RUSNANO is an organization established by the Russian government in 2007 to develop nanotechnology in Russia. It aims to commercialize nanotechnology projects and innovations to reach $30 billion in annual nano-enabled product sales by 2015. RUSNANO provides financing for nanotechnology projects in areas like nanomaterials, nanoelectronics, and nanomedicine. It has approved over 90 projects worth $10 billion total across Russia. RUSNANO also works to attract foreign investment and partners with US companies on several joint projects in its portfolio worth over $1 billion. Its goal is to help modernize Russia's economy and transition to innovation-based growth through developing its nanotechnology sector.

1. RUSNANO: Fostering Innovations in Russia
through Nanotechnology
San Francisco
October 20-21, 2010
Anatoly Chubais,
Chief Executive Officer
USRBC's 18th Annual Meeting
"From Silicon Valley to Skolkovo: Forging Innovation Partnerships"

2. Page 2
Russian Economy:
Gap in innovations
0
2
4
6
8
10
12
14
16
0 10 20 30 40 50 60 70 80
GDP (purchasing power parity), $ trillion
Russia is ranked 7th-8th for
its GDP
and 73rd for its innovation
level
Innovation level (rated under WEF methodology)
Sources: World Economic Forum – The Global Competitiveness Report 2009-2010; IMF data

3. Page 3
1990-2020:
Milestones of initial development and further growth of Russian economy
1990-2000
Setting the base
for market economy
2000 – 2010
Raw materials export
dependent economic growth
2010 - 2020
New model of innovation-based
economic growth

4. Page 4
Russia’s Modernization: Main Policy Challenge

5.  Mission: to implement the state policy in the field of nanotechnologies
 Tasks:
o commercialization of nanotech industry projects and innovations
o production volume of Russian nano-enabled products by 2015 –
~ $30 bln per year
 Areas of financing:
o fabrication of nano-enabled products and materials
o foresight and road maps, standardization, certification,
o safety in nanotech industry
o education, popularization
 Founded in 2007
RUSNANO: Brief Overview
 Resources:
o Russian Federation’s asset contributions in RUSNANO: $4.5 bln
o State guaranteed debt financing (bonds issuance): $6.2 bln
o Investment proceeds: $4.6 bln
Page 5

6. Page 6
 Ownership participation — no more than 50% minus 1 share
 Investment horizon — up to 10 years
 Financing projects at early stage and stage of expansion
RUSNANO’s Terms of Financing

7. Page 7
RUSNANO: Support for Co-investors
Basic condition – location in Russia

8. USA is an evident leader
RUSNANO’s Requests for Financing
From Foreign Applicants
Page 8

9. Financial
infrastructure
Industrial
projects
Non- financial
infrastructure
Nanomaterials
Nanophotonics
Nanomedicine
Nanomaterial production
technologies and equipment
Nanoelectronics
Other
Nanotechnology CentersInvestment funds
Dubna (Moscow Region)
Zelenograd (Moscow Region)
Kazan (Tatarstan)
Tomsk and Novosibirsk
(West Siberia)
RUSNANO Capital
DFJ-VTB Aurora
Russian-Kazakh Fund
Metallurgy Fund
Skolkovo Fund
Perm Region Fund
North Region Fund
Investment Projects Types
Statistics as of 15.10.2010
Page 9

10. Investment Projects’ Clusters
Solar energy and energy conservation Nanostructured materials
Medicine and Biotechnology Nanocoatings
Infrastructure and EducationOptoelectronics and nanoelectronics
Page 10

11.  For its approved investments of $4.1 bln RUSNANO has attracted co-investors for
$6 bln (overall budget of projects – $10.1 bln)
 Consolidated revenue - 2015: from $7.5 billion (conservative scenario)
 Approved by the Supervisory Council: 94 projects in 30 Russian regions
RUSNANO’s Investment Projects: Summary
Page 11

12. 3
approved projects
with the total budget of
approx. $1 billion
(incl. approx. $270 million of
RUSNANO’s financing)
Clusters: nanomaterial production
technologies and equipment;
electronics; medicine
US-Russia Joint Projects
in RUSNANO Portfolio
Page 12

13. VC Trips to Russia, May and October 2010
Preliminary results
11
potential
joint projects
with the total budget of
approx. $1.2 billion
(incl. investment fund project of
up to $400 million)
Clusters: solar energy/energy
conservation; electronics; biotechnology
1st VC Trip to Russia,
May 25 – 27, 2010:
22 funds,
$60 bln under
management
2nd VC Trip to Russia, October
10-14, 2010:
15 funds,
$100 bln under
management
Page 13

14. Page 14
RUSNANO Plans: Timeline
 Additional major challenge:
IPO after RUSNANO transformation into a joint-stock company
2007 2008 2009 2010 2011 2012 2013 2014 2015
RUSNANO
transformation
into
a joint-stock
company
Debt financing via
open markets
started
Mass production in
project companies
started
Exit from projects
started
RUSNANO is
founded.
Government
makes
contribution
into the charter
capital
First project
is financed

15. Page 15
0,3
1,7
3,3
10
0,7
2,8
4,5
6,2
7,3
0,1
1,4
5,5
14,5
22,5
30
0
5
10
15
20
25
30
35
2010 2011 2012 2013 2014 2015
Sales of Russian nanoindustry products (target)
Incl. revenue of project companies
set up with participation of RUSNANO (target as of 2007 )
Incl. revenue of 93 projects
already approved by RUSNANO (adjusted forecast 2010 )
$ bln
Dynamics of the Russian Nanoindustry Market:
Target and forecast

16. What We Can Do Together
 Apply for financing of your project at www.rusnano.com
 Invest in joint project together with RUSNANO
 Further develop your technology with RUSNANO help
 Consider opportunities for portfolio companies expansion into Russia
 Encourage portfolio companies to apply for RUSNANO financing
 Encourage portfolio companies to cooperate with RUSNANO projects to achieve synergies:
o in accessing global product and finance markets
o in exits from projects (IPO or selling to a strategic investor)
 Co-investment
 Support in companies entry into the
Russian market
 Access to RUSNANO’s scientific and
technical expertise
 Joint creation of venture funds
RUSNANO offers
You could
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