MARBC and Innovation Philadelphia Conclude 2nd Semi-Annual Russian-American Innovation Technology Week, Look Forward to 3rd Week in November 2005

Philadelphia, PA - The 2nd Semi-Annual Russian-American Innovation Technology Week concluded with great success on June 30, 2005. Mid-Atlantic - Russia Business Council and Innovation Philadelphia, organizers of the semi-annual weeks, have begun preparations for the 3rd RANIT, to be held from November 7- 15, 2005. The Semi-Annual Russian-American Innovation Technology Week (RANIT) is designed to bring together entrepreneurs, scientists, venture capitalists, and established corporations within the United States and Russian technology communities. Based on the remarkable success of the inaugural RANIT, and the evident potential for tremendous growth of this undertaking, the decision was made to expand the event and make it semi-annual. As a result, it now includes even greater numbers of seminars, panel discussions, round-table meetings, trade shows, conferences, and networking events. Russian delegations representing the best Russian technology companies take part in the various regional technology events of RANIT.

RANIT is supported by leading regional businesses and governmental organizations, including administrations of the City of Philadelphia, the Commonwealth of Pennsylvania, the States of New Jersey, Delaware and Maryland, as well as Mid-Atlantic regional organizations focusing on international business and technology development. John F. Street, the Mayor of Philadelphia, has officially proclaimed the Semi-Annual Russian-American Innovation Technology Week in Philadelphia.

"We are very pleased to host this event centered in the City of Philadelphia," said Richard Bendis, President and CEO of Innovation Philadelphia. Innovation Philadelphia is a public/private partnership initiative founded in 2001 by the City of Philadelphia, the Commonwealth of Pennsylvania, and private enterprises dedicated to increasing the Region's entrepreneurial capacity and positioning the Greater Philadelphia Region as a leader in the Global Innovation Economy. "With a strong foundation of both established and entrepreneurial businesses plus an academic base of over 80 colleges and universities, we are uniquely able to supply the innovation needed to keep technology businesses at the forefront of the industry. This is a region of growth and development and we look forward to collaborating with Russian technology companies in order to advance the Innovation Economy."

The 2nd Semi-Annual Russian-American Innovation Technology Week was opened in Philadelphia on June 18, 2005. The Russian delegation took part in several world-scale events, including BIO 2005 in Philadelphia and C3 Expo in New York.

One of the major focuses of the 2nd RANIT was biotechnology, a well developed industry with great potential for growth in Russia and a priority in MARBC efforts to strengthen Russian-American business relations. From June 19 - June 22, the Russian delegates took part in BIO 2005. This preeminent annual biotechnology convention included exhibitors representing 1,524 companies, government biotechnology centers, and other organizations from all 50 U.S. states and 56 foreign nations, as well as 180 information sessions and workshops on topics including industrial and environmental applications, finance, science, manufacturing, food and agriculture, vaccines and business development. Over the four days of the conference, 18,730 biotech executives, investors, journalists, policy makers and scientists visited the exhibitions.

On June 24, the MARBC jointly with the World Trade Center of Central Pennsylvania, hosted "Business Opportunities in Russia," a seminar in Harrisburg, PA discussing various issues relevant to successful business partnerships with Russia, including regulation, law, finance, and accounting matters. Several leading Pennsylvania companies shared stories about their successful business experiences in Russia.

The 2nd RANIT concluded at the Javits Convention Center in New York City with an extensive Russian program organized by the Mid-Atlantic - Russia Business Council at the Corporate and Channel Computing Expo 2005, one of the largest and most significant technology events in the U.S. An extensive Russian pavilion displayed information on the vast array of Russian science and technology capabilities, and on June 29 the Russian Conference presented a day of panels and presentations covering the most promising and pressing issues of Russian-American business and technology cooperation.

