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(Nanowerk News) The head of the Russian State Nanotechnology Corporation (Rusnano), Anatoly Chubais, urged Russian angel investors on Thursday to put funds into regional nanotechnology projects.
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Angel investors are investors who put their own personal money into new projects at the early stages for a share of subsequent profits. The size of angel investments usually ranges from several thousand dollars to one million euros.
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The head of the Russian State Nanotechnology Corporation (Rusnano), Anatoly Chubais.
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"It will sound cynical, but we would like to use you," Chubais told the annual meeting of the Business Angels Association in Moscow.
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He pledged political and financial support to those investing in nanotech startups. Rusnano wants the size of Russian nanotechnology market to reach $30 billion by 2015.
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Russia was ranked 63rd in global innovation level in the World Economic Forum's Global Competitiveness report for 2010-2011, with Switzerland topping the list.
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