Roselectronica invests $35m in innovation development

Russia’s Roselectronica, the umbrella company for national electronics makers, is expected to invest more than $35m in its companies’ innovation development between now and 2016, Nanonewsnet.ru reported

The investment will reportedly be funneled into the setup and development of high-tech production facilities that would use Russian-made components, a measure expected to reduce the end cost of products by an estimated 20-27%.

The current investment program will consist of two major parts. One will include the introduction of advanced technologies and the setup of production of civilian products based on the technologies. The other will call for the launch of the commercial-scale manufacture of innovative products.

At stage 1, Roselectronica wants to create necessary infrastructure, including a virtual business incubator, techno-parks, funds to finance R&D and projects, tech transfer centers, and special auditors for the sector. Stage 2 is expected to foster exports of domestic innovation products.

The innovation support program aims to develop globally competitive technologies, products and services across Roselectronica’s companies and boost the holding’s investment attractiveness, Roselectronica emphasized.