Three state-owned financial organizations – the Russian Venture Company (RVC), Vnesheconombank (VEB) and the Fund of Infrastructure and Educational Programs of Rusnano – have joined with the International Bank for Reconstruction and Development (IBRD) in signing a memorandum of understanding to create an online database for innovative projects across the country, the RIA Novosti agency reported earlier this month.
The project aims to “foster innovation-led growth” based on federal and regional policies: not only will the database allow users to monitor and spread information on innovation activity in Russian regions, it will serve as an instrument for the planning and implementation of regional innovation strategies.
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