FEFU and Primorsky Krai government to boost tech entrepreneurship in the region

The Far Eastern Federal University (FEFU) and the Primorsky Krai Government will join forces to develop the technological entrepreneurship ecosystem and support innovative projects in the region. FEFU President Boris Korobets and Vera Shcherbina, First Vice-Governor and Chairman of the Primorsky Krai Government, signed the agreement on September 3 at the anniversary Eastern Economic Forum.

The parties agreed to run joint accelerator and educational programs, facilitate the commercialization of intellectual property, and help bring new products to market.

"This is an important step towards building a tech ecosystem and fostering new technologies in the Primorsky Krai. I am confident that our joint efforts will significantly boost the number of successful startups and bolster the economy of Primorsky Krai. The recent launch of FEFU's "Startup Generator v2.0" accelerator program will help student teams develop their technological and product expertise and support their drive to bring unique ideas to life," stated FEFU President Boris Korobets.

"Technological entrepreneurship drives the creation of new ventures and jobs, boosts tax revenues, and fosters the overall economic development of the region. It certainly serves as a source for new technologies and innovative products that improve quality of life and production efficiency. I am confident that our collaboration with FEFU in this area will amplify our efforts, which will undoubtedly yield significant results," said Vera Shcherbina, First Vice-Governor and Chairman of the Primorsky Krai Government.

At the 2023 Eastern Economic Forum, FEFU and the Primorye Government agreed to create an Innovation and Production Center (IPC) – a platform designed for the production of high-tech products by small innovative companies. The primary goal of the FEFU IPC is to boost the region's technological potential and competitiveness. The first phase of the IPC already hosts two innovative companies, along with the FEFU Youth Design Bureau (YDB). The YDB attracts motivated students by providing them with practical skills in design, engineering, and research by executing real projects. The bureau is equipped to handle a wide range of engineering, technical, and research tasks for the residents of the center and other local companies. Students, guided by experienced mentors, carry out engineering projects commissioned by industrial partners at the YDB's production base.