The Russian Conference at C3 Expo commenced with the kick-off seminar for the series "Russian Science and Technology Opportunities for U.S. Companies." Topics included funding for US-Russian commercial R&D projects, the legal environment for business in Russia, the emerging economic power of Russia, the development of the Russian information technology and telecommunications sectors, and specifics of doing business in Russia such as branding, service models, and outsourcing. Several panel discussions followed, in which prominent Russian technology companies, U.S. companies with significant technology transfer collaboration experience in Russia, Russia and NIS government officials, and representatives from the U.S. Department of Commerce BISNIS program spoke about the challenges and opportunities for U.S. businesses in Russia and the Newly Independent States, and Russian scientists presented a breaking innovation in the field of computer memory.

The 3rd Semi-Annual Russian-American Innovation Technology Week will open on November 7, 2005 at the National Constitution Center in Philadelphia. RANIT activities will include numerous round table seminars and panel discussions. Presentations by delegations from Russia regions, and by Russian and American World Trade Centers will also play an important role in sharing information about the Russian business environment. In addition, MARBC will organize Russian participation at the ITEC Conference in Valley Forge, PA from November 9-10, one of a prominent series of regional IT trade shows.

One of the major themes of the 3rd Semi-Annual Russian-American Innovation Technology week will be technology in education. The week will present multiple opportunities for furthering communication and cooperation between Russian and American universities, including a roundtable discussion with directors of technology transfer programs at Philadelphia area universities. A 40- member delegation of students and faculty from a MESI, a leading university in Russia in the field of distance education and e-learning, will arrive to participate in RANIT. Several panels and a roundtable discussion will also be held at the International Incubator in the University City Science Center and in the International House.

Alternative energy technology represents another major theme for the week, with events including a roundtable with the Deputy Secretary for the Office of Energy and Technology Development of the Pennsylvania Department of Environmental Protection. Other leading themes will include biotechnology, robotics, and safety and security technologies.

"The focus of Russian-American Technology Week is to help introduce Russian companies to the Mid-Atlantic Region's local technology business and venture capital communities," said Val Kogan, President of the Mid-Atlantic Russia Business Council. "The Semi-Annual Russian-American Technology Week will help match advanced Russian technology and engineering talents with American entrepreneurial and managerial skills. Many companies in the Mid-Atlantic region are finding Russian counterparts and are developing successful business ventures. We hope it will ultimately establish the Mid-Atlantic Region as a major partner for Russian technology companies and a premier center of Russian-American technology cooperation."

The 3rd Russian-American Innovation Technology Weeks will conclude the 10-year anniversary of the Mid-Atlantic - Russia Business Council and the 15-year anniversary of its longest Russian partner, the Moscow Entrepreneur Association.

For further details about the events of the 2nd Semi-Annual Russian-American Innovation Technology Weeks in 2005, or information about the planning of the 3rd RANIT in November, please contact Val Kogan, Mid-Atlantic-Russia Business Council, by phone: (215) 708-2628, email: val@ma-rbc.org, or visit the MARBC website at: http://www.ma-rbc.org.

About Innovation Philadelphia. Innovation Philadelphia is a public/private partnership created to expand the wealth and the workforce of the Greater Philadelphia Region's Innovation Economy by growing, attracting, retaining, and connecting technology-based businesses and workforce in the Region.

Innovation Philadelphia accomplishes this mission by providing technology-based and early-based businesses with traditional seed capital, access to alternative funding, skilled human capital, commercialization assistance, entrepreneurial resources, and intellectual capital.

About Mid-Atlantic - Russia Business Council. Since 1994, MARBC has worked to foster business relations between Russia and the Newly Independent States (NIS), and the U.S. Mid-Atlantic Region, while cultivating mutual appreciation of political, economic, cultural, and educational interests. Throughout the past ten years, the goal of MARBC has been to enable companies based in the U.S. Mid-Atlantic Region to enhance their positions in Russia and the NIS, and to attract Russian businesses to the U.S. Mid-Atlantic Region.