Is Putin Pulling the Plug on Russian Nanotechnology?


By Dexter Johnson

Posted 27 Jun 2013 | 4:09 GMT

Russia’s generously funded and much ballyhooed nanotechnology initiative, Rusnano, has had its share of intrigue and certainly many detractors since its launch, not the least of which have been the leaders of the government, such as former president Dmitry Medvedev. But still it managed to continue on and seemed to be tracking fairly well with reported revenues of $300 million for 2011.

Just when it seemed Russia had found a shortcut into the nanotechnology arms race that has developed over the last decade and was sweeping up all the discarded nanotechnology companies that had run aground on the rocks of capitalism, Russian President Vladimir Putin last month looked to be sacrificing both Rusnano and another technology project Skolkovo—an attempt to build a Silicon Valley outside of Moscow—to  solidify his political aims.

As reported in last month’s Bloomberg, Putin was coming down hard on these two technology initiatives to project that he was tough on corruption and mismanagement of public funds.