OREANDA-NEWS. September 10, 2010. A regular meeting of the Working Group on Implementing the Agreement on Cooperation of Development Institutions in Continuous Financing of Innovation Projects was held at Vnesheconombank. The meeting was chaired by Management Board Member – Vnesheconombank Deputy Chairman Mikhail Kopeikin.

The meeting’s participants considered 7 innovation projects submitted by the Federal Agency on Youth Affairs and the Fund for the Development of Small and Medium-Sized Enterprises in the Scientific and Technical Sphere:
"The Technology of monitoring parameters of gravitation and wave fields for earthquake advance warning";
"Upgrading of technology for cryogenic grinding of natural plant and animal raw materials for producing biologically enriched health and dietary food products";
"Development of technology and setup for production of heat-resistant, highly reliable  and wear resistant turbine rotor and nozzle blades for foreign-made gas turbine engines and gas-compressor units";
"Effective coating of pipe metal on the basis of low-molecular oligodien";
"FIDESYS strength analysis packages";
"Setup for production of a new self-locking automatic mechanical differential";
"Production of multifunctional automated SmartDesks".

Having discussed the projects, the meeting’s participants decided to explore the possibility of financing the projects submitted by the Fund for the Development of Small and Medium-Sized Enterprises in the Scientific and Technical Sphere with the use of the Russian Venture Company’s Seed Investment Fund’s monetary resources.

The Project "FIDESYS strength analysis packages" submitted by the Federal Agency on Youth Affairs is to be sent to the Russian Venture Company for expert’s examination. A number of projects of the Federal Agency on Youth Affairs, which need their R&D to be funded, will be submitted for consideration to the Fund for the Development of Small and Medium-Sized Enterprises in the Scientific and Technical Sphere.

The meeting heard out the information of the Working Group’s members on the progress of implementing  innovation projects approved by the Working Group’s previous meetings.

The Working Group was established in order to implement the Agreement on Cooperation of Development Institutions in Continuous Financing of Innovation Projects, which was worked out on Vnesheconombank’s initiative and signed in April of 2010. The Agreement aims to organize cooperation between the parties in determining innovation companies’ needs and provide these companies with instruments, services  and conditions for their effective activity on implementing innovation projects on the territory of the Russian Federation and the global market.

The Working Group is comprised of representatives of state financial development institutions (Vnesheconombank, Rusnano, the Russian Venture Company, the Russian Development Bank, the Fund for the Development of Small and Medium-Sized Enterprises in the Scientific and Technical Sphere), as well as the Moscow Interbank Currency Exchange, non-government organizations (OPORA ROSSII, the Russian Venture Investment Association) and the Federal Agency on Youth Affairs.