SV Announces Collaboration with IFTI

10-Oct-06

Starboard Ventures announces collaboration with IFTI

Starboard Ventures LLC is pleased to announce that it has entered into an agreement with the International Foundation of Technology and Investment (IFTI), a Russian organization that is a leader in commercializing technologies originated in Russia.

Under the terms of the agreement, Starboard Ventures and IFTI will work together to jointly develop technology commercialization projects and also collaborate on additional projects related to the development of, and investment in, Russian technologies.

“It’s an exciting time to be working in the field of high technology in Russia,” observes Daniel Considine, president of Starboard Ventures. “The Russian government is committed to encouraging the growth of emerging high-technology companies, a commitment that is backed by its intention to make venture investments through the recently formed Russian Venture Company. By creating a strategic alliance with IFTI, Starboard Ventures has expanded its presence in Russia and established an excellent platform to play an even more active role in bringing cutting-edge technologies into the global market.”

About IFTI

The International Foundation of Technology and Investment is a non-governmental organization that facilitates cooperation between Russian scientists and the global scientific and business communities, which includes identifying the most innovative technologies developed by Russian scientists and promoting these technologies to international companies. IFTI has entered into bilateral agreements, and has a close working relationship, with various state and governmental organizations, including the Russian Academy of Sciences, the Russian Ministry of Industry, Science & Technology, the Russian Ministry of Atomic Energy, and the Russian Academy of Medical Sciences. Since 2001, IFTI has carried out more than 200 scientific and research projects, and at present is engaged in approximately 60 research grant projects as well as several projects aimed at starting up the production of innovative materials and devices. For more information, visit the IFTI website at www.ifti.ru or email adm@ifti.ru.

About Starboard Ventures

Starboard Ventures LLC is a management firm that specializes in commercializing technologies from Central and Eastern Europe and Eurasia. The firm works with scientists, engineers and NGOs to identify and qualify new technologies, manages new companies through their organizational stage and early start-up stage, and seeks to develop permanent management teams to see companies through to success. For more information, visit the Starboard Ventures website at www.starboardventuresllc.com or email info@starboardventuresllc.com.