OREANDA-NEWS. December 2, 2011. In the course of the Second Annual Forum “Small and Medium-Sized Enterprises – Contribution to the New Economy” State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and the Russian Technological Development Fund entered into a Memorandum of Strategic Partnership and Cooperation.

On behalf of Vnesheconombank the Memorandum was signed by Board Member – Vnesheconombank Deputy Chairman Mikhail Kopeikin and on behalf of the Russian Technological Development Fund – by its Director Mikhail Rogachev.

The parties agreed to develop instruments of financial and non-financial support for SMEs that are implementing innovation, modernization and energy efficiency projects including at research and developmet stages, and ensure continuous funding of SME innovation projects among other things under the Agreement on Cooperation between Development Institutions in Ensuring Continuous Funding of Innovation Projects, participate in operating technological platforms as well as provide expert, consulting and engineering support for projects aimed at developing and introducing innovations.

Strategic partnership and long-term cooperation between the parties aim to support and participate in pursuing the government policy of the Russia’s economy scientific and technological development, help to formulate a balanced and sustainable national system of financial support for projects and programs in top-priority scientific and technological sectors.

The Russian Technological Development Fund was set up to assist in pursuing government policy in research-technological and innovation activity. The Fund provides financial and consulting assistance in implementing research and technological projects and experimental developments including within international research and technological cooperation. The Fund is responsible for coordinating the most important and integration projects with the participation of medium and big private businesses, professional groups of developers and small innovation enterprises as part of technological platforms. The Fund is responsible for conducting research-technological, legal, financial-economic examination of research and technological projects and experimental developments and it also funds promising R & D on the basis of loans. The Fund is cooperating with educational institutions providing support for their participation in implementing research and technological projects as well as their efforts to improve curricula.