North West | Finance, business | Technology & innovation
RVC Infrafund and partner invest in St. Pete’s VChemTech incubator
16 Jan '14
The RVC Infrafund, an RVC investment arm to support infrastructure projects, has in partnership with Bargan Venture invested in VChemTech, a St. Pete-based incubator nurturing projects from St. Petersburg State Institute of Technology, the Russian Venture Company (RVC) website announced.
Any investment amount has yet to be specified.
The two partners’ investment will be used to improve project selection and development, promote the incubator’s innovation technologies, and link its residents up to potential customers.
The VChemTech business incubator focuses on projects in the fields of energy efficiency, IT and telecommunications, nanotechnologies, microelectronics, instrumentation, and biomedical devices.
“VChemTech is the RVC Infrafund’s first investment in a mechanism of technology commercialization in a Russian university whose core activity is doing fundamental research,” said Alexander Loktev, the CEO of the RVC Infrafund.