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RUSSIAN CORPORATION OF NANOTECHNOLOGIES

«The Russian Corporation of Nanotechnology» («RCNT») is established to address the growing challenge that arises with the rapid development of new technologies in the nanoscale. As stated by many experts, nanotechnology may be one of the most important industries in the XXI century.

Director General of the Corporation: Leonid Borisovich Melamed
Chairman of the Supervisory Council of the Corporation Andrei Alexandrovich Fursenko, minister of education and science of Russian Federation

The need for creating such corporation was formulated in 2007 by President V.V. Putin in his annual message to the Federation Council of the Federal Assembly of Russian Federation. The executive and legislative branches of power have constructed a law which was signed by the President of Russian Federation on July 19 2007. In this law the legislative basis, organization principles, creation and activity goals of Russian Corporation of Nanotechnologies were stated.

The key directions of RCNTТs activity are:
  • provide assistance to the state policies in the sphere of nanotechnology;
  • development of the innovative infrastructure for nanotechnologies;
  • achievement of projects aimed at creating innovative nanotechnologies and nanoindustries;
Official web-site: http://engnano.on.ru

In order to achieve its goals, corporations employs the following main functions:

Research and development:
  • provides organizational and finance support to the R&D projects in the sphere of nanotechnologies.
Education in the field of nanotechnologies
  • provides financial support for the projects aimed at educating the specialists for nanotechnologies.
Financial support for innovative projects:
  • evaluation of nanotechnology projects for the purpose of financial support with the resources of the Corporation;
  • financing the nanotechnology projects with provision for commercialization and production;
  • supervision of projects in the field of nanotechnology which are funded by Corporation.

Independent opinion:

The head of "Rosnanotech", Mr. Leonid Melamed, has announced the plans of the state corporation for 2008. The partnership, which received 132 billion dollars from the state at the end of 2007, will limit its income resources to the placement of its assets in financial instruments and will open its office not earlier than in 2009. The profitability of these investments will come up to 3.78% per annum and it is already clear that these resources will first of all go to the banks.

As per Mr. Melamed, the state corporation has no plans as for the financing of the projects in the area of nanotechnologies up to summer 2008, since it is only in April - may 2008 that the corporation will get its first pilot contracts, which will play a supportive role. "I reckon we may start financing the projects already in the second half of the year", - said Mr. Melamed. He will also present the long waited profit of the corporation for 2008. As per his comments, the sum will come up to around 5 billion roubles and will consist of resources earned by means of temporary placement of corporation's free assets. The corporation has absolutely no plans regarding any other kind of income. Its expenditure will only be connected with its current activities, including the resources which will need to be used for the organization of the nanotechnological forum in October-November. "Rosnanotech" is planning to start building its own office in 2009 only.

Taking into account that in 2007 almost all of the companies assets could be considered as "temporarily free", the profitability of their placements will amount to 3.78% per annum. This rate corresponds with the profitability of asset placement of the stability fund in 2007 (around 4% per annum), just slightly higher than the current deposit rate of the Central Bank with 1 week term (3.5% per annum) and considerably lower than interbanking credit with month term - yesterday Mosprime's rate was 5.97%. As per Mr. Melamed, "Rosnanotech" before placing its assets, it must first wait for the Russian government to issue a special order which should be ready "any time now."

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