26 January 2010

Are perturbations waiting for the state Corporation?

"Rusnano" can replace "Rosinnovation"Evgeny Novikov, Vladimir Kozlovsky, Infox.ru
The volume of financing of Rusnano exceeds the level of development of nanotechnology, and the investment projects of Anatoly Chubais' company are beyond its competence.

The status and scope of work of the state corporation need to be reviewed. One of the options is the liquidation of Rusnano and the creation on its basis of a new state corporation Rosinnovation with broader powers. The alternative is the ultimate concentration on nanotechnology. Such conclusions are contained in the report of the National Institute for System Studies of Entrepreneurship Problems for the Ministry of Economic Development.

Rosnanotech is engaged not only in the support of nanotechnology, but also builds an industry–wide production chain - from the extraction of raw materials to final products, which goes beyond the goals originally set by the company, according to the report of NISIP prepared for the Ministry of Economic Development.

Elena Kovaleva, Head of the Corporate Communications Department of Rusnano, disagrees: "Absolutely all funded projects undergo scientific and technical expertise for compliance with the concept of nanotechnology," emphasizes Elena Kovaleva, Director of the External Communications Department of Rusnano. "However, with the approval of the supervisory and scientific and technical councils, the corporation has the right to finance the creation of the necessary auxiliary productions, although such projects are isolated."

"Nanotechnology is at the junction of a number of scientific branches, probably, the conclusions of the authors of the NISIP study are due to this," she suggested.

The authors of the report note that the average size of the project approved by the supervisory board of the state corporation is 2.5 billion rubles and continues to grow, although when creating Rosnanotech, it was assumed that the corporation would also deal with medium-sized enterprises.

Formally, the corporation's share in project financing is about 50%, which corresponds to the targets. The real share in monetary terms is significantly higher and reaches 90% for individual projects, since private partners contribute most of the intellectual property rights and other non-financial assets.

Despite the fact that the corporation was created for the development of the domestic nanoindustry, some of the approved projects are actually focused on the use of foreign technologies and components, the institute's experts continue.

Rosnanotech goes beyond the set tasks and limitations," the authors of the report say. The NISIPP proposes to clarify the positioning, areas of activity of the state corporation, as well as to make changes in the management system.

The consultants of the Ministry of Economic Development offer three options for positioning the state corporation: maximum concentration on nanotechnology (that is, a return to the originally set goals), activities for the development of a full cycle of production of final products in the nanoindustry and the transformation of Rosnanotech into Rosinnovation with the extension of activities to related nanotechnology innovation industries.

According to the first option, Rosnanotech should abandon financing projects in related industries, building industry production chains, and supporting foreign nanotechnologies, which should lead to a decrease in funding and the number of staff of the corporation.

The second option, in addition to the development of nanotechnology, provides for the production of raw materials and finished market products, which should increase the added value of products produced in the country. At the same time, the corporation's money will go both to finance the introduction of nano-developments into production, and to place the production of components inside the country.

The third option – the liquidation and creation of a new state corporation "Rosinnovation" – according to the experts of the NISIP, will allow Rosnanotech "more effectively than the authorities" to implement innovative projects not only in the nanoindustry, but also in other industries." According to the authors of the report, Rosnanotech is more efficient in reviewing projects, organizing their financing and will be able to ensure commercialization faster.

Experts consider the second option of Rosnanotech development to be appropriate. "The removal of restrictions on the development of the entire production chain – from the production of raw materials to finished products including nanocomponents – will help bring demand, supply and opportunities for the development of the nanoindustry to balance," the report says. Experts recommend postponing the issue of the transformation of Rosnanotech into Rosinnovation for 2012-2013. Elena Kovaleva does not rule out the possibility of such a transformation in the future. "But the issue has not been raised officially," she adds.

In their opinion, first of all it is necessary to change the order of management of the corporation. The authors of the report propose to ensure the independence of the members of the supervisory board and increase the role of representatives of executive authorities in it, as well as motivate management for the success of the "final result of the project". The current motivation system at Rosnanotech is designed in such a way that the activities of managing directors are aimed only at short-term results, expressed, in particular, in the number of approved projects and in their volumes, experts say.

Such indicators as the volume of sales of Russian nanoindustry products, the share of domestic products in the total volume of nanoindustry products sold on the global high-tech market, the volume of exports of nanoindustry products can now be estimated only on the basis of subjective data, complain the authors of the report. Therefore, they propose to develop a "detailed public reporting system that increases the control of the Rosnanotech State Corporation and funds and projects financed with its participation."

NISIP experts also note that Rosnanotech and a number of other institutions and programs for the development of innovation activities overlap areas of activity. Because of this, "there are risks of inefficient spending of public funds to solve the same problems." The authors of the report consider the most appropriate option in which Rusnano concentrates only on the function of the late-stage investment fund and the development of a network of venture and seed financing funds, and the development of the material and technical base of infrastructure facilities is carried out at the expense of state targeted programs.

According to the authors of the report, Rosnanotech should focus on financing only private firms, without extending its activities to state research institutes, design bureaus and universities.

According to the strategy of the state corporation's activities until 2020, grants can be provided from its profits. The NISIP considers it necessary to refuse to grant grants through Rosnanotech and establish that research and development work is funded only within the framework of investment projects of the corporation, and work not related to investment projects is funded under targeted programs or funds to support small enterprises.

Sergey Egishyants, Chief economist of the AI Invest investment company, is convinced that entrusting the development of the entire innovative economy of Russia to the head of Rusnano, Anatoly Chubais, is "far from the worst option." "The entire structure of the Russian economy and legislation, as well as the tax system and legal practice are categorically incompatible with systemic innovation as a continuous process," says the expert, "but in Chubais' structures, the share of kickbacks and bribes from allocated funds should be noticeably smaller than that of "effective" managers of the last generation."

Portal "Eternal youth" http://vechnayamolodost.ru26.01.2010

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