The ISTC signed a Memorandum of Cooperation (MoC) with the FASIE

On March 21, the ISTC signed a Memorandum of Cooperation (MoC) with the FASIE, also known as the Bortnik Fund, a non-commercial State organization set up by the Russian Government to implement national policy in support of small innovative enterprises (SME). The MoC provides a legal framework for joint actions aimed at commercialization of technologies developed by Russian ISTC beneficiary science teams.

Ms. Laura Schmidt Williams, ISTC Deputy Executive Director for Partnering & Sustainability, commented: “This MoC gives new impetus to ISTC’s Commercialization Support Programme through a direct conjunction between ISTC’s efforts to create sustainable jobs for former weapon scientists and the national Russian science priority areas. With FASIE having an in-depth knowledge of the challenges for Russian scientists when it comes to starting a new business, the ISTC will be able to target the support we can give more efficiently and we expect to see more immediate results and successes.”

Since 1994, the FASIE has accumulated a wealth of experience through its support for up to 2,000 projects in Russia. FASIE activities include direct financial and expert assistance to small innovative enterprises, implementing projects to produce new high-tech products, creating and developing infrastructure for SMEs, and providing marketing and consulting support to Russian enterprises. FASIE closely cooperates with foreign partners, including the Tacis program, Eurasia Foundation, British Council, as well as the UK’s Department of Trade and Industry, foundations in France (ANVAR), U.S. (CRDF), and others. A good example of academic cooperation between FASIE and other organizations was the selection of the UMNIK competition winners at a joint UK / EU and ISTC Stem Cells event held in Moscow during March 2007. A selection panel made up of representatives from the ISTC, British Council and headed by the FASIE Executive Director, Prof. Ivan Bortnik, awarded 3 young researchers, who presented their innovative ideas in the stem cells area, financial support to develop their ideas. 

The signed Memorandum will streamline joint efforts to support promising technologies in Russia, and is expected to add considerable value to the commercialization programs currently offered both organizations. 

Further details on the ISTC Commercialization Program can be obtained from Tim Murray.
murray@istc.ru

Prof. Ivan Bortnik, FASIE Executive Director and Dr. Tatiana Gremyakova, ISTC Chief Science Coordinator during selection of UMNIK competition winner