Russia to support advanced tech, extra funding approved | Volga, Finance, business

Central regions | Finance, business | Technology & innovation

Russia to support advanced tech, extra funding approved

2 Dec '16
The Bortnik Fund, Russia’s oldest government fund to support early-stage tech projects, has received an additional $30m from federal coffers to back domestic projects picked as part of Russia’s National Technology Initiative (NTI), the long-term federal program aimed at delivering breakthrough results in most advanced technology areas, including brand new disruptive fields of knowledge for which demand may be cultivated from scratch, portal reported.

A reported 130 projects have been picked, with each expecting about $230,000 for R&D from the fund’s programs by the end of this year. Before the new allocation came, the fund was reported to have a total of $136m to finance the programs.

Areas to be supported include: “Aeronet” (drones and small spacecraft); “Neuronet” (human-machine neurotech-based interfaces); “Autonet” (autonomous driving and automotive smart systems); “Marinet” (digital navigation, innovative oceanic exploration techniques and next gen shipbuilding); and “Energynet” (systems and services for smart energy). The first two may each expect to receive $6.8m, with just under $6m allocated for each of the remaining three areas.