Anatoly Chubais Took Part in Panel Session The Big Challenges in Promoting Scientific Development at SPIEF 2016

16 June 2016

Chairman of the Executive Board of RUSNANO Management Company Anatoly Chubais spoke at the panel session The Big Challenges in Promoting Scientific Development that took place as part of the business program of the annual St. Petersburg International Economic Forum (SPIEF).

During his speech, Anatoly Chubais described the various stages of venture project financing and shared his experience related to the difficulties in relations between the investor and the financed company. He also noted the importance of the development of the innovative economy in Russia.

Chairman of the Executive Board of MC RUSNANO Anatoly Chubais: “Due to the fact that we built up the market economy itself from scratch, it has been vital to create an innovative economy in Russia as well. Yet it cannot be built on Soviet principles, if the whole economy in essence is a market economy. In this sense, we are lagging behind a little, but since 2005-2006, we have started to create this very innovative economy, without which there would be no demand for science. Much has been done and, despite continuous criticism, we can see the results of these efforts. However, the most important element is still lacking—the real interest of private business in the development of an innovative economy. We have already covered half the ground, and if we manage to cover the rest, we will have a real, well-founded, external demand for science.”

The panelists were: President of the Russian Academy of Sciences Vladimir Fortov, President of Skoltech Alexander Kuleshov, Chairman of the Scientific publishing house Elsevier B.V. Yonsuk Chi, Chairman of the Scientific Coordination Council of FASO Russia Yuri Balega, Professor of the University of Wisconsin-Madison (USA) Steven Durlauf, Vice President and General Manager in Central and Eastern Europe, IBM Corporation Michel Charouk, President of the Kurchatov Institute Mikhail Kovalchuk. The moderator of the session was Aide to the President of the Russian Federation Andrei Fursenko.

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The Limited Liability Company Management Company RUSNANO was founded in December 2013 as part of the implementation of the Strategy of JSC RUSNANO until 2020 that provides for the management of the investment portfolio of the company and formation of new nanotechnology investment funds.

The Chairman of the Executive Board of Management Company RUSNANO LLC is Anatoly Chubais.