MANHASSET, N.Y. A business incubator will be established in Singapore to help Russian science projects find investors, according to reports by Russian news services.
According to Lee Yi Shyan, Singapore's Minister of State for Trade and Industry, "Russian scientists can use this incubator to present their projects to venture capitalists and ensure their introduction to the market."
Lee's comments came after a meeting with Russia's economics minister, German Gref.
Lee said Singapore's more than 7,000 transnational corporations along with access to at least $12 billion in venture capital will be tapped to promote Russian technologies.
Gref welcomed Singapore's promotion of Russia's special economic zone project in Yelabuga, in the Volga republic of Tatarstan, and called for more bilateral economic cooperation.