The Mid-Atlantic - Russia Business Council and Innovation Philadelphia will host the 5th Russian-American Innovation Technology Week from November 13-19, 2006. The Semi-Annual Russian-American Innovation Technology Week (RANIT) is designed to bring together entrepreneurs, scientists, venture capitalists, and established corporations within the United States and Russian technology communities. Based on the success of past events, RANIT is now held twice a year, and it includes an even greater number of regional technology events, seminars, panel discussions, roundtable meetings, trade shows, conferences, and networking events.

RANIT is supported by leading regional businesses and governmental organizations, including the 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 focusing on international business and technology development. John F. Street, the Mayor of Philadelphia, has officially proclaimed the Semi-Annual Russian-American Innovation Technology Week in Philadelphia.

"We are very pleased to host this event centered in the City of Philadelphia," said Richard Bendis, President and CEO of Innovation Philadelphia. Innovation Philadelphia is 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 5^th Semi-Annual Russian-American Innovation Technology Week will formally open on November 13. The 5^th Semi-Annual Russian-American Innovation Technology Week includes a particular focus on technology in education and information technology. Alternative energy technology, robotics, chemical engineering, safety and security technologies, venture capital, and entrepreneurship are also key themes. Following the opening ceremonies, the 6^th Biennial Russian-American Business Opportunities Symposium will be held. Taking place within the framework of the 5^th RANIT, the Symposium will include discussions on the challenges of doing business in Russia and opportunities in specific industry sectors. Presentations by delegations from Russian regions and by Russian and American World Trade Centers will also play an important role in sharing information about the Russian business environment.

Monday, November 13 will also be the opening of the RANIT-associated program on technology in education organized by MARBC. The program will present multiple opportunities for furthering communication and cooperation between Russian and American universities, including a roundtable discussion with the directors of technology transfer programs from Philadelphia area universities. One of the principal events will be the 2^nd Russian-American Technology Entrepreneurship Conference.

Another main event of the 5^th RANIT will be an extensive MARBC-organized Russian program at Philadelphia ITEC on November 15-16, 2006. The Philadelphia ITEC is part of the nation’s largest series of regional business technology events for IT and business professionals, featuring a combination of national vendors and local suppliers, and a conference program with seminars on the hottest issues in information technology. The Mid-Atlantic - Russia Business Council will organize the participation of Russian companies in the exhibition and will also present panel discussions highlighting Russian information technology capabilities and other topics related to Russian technology and business.

Additional events during the 5^th Russian - American Innovation Technology Week will include visits and roundtables at the International House and the International Incubator at the University City Science Center. The week will continue with visits to other states in the Mid-Atlantic region, and will end with the final reception at the Pyramid Club in Philadelphia.

"The focus of the Russian-American Innovation 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 talent 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. "

For further details about the Semi-Annual Russian-American Innovation Technology Weeks in 2006, 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 grow 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-stage businesses with traditional seed capital, access to alternative funding, skilled human capital, commercialization assistance, entrepreneurial resources, and intellectual capital.

About the 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 eleven 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.

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