Successes and Difficulties of Small Innovative Firms in Russian Nuclear Cities Proceedings of a Russian-American Workshop (2002) / Chapter Skim
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Development of Small Innovative Companies in Sarov to Serve the Russian Market
Development of Small Innovative Companies in Sarov to Serve the Russian Market
Pages 57-67
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From page 57... ...
All-Russian Scientific-Research Institute of Experimental Physics This paper discusses practical experience amassed mainly since 1996 in the development of small innovative companies in the city of Sarov (formerly Arzamas-16~. The city is the site of an important research and production center, the Russian Federal Nuclear Center All-Russian Scientific-Research Institute of Experimental Physics (VNIIEF)
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From page 58... ...
By studying the physical and chemical properties of metals and modeling the various technological processes involved, the company is attempting to create items with preestablished mechanical durability characteristics. The items are treated over different temperature and pressure ranges using vacuum technologies.
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In particular, it produced a special emergency squad vehicle based on the "Gazelle" to serve the needs of the Russian Ministry for Emergency Situations. The technopark is also preparing to produce vehicles to collect and purify sulfur hexafluoride gas, which is used as an insulator in high-voltage switches.
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This enterprise employs specialists from the VNIIEF laser division. Besides making highly pure gases, the company has also begun producing special tanks that ensure the stability of the gas mixtures during transportation and storage.
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In 2000 an innovative technology center was established under the auspices of VNIIEF-Conversion. Its main purpose is to develop funding for investment projects using its own means and attracting funds from other sources (international foundations, state financing)
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Otherwise, bankruptcy awaits them. In this regard, an incubator plays an extremely significant role in enhancing the viability of new companies in the following ways: · consulting at flexible rates · monitoring company activities · providing access to additional resources The main difficulties new companies encounter and the typical mistakes they make are as follows: · poor knowledge of the market in which they need to sell their products tiveness · low consumer qualities of products and, as a result, low competi· insufficient funding due to errors in business planning · poor management · lack of access to suitable funding sources (lack of collateral)
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Income exceeded expenditures, and the company paid off the expensive loan and even returned all investments by the end of its third year of operations. Notably, this is the only mobile communications project in Russia with 100 percent Russian capital.
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In the project dealing with road-laying machinery, which requires rather long-term funding due to specification processes and the related major testing program, there are a number of difficulties that are substantially slowing the pace of development efforts. An analysis of many projects performed by the Economic Department of VNIIEF-Conversion, both within the incubator structure and on other projects, revealed that business planning mistakes connected with insufficient estimates of required funding (investment resources)
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The experience gained in developing small innovative companies to serve the Russian market indicates a need for creating truly self-sustaining incubators, in order to address regional development needs. To make an innovation project successful, the following elements are necessary: · monitoring of company activities, not only to provide a certain control over the honesty of the company director but also to facilitate analysis of the reasons for nonprofitability and to ensure that corrections are made in a timely fashion · detailed business planning and independent expert assessment (of a real and not merely formal nature)
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