CONCLUSIONS
The vast financial resources available to the Russian Corporation of Nanotechnologies represent its most significant competitive advantage. However, having money is not enough for the corporation to be able to effectively achieve its mission.
Internally, RUSNANO will need to reform itself and revise its project review process to make it more convenient for applicant firms to pitch their technology projects to the corporation. Currently, the time and money needed for the application can be very significant. Furthermore, RUSNANO would greatly benefit from broadening its focus from strictly nanotech to a larger array of technologies.
The biggest challenges for the corporation are external. Establishing a nanotech sector that requires sophisticated state-of-the-art infrastructure is by no means an easy task, even for countries with developed support systems in place. With little existing infrastructure for high-tech development in Russia in general, RUSNANO’s challenge is that much more significant as none of the key components of this system is sufficiently developed in the Russian Federation: there are not enough technology businesses, entrepreneurship is an unpopular career, qualified human resources suitable for work in high-tech are scarce and expensive, and basic support infrastructure such as roads and material suppliers are still insufficiently developed. Adding skepticism and lack of social support for modernization to an unstable and unreliable legal system and less-than-effective corporate law system makes the operating environment of RUSNANO quite restrictive. The corporation is therefore bound to engage in more political and legislative reform in Russia, and unless it is able to benefit from a substantial change in the legal and business environment, RUSNANO runs a great risk of failing to attain its targets
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