DENVER, July 23 (RIA Novosti) - Russia will invest a total of $4 billion in nanotechnology research over the next four years, the head of state corporation Rosnanotech told an international conference of nanotechnology experts.
Leonid Melamed led a Rosnanotech delegation at the three-day nano renewable energy conference in Denver, Colorado, which ended on Tuesday, said state nanotechnology funding plans adopted in 2007 focus on "nanotechnology research, which is coordinated by the Kurchatov Institute, and commercialization of nanotechnology projects, for which Rosnanotech is responsible."
The corporation intends to invest around 70% of its budget on helping new companies at the early, high-risk stages of projects. Rosnanotech will support the companies until they grow sufficiently to be independent.
"We finance projects irrespective of who the bidders are, and do not distinguish between Russian and foreign companies. I would like to draw your attention to the unique possibilities for developing and expanding business in Russia," he told the conference.
The company has so far received 500 applications from companies in Russia and other post Soviet CIS states.
