Russia, Belarus and Kazakhstan set up interstate high-tech center
Russian, Belarus and Kazakhstan will go ahead with their new Eurasian Economic Community (EurAsEC) high-tech center project
Aug 02, 2013
The three countries are the most active players in this currently five-member supranational organization that also includes Central Asia’s Tajikistan and Kyrgyzstan, all parts of the former Soviet Union.
The EurAsEC Interstate Council first approved the high-tech center idea back in 2009. Russian Venture Company (RVC), Russia’s government-owned fund of funds for innovation, acts as a project operator on the Russian side.
The new entity will bear the full name of "EurAsEC Innovation Technology Center Venture Company, LLC." The future company will pursue a multiple goal of "creating an effective institution for innovation activity in EurAsEC, investing and buying stakes in legal entities that engage in commercialization of innovation, and developing consulting services for other organizations that focus on innovation."
For example, Belarus has already suggested that the new high-tech center fund five of its innovation projects in new materials, nanocarbon technologies, and powder metallurgy.
The EurAsEC Innovation Technology Center may soon be given for management about 15 sizable innovation projects. The core sectors to support will include supercomputers, space technologies, medicine, petroleum processing, nanotechnologies, and eco-friendly use of natural resources.
The screened and selected projects will be funded as part of private-public partnerships (PPPs). Each project may expect between $3m and $90m in funding.
Dmitry Mityaev, the CEO of EurAsEC Innovation Technology Center Venture Company, said earlier this year that his fund had plans to start by supporting five-to-seven projects at the inception stage. Once those are considered successful from an ROI point of view, the new company will move to backing more projects.
The EurAsEC Interstate Council first approved the high-tech center idea back in 2009. Russian Venture Company (RVC), Russia’s government-owned fund of funds for innovation, acts as a project operator on the Russian side.
The new entity will bear the full name of "EurAsEC Innovation Technology Center Venture Company, LLC." The future company will pursue a multiple goal of "creating an effective institution for innovation activity in EurAsEC, investing and buying stakes in legal entities that engage in commercialization of innovation, and developing consulting services for other organizations that focus on innovation."
For example, Belarus has already suggested that the new high-tech center fund five of its innovation projects in new materials, nanocarbon technologies, and powder metallurgy.
The EurAsEC Innovation Technology Center may soon be given for management about 15 sizable innovation projects. The core sectors to support will include supercomputers, space technologies, medicine, petroleum processing, nanotechnologies, and eco-friendly use of natural resources.
The screened and selected projects will be funded as part of private-public partnerships (PPPs). Each project may expect between $3m and $90m in funding.
Dmitry Mityaev, the CEO of EurAsEC Innovation Technology Center Venture Company, said earlier this year that his fund had plans to start by supporting five-to-seven projects at the inception stage. Once those are considered successful from an ROI point of view, the new company will move to backing more projects.