OREANDA-NEWS. April 07, 2010. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, OJSC Russian Venture Company, the Russian Nanotechnology Corporation, the Russian Development Bank, the Fund for Promoting the Development of Small Enterprises in the Scientific and Technological Sphere, the All-Russian Nongovernment Organization of Small and Medium-Sized Enterprises “OPORA ROSSII”, the Russian Venture Investment Association, the Moscow Interbank Currency Exchange and the Federal Agency for Youth Affairs entered into an Agreement on Cooperation between Development Institutions and Interested Organizations in Securing Continuous Financing of Innovation Projects at all Stages of Innovation Cycle.

This Agreement aims to establish cooperation between the parties in identifying innovation companies’ needs and providing them with instruments, services and conditions for efficiently implementing innovation projects on the territory of the Russian Federation and the global market. Its implementation would create a mechanism for exchanging information that enables the parties to the Agreement to cooperate on a constant basis in monitoring and implementing innovation projects  and would make it possible to transfer projects to development institutions for monitoring.

Under the Agreement the parties are ready to cooperate in:
providing financial assistance to innovation projects carried out by small and medium-sized enterprises at various stages of their implementation (as applied to state development institutions  such as the Bank for Development and Foreign Economic Affairs (Vnesheconombank), the Russian Nanotechnology Corporation, the Russian Venture Company, the Russian Development Bank, the Fund for Promoting the Development of Small Enterprises in the Scientific and Technological Sphere;
searching for leading-edge technologies for implementing innovation projects and submitting them for consideration by other parties to the Agreement (the Federal Agency for Youth Affairs, the All-Russian Nongovernment Organization of Small and Medium-Sized Enterprises “OPORA ROSSII”, the Russian Venture Investment Association);
raising private investments for projects that enjoy the support of financial development institutions  (the Moscow Interbank Currency Exchange, the Russian Venture Investment Association);
developing common approaches to selecting, examining, structuring and implementing innovation projects (all the parties to the Agreement).

Cooperation between the parties to the Agreement is planned to be carried out both on a multilateral (as part of cooperation within the Coordination Council and the Working Group), and on a bilateral basis (as part of cooperation within project groups to be established by the parties).