Rusnano Forum puts spotlight on commercializing nanotech projects

Moscow is currently hosting Russia's first Nanotechnology Forum, and industry players say the government should be looking to fund more research and development after kick starting its first two projects.

Cancer cures, wear-free metals and aspherical glass – they are just a few of the applications nanotechnology is being put to. The technology has existed for 30 years but now it has acquired national importance.

The governments goal of set the Russian economy on the road to being an innovative economy took shape at the Rusnano forum, with Politicians, scientists and enterprenuers discussing how to create business opportunities from the science.

Rusnano has signed agreeements with Mikhail Prokhorov's Oneksim Group and the Urals Optical factory to develop a high-tech lightning system that will save up to 7 times more energy than usual light bulbs.The company has the potential to take up to 9 % of the world's market for light-emitting diodes when it reaches planned production levels. The diode technology was brought back to Russia from abroad where Russian scientists developed it.

Mikhail Prokhorov says it's hard to find worthy investment projects in Russia. Scientists say that without research financing there are few high tech projects that are a ready-made business proposition.  One participant from the Baikal Nanotechnology Centre called for more Russian funding and simpler processes.

“We are collecting documents to file a request to Rusnanotech for our technology for cancer treatment, however it's quite a complicated procedure. I think that Rusnano should also fund the research – it's important. our technology was sponsored by foreign funds.”

However Rusnano enters projects with private investor participation and it's goal is profitable business according to Rusnano Head, Anatoly Chubais.

“Rusnano was created to promote high tech production, our aim is to develop business in the nano technology sector. We can participate in science research if it is an obligatory part of business process.”

Currently only 6 projects have received the Corporations support.

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