FRADKOV SAYS SCIENCE NEEDS TO ADAPT TO MARKET ECONOMY

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MOSCOW, May 18 (RIA Novosti) - The main objective of Russian science is not simply to preserve its potential but also to adapt to market economy conditions, Prime Minister Mikhail Fradkov said at the annual general meeting of the Russian Academy of Sciences on Wednesday.

"To not simply preserve science's potential but also to move to a system of stable development and effective use is a fundamentally new objective in the sphere of science," Mr. Fradkov said.

He highlighted the important theme of adapting the academic sector of science to market conditions and attracting additional sources of funding through the development of the state sector of science.

Mr. Fradkov explained that there are large reserves in the scientific sector. "The entire state sector of science uses a sizeable part of state property as an economic manager but management of this property has been ineffective so far," Mr. Fradkov said.

According to him, innovations and private capital need to be attracted to science. "The creation of an innovation belt makes it possible to promote scientific-technical advances on the market quickly and at a low cost, attracting private capital," the prime minister noted.

He said that more than 50 business incubators are already functioning in Russia. Their objective is to use innovative ideas for commercial purposes.

"It is necessary to develop more technology parks, form a network of consulting and engineering firms and deploy a network of venture funds oriented to high technologies," the prime minister emphasized.

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