OREANDA-NEWS. November 10, 2011. The MICEX and Ernst & Young (CIS) BV have signed an agreement on cooperation in the development of the MICEX Market for Innovations and Investments (MICEX MII).

Cooperation between the MICEX and Ernst & Young is aimed at developing joint projects to support innovation companies, including the development of advisory programs and recommendations for improving corporate governance in innovation companies. It is also intended to organize joint events aimed at spreading information about the opportunities offered by MICEX RII and RII-Board.

One of the areas of cooperation will be the nomination of candidates of innovation companies that are preparing to place or have already placed their securities in the MICEX MII and MII-Board for participation in the Russian stage of the international contest “Entrepreneur of the Year.”

The nearest plans include joint preparation of a comprehensive program of support and development of companies of the MICEX RII and companies-candidates for the MICEX MII, using the possibilities of Ernst & Young.

The joint work of the parties is designed to effectively prepare innovation companies for entering the public market.

“The project aims at developing the market for innovations and investments, helping companies to better prepare for frequent and public placements. An important part of our cooperation is the participation of the heads of such companies in the Russian stage of Ernst & Young’s international contest “Entrepreneur of the Year”, said Alexander Ivlev, Managing Partner of Ernst & Young in Russia.

The MICEX President Ruben Aganbegyan said: “Today it is very important to prepare innovation companies to going public. This task includes consulting and assistance in the organization of internal processes of management of the company. Ernst & Young has a long history of this kind of work and we hope that in the near future our cooperation will have tangible effect on the MICEX MII. We hope that soon the MICEX will be able to involve a wide range of consulting and auditing companies in this cooperation.”