Russia Will Now Track its own Nanotechnology

According to news sources, with a goal set for the year 2015, Rusnano has come to the aid of the Russian economy in its need to diversify by helping Russian companies corner 3% of the nanotechnology market. For those in the know or the not sure, nanotechnology broadly refers to any innovations that work on a scale of nanometers, or one-billionth of a meter.

In the words of Anatoly Chubais, the state corporation's chief:

“Right now, no one in Russia even knows how much nanotechnology production there is. Last year alone, the country produced 4 billion rubles ( $120 million dollars ) to 20 billion rubles ($589 million dollars) worth of nanotechnology equipment and materials. My expectations are really fuzzy. My company is planning to cut its payroll by 17% this year in an effort to reduce costs by 500 million rubles. It doesn't matter what the starting point is. The main thing is to agree on what and how to count.”

Established in July of 2007, Rusnano is a state-run company whose sole purpose is to nourish the development of nanotechnology globally by creating a place for worldwide discussion and to strengthen Russia’s foothold in the burgeoning field of nanotechnology-based products. Its priority is the commercialization of nanotechnology projects with high business potential and/or social benefit.

From 2009 to 2016, Rusnano will represent Russia in an international project involving the construction of an x-ray Free Electron Laser in Germany to which it has already contributed a total of 250 million euros ($330 million dollars). In exchange, according to Chubais, Rusnano will receive a stake in the laser's management company.

According to Alexander Losyukov, vice chairman for international cooperation at Rusnano:

“To assist potential partners in developing nanotechnology projects, Rusnano is offering low interest rates on the condition that part of any subsequent production is carried out in Russia.”

Rusnano, the world awaits your findings.