OREANDA-NEWS. June 17, 2010. The EBRD has raised 31.6 million Euros in medium-term funding for one of the biggest operators of science and technology parks in Europe, Finland’s Technopolis Group, to help it complete its first such project in Russia, a 63.2 million Euro development springing up close to St. Petersburg’s Pulkovo airport, reported the press-centre of EBRD.

The new facility, to be known as Technopolis Pulkovo, will introduce to the Russian market an entirely new concept of creating, operating and growing a commercially-funded science and technology park to support the growth of knowledge-intensive companies.

Located in a city known for high-standard universities and fast-growing IT sector, the St. Petersburg facility will focus on a variety of technology and knowledge-intensive sectors with world class potential. These include software development for internet and mobile telephone content, communications, value-added software, financial services, security applications, systems integration and electronics.

The Technopolis concept encourages technology transfers and networking by placing promising start-ups under the same roof as established firms, and matchmaking them with each other, as well as key local, national and international partners, financiers and potential customers. Targeted tenants include subsidiaries of leading international companies as well as local market leaders.

This physical proximity combined with the ability to arrange virtual global matchmaking solutions allows large technology companies, for instance, to outsource activities to small business tenants in their immediate orbit, giving start-up’s access to badly-needed investment capital.

Key to the commercial viability of this formula is the stress on flexibility, with respect to leases, space and services, thus allowing the facility to expand and contract to match the requirements of its tenants in varying economic conditions.

The Bank is the lender of record for the full 31.6 million Euros under an A/B loan structure. The EBRD is using its own funds to provide a 21.6 million A loan while the B portion of 10 million Euros has been syndicated to two Finnish commercial banks, Nordea Bank Finland Plc (7.7 million Euros) and Pohjola Bank Plc (2.3 million Euros).

The maturity of all these loans is five years. The borrower is OOO Technopolis St. Petersburg, which is wholly-owned by the Finnish-registered Technopolis Plc. Founded in 1982, Technopolis plays host to the largest technology chain in Europe -- with over 1200 companies based in its various facilities across the continent.