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

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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 Firrma.ru 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.