Philadelphia, PA - The Mid-Atlantic - Russia Business Council and Innovation Philadelphia will host the 2nd Semi-Annual Russian-American Innovation Technology Week (RANIT) in the Mid-Atlantic States beginning June 18, 2005, and the 3rd RANIT beginning November 7, 2005. The Semi-Annual Russian-American Innovation Technology Week 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 will now include even greater numbers of seminars, panel discussions, round-table meetings, trade shows, conferences, and networking events. Russian delegations representing the best Russian technology companies will take part in the various regional technology events of RANIT.

City of Philadelphia Proclamation for Semi-Annual Russian-American Innovation Technology Weeks

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 focused on international business and technology development. John F. Street, the Mayor of Philadelphia, officially proclaimed the Semi-Annual Russian-American Innovation Technology Week in Philadelphia.

The long tradition of innovation in the City of Philadelphia includes the University of Pennsylvania - birthplace of the ENIAC - the world's first electronic, large-scale, general-purpose digital computer; and the University City Science Center, the oldest and largest urban technopark, which is owned by a consortium of 30 academic and scientific institutions. The University City Science Center, which celebrate its 40th anniversary this year, is the incubator of many flourishing, technology-based businesses.

"We are very pleased to host this event in the City of Philadelphia," said Richard Bendis, president and CEO of Innovation Philadelphia, 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 will open in Philadelphia, on June 18, 2005. The Russian delegation will take part in several world-scale events, including BIO 2005 Exhibition, a preeminent biotechnology convention with an expected 20,000 biotechnology and life sciences professionals and top leaders from organizations around the world coming together to highlight the future of biotechnology. Early Stage East 2005 and 26th Annual National Educational Computing Conference are planned among other important events of the Week. The 2nd RANIT will conclude with an extensive Russian program organized by the Mid-Atlantic - Russia Business Council at Corporate and Channel Computing Expo 2005, one of the biggest and most significant technology event in the U.S.

The 3rd Semi-Annual Russian-American Innovation Technology Week will open at the National Constitution Center in Philadelphia on November 7, 2005. As a part of the RANIT activities, MARBC organizes Russian participation in a number of conferences and trade shows, including the Mid-Atlantic Venture Conference (MAVC), an event highlighting the wide variety of investment opportunities in the Mid-Atlantic region, ITEC and the premier event of the year for the Eastern Technology Council. In addition to other events during the week, the Russian delegation will have roundtable with directors of technology transfer programs from universities around the City of Philadelphia. The 3rd RANIT will conclude with several panels and a roundtable at the International Incubator in the Science Center.

"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 2nd and 3rd Russian-American Innovation Technology Weeks will also mark the 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. These events will feature celebrations of the first Russian technology company establishing an office in the Science Center in Philadelphia and creation of the Russian-American Innovation Development Program. As a result of the Inaugural Russian-American Innovation Technology Week, several Russian technological companies are considering the Science Center incubator as a starting platform for developing their businesses in the U.S. and are planning to open representations in the Science Center in 2005.

For information about the Semi-Annual Russian-American Innovation Technology Weeks in 2005, 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.