The Joint-Stock Company Promsvyazbank (JSC PSB) signed a cooperation agreement today with Ural Federal University to support small- and medium-sized enterprises engaged in scientific research and innovation at the school.
JSC PSB is one of Russia's largest privately owned banks.
As part of the agreement, it will provide financial support to scientific innovation projects at the school as well as help create joint educational and training programs for students.
"Our cooperation will be a new step toward the creation of a regional system of the Sverdlovsk region seed and venture funding,” Sergei Kortov, the vice-rector of innovations at Ural Federal University, said. “These investments give innovators the opportunity to ... refine prototypes to real industrial products and technologies."
JSC PSB representatives are equally excited about the agreement.
"As one of the points of growth, we have set ourselves in support of the priority areas for the Russian economy: innovation and high technology, modernization of production, energy efficiency, the introduction of resource-saving technologies, the development of non-trade sector, the focus on the interaction directly with small and medium-sized businesses,” Evgeny Pavlov, head of the Ural branch of the bank, said.