Rusnanotech

The Russian Corporation of Nanotechnologies (RUSNANO) was established by the Federal Law in 2007. The corporation was charged with stimulating development, creating and strengthening infrastructure and realizing projects in nanotechnology and the nanoindustry. To accomplish this task, RUSNANO co-invests in nanotechnology projects that have high potential for commercial or social benefit. Early-stage investment by RUSNANO lowers the risk of its investment partners from the private sector.

RUSNANO participates in building nanotechnology infrastructure, which includes nanotechnology centers of excellence, business incubators and early stage investment funds.

RUSNANO selects promising spheres for investment based on long-term forecast developed by leading Russian and world experts. The corporation is open to international cooperation, which can be realized in many different forms, including joint ventures, interchange of data, infrastructural and educational projects. To assist the advancement of the Russian nanotechnology industry into global markets, RUSNANO organizes the annual Nanotechnology International Forum in Russia. The corporation's budget is $5 billion. Its chief executive is Anatoly Chubais.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

On April 18, 2007, President Vladimir Putin took part in a nanotechnology conference hosted by the institute and announced that "nanotechnology is an activity for which this government will not spare money." He elaborated on this matter in his annual address to the Parliament of Russia on April 26, declaring that the state is going to allocate more than US$ 5 bn by this year end to the Russian Nanotechnology Corporation and urging to pass necessary legislation as soon as possible.

R.L. Wottrich Note - Current Rusnano funding stands at $10 billion.