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Belarus, Russia, Kazakhstan set up EurAsEC venture company

The venture company’s charter capital is formed in equal shares

MINSK, April 4 (Itar-Tass) – Belarus, Russia and Kazakhstan have set up a venture company of the Eurasian Economic Community.

Minsk hosted the signing of the founding documents of the venture company EurAsEC Innovation Technologies Center.

The venture company’s charter capital is formed in equal shares – 30 million roubles from Russian Venture Company, Kazakhstan’s National Agency for Technological development and Belarussian Innovation Fund.

“The decision taken by the three countries’ presidents is of great importance,” the chairman of the Belarussian science and technologies committee, Igor Voitov, said. “This is the first venture sign that will help innovation organizations to consolidate their financial resources to implement promising projects in high technologies.”

The venture company will act as “a crystallizer of promising large-scale interstate projects and ideas,” he said.

On Thursday the venture company also announced a contest for innovation projects on the territories of Belarus, Russia and Kazakhstan it will finance.

Belarus, in particular, showcased five promising projects in new materials, nanocarbons and powder metallurgy to be included in the venture company’s plan of actions.

In the future there can be 15 projects worth approximately 50 million U.S. dollars.

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