South Korea, Russia, and Singapore have entered into a cooperation agreement for the advancement of nanotechnology.
A memorandum of understanding signed during the 2011 St. Petersburg International Economic Forum widens the scope for investment in the Asia Nanotechnology Fund, which was launched by the Russian Corporation of Nanotechnology (RUSNANO) last September in collaboration with the Singapore-based investment group 360ip and the Singaporean Economic Development Board (EDB).
The nanotechnology cooperation fund is anticipated to begin with an initial investment of $100 million. It will support all nanotechnology-related projects in their expansion and growth and a portion of the funds are allocated for nanotechnology-related projects in the beginning stages.
RUSNANO CEO and chairman, Anatoly Chubais stated that the partnership will aid in promoting Russia’s advanced technology products in the global market.
The Deputy Managing Director of EDB, Choon Shian Tan, mentioned that the Asia Nanotechnology Fund has got new investors following the Memorandum of Understanding signed between 360ip, RUSNANO, and EDB last year.
Source: http://news.xinhuanet.com/