The Days of Russian-American Venture Industry Cooperation 2004

Philadelphia, PA - The Mid-Atlantic - Russia Business Council (MARBC) recently held the Days of Russian-American Venture Industry Cooperation, which took place in Philadelphia and the Mid-Atlantic region from October 25 - 29th, 2004. The Russian delegation in attendance featured government and industry executives from the Russian venture industry, including the Federal Agency for Science and Innovations, the Russian Venture Capital Association, and the Innovation Committee of the Moscow Entrepreneurs' Association. During these Days, the Russian delegation participated in a number of venture capital business events and learned about the U.S. venture industry. The events are an important part of the MARBC Program for Russian-American cooperation and development of the venture capital industry and technology parks.

The Days of Russian-American Venture Industry Cooperation opened with a welcoming ceremony in the Mayor's Reception Room in Philadelphia City Hall on October 25, 2004, where city officials will also proclaim the commencement of the Semi-Annual Russian-American Innovative Technology Weeks in 2005. On October 25th, a roundtable discussion was led by Richard Bendis, President and CEO of Innovation Philadelphia, and Kim McFadden, Regional Director of the Governor's Action Team of the Commonwealth of Pennsylvania. On October 26th, the Russian delegation met with Daniel Desmond, Deputy Secretary for the Pennsylvania Department of Environmental Protection, to discuss innovations in energy and environmental technology. On October 27th, the delegates participated in a meeting at the Science Center of Philadelphia, the oldest and largest urban American technopark. On October 28th the Russian delegation also participated in an "Exporting America" luncheon with Lou Dobbs, an anchor and managing editor of CNN. The final part of the Days was attendance at the Philadelphia Mayor's Commission on Technology Summit "e-Philadelphia" on October 29th.

As a crucial part of the Days' activities, the MARBC organized Russian participation in the Mid-Atlantic Venture Conference (MAVC), an event that highlighted the wide variety of investment opportunities in the Mid-Atlantic region. MAVC showcased the best young companies of the region and provided these companies with incomparable exposure to the region's top venture capitalists and private equity investors. The opening reception took place on October 25th, followed by the conference from October 26 - 27th. Companies introduced deal opportunities in both the life science and technology sectors. The conference featured a technology track, presenting companies in various technology areas, such as IT, nanotechnology, and telecommunications. The event also had record support from the Greater Philadelphia community: more than one hundred companies were Sponsors, and twenty non-profit organizations committed to being Supporting Organizations. The Mid-Atlantic - Russia Business Council organized a mini-pavilion at the MAVC that included information about the Russian venture industry and participants in the Russian delegation.

In addition, the Days' activities marked the beginning of celebration of 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.

"The focus of the Days of Russian-American Venture Industry Cooperation was to help introduce Russian companies to the Mid-Atlantic Region's local technology and venture capital communities," said Val Kogan, President of the Mid-Atlantic - Russia Business Council. "The event matched Russian technology and engineering talents with American entrepreneurial and managerial skills. These events are an important part of the MARBC Program for Russian-American cooperation and development of technology parks and the venture capital industry."

For information about the Days of Russian-American Venture Industry Cooperation, please contact Val Kogan, MARBC by phone: (215) 708-2628, email: val@ma-rbc.org, or visit our web page at www.ma-rbc.org