VEB and Rostec Announce Launch of NPO Konversia

During the 8th INNOPROM-2017 International Industrial Exhibition, VEB and Rostec told the Russian President Vladimir Putin about the mission and objectives of NPO Konversia. Set up by VEB in cooperation with the Rostec State Corporation, the NPO Konversia Agency is designed to promote high-technology civil and dual-use goods produced by defense manufacturers in the Russian and global markets.

“The Agency serves as a link between defense manufacturers and VEB ‘smart money’, and as a tool for project preparation and delivery. VEB is creating a practical IT-platform for defense manufacturers to provide information about their products and for customers to obtain and promptly use it in their procurements. Capturing the most recent global technology trends, this marketplace will ensure that the procurement process takes place in strict compliance with the law,” pointed out Vnesheconombank’s Chairman Sergey Gorkov.

“For Rostec, INNOPROM-2017 marked the launch of a flagship project, NPO Konversia. The Exhibition envisages a number of meetings with manufacturers to identify promising projects and products as part of the defense sector diversification. Here we speak not only of high-potential serial products but also experimental development solutions. We aim to expand this list, and invite companies to cooperation,” said Sergey Chemezov, Rostec’s CEO. “NPO Konversia is to become a one-stop shop allowing an access to a package of services at every project stage, from the business idea to financing pre-development and investment project stages, with subsequent sales support including export sales.”

Furthermore, NPO Konversia will assist project initiators with their applications for state support.

NPO Konversia has been already selecting projects in the following high-profile sectors:

  • Smart City as part of the Russia’s Digital Economy programme;
  • Medical engineering and equipment;
  • Environmental solutions;
  • Power engineering;
  • Information and communication technologies;
  • Civil engineering.

Project selection criteria. Today, NPO Konversia has completed its primary analysis of the markets and proceeded to the selection and preparation of pilot projects in certain strategic areas. NPO Konversia gives priority to rapidly growing high-volume markets that are technologically-compliant with defense industry standards. Other key project selection criteria include the possibility to engage several defense industry enterprises, high import-substitution potential, access to new markets, and technological and price advantage.

The Agency is developing consulting and training programs and services to help defense industry enterprises engage and motivate their key personnel, and to lay the groundwork for project preparation and delivery in future.

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