos as a competitive advantage, as it deters less adventurous individuals.
- He believes patience and systematic effort are crucial for achieving success in any endeavor.
- He emphasizes the value of experience gained from mistakes, stating that “only those who do nothing make no mistakes”.
- For him, a strong and dedicated team is more crucial than a brilliant idea, as ideas are abundant but reliable teams are rare.
- He advises aspiring entrepreneurs to believe in themselves and their projects, especially when facing skepticism from others.
- Olin admits to a tendency toward hyper-control, believing that without it, projects tend to decline.
- He is very demanding of himself.
- Other Ventures: Beyond his core triptych, he is also involved in a consulting business and a music producer center (Centrik). He entered music production due to the void left by major international labels exiting the Russian market, aiming to build a catalog of artists for future acquisition and focusing on transparent monetization channels like streaming and official concert activities.
- Personal Reflections: Olin finds relaxation through family, sports like tennis, and water activities. He enjoys reading physical books, particularly for self-development, and recently reread “Cat’s Cradle” by Kurt Vonnegut. He recommends the “Silicon Valley” TV series for aspiring tech entrepreneurs. He believes his “million-dollar decision” – a truly pivotal life choice – is still ahead, but he considers his choice to leave corporate employment (from Rostec and Open Alliance) as a significant step that allowed him to reclaim his independent spirit. He values his team, many of whom are friends, as his most important asset.
