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Starting from 2016, the Ministry of Education and Science of the Republic of Kazakhstan, together with the World Bank, implements the Project for stimulating productive innovations aimed at creating conditions for market selection of technological start-ups and attracting private business participation in them
The project offers grants to various scientific groups.
The selection of works applying for grant programs is conducted by the best specialists of the world, collected by the World Bank and the Ministry of Education and Science to the Council for Science and Commercialization (IICC). All IGNC members have international experience in the commercialization of scientific technologies.
IISC member Dr. Thomas Chelucci , a recognized expert in the field of practical commercialization of new and emerging technologies, and the first chief employee for the commercialization of executive periods in the US federal government by the administrations of Presidents Bush and Obama, spoke about the work of the council and the criteria for selecting projects .
Dr. Thomas, the first question: what is your opinion on the scientific projects of Kazakhstan?
- I can say that I am impressed by the growing quality of incoming applications. And I, and other members of the council, note the qualitative changes in the projects being presented: they are getting better and more interesting. We are very satisfied.
What areas represent submitted applications?
- Many projects for agriculture, mining, oil and gas. They look better composed, more balanced and close to the conditions that we aspire to.
What projects did you find most interesting this year? Can you tell us more about them?
- I do not think that it will be right now to single out individual projects, after all, significant work has been done on all applications that are being selected. And even for those who did not become a winner. There were good ideas, but the subsequent commercialization of projects is extremely important to us. I was impressed by the fact that more and more applications include cooperation with organizations outside of Kazakhstan. In my opinion, it is wonderful to develop cooperation with scientists and businessmen outside the local market. Partnership can be different and one must understand the importance of cooperation in the context of globalization.
How carefully is the selection of scientific projects applying for grants?
- We critically consider projects, ask clarifying questions, ask for details on the stages, realizing responsibility to the Kazakhstani society.
We do not take premature decisions and approach the choice, carefully analyzing and listening to each member of our team to be sure of the correctness of the conclusion on the prospects.
It is important that Kazakhstanis understand and take into account the fact that it is their money that is used to finance technological and innovative start-ups.
What is the specific benefit of Kazakhstan, financing projects "Stimulation of productive innovation"?
- This is a complex solution, which is difficult to measure by one criterion. In Kazakhstan, they seek to commercialize ideas in order to bring them to the international market. The last group of applications impressed me the most, because I see that the implementation of these projects can bring Kazakhstan a great economic benefit.
How is the innovation of this or that project determined? Is the recognition of scientific and technical development recognized by the world community?
- Kazakhstan is a young state, but behaves like an older country, more mature, in a good sense of the word. Kazakhstan is already focused on the commercialization of scientific technologies, and this is commendable. In the United States, there is a lot of controversy about whether America remains today the leader in the commercialization of technology. My opinion: the leaders in this now is Asia. Yes, they can take American ideas, but it is in their countries that they turn ideas into real products.
What can you say about the development of scientific research and scientific and technical thought in Kazakhstan?
- There are three stages from the scientific idea to the real product: invention, innovation and commercialization. I admire Kazakhstan, its people and scientists, aware of the importance of these three steps for the development of the economy.
President of Kazakhstan Nursultan Nazarbayev said this many times, I was honored to be with him at several meetings, he understands the importance of investments in science and commercialization of technologies very well, which causes my admiration. The real driver of the economy of a modern country can be the science and commercialization of its technologies. Science can come up with various interesting things, but they acquire real value only when they help a person solve problems or improve the quality of life.
To All, I find it VERY encouraging that Dennis decided to do a 'Flash Back Friday' repost of the story about his company's being involved with a test of sensors for Trump's wall. The ONLY reason I can think of for such a repost is that Dennis is implying that the chances of DP getting the sensor part of the [potential] wall contract is either certain or very likely. [But I still don't think congress will approve the budget for an unnecessary wall.]
And Tom's Christmas eve tweet states flat out: 'many announcements in the coming days scheduled'. That surely sounds good.
And on the JV front, as I read them, strong hints have been given to let us know that the JV is still on track and that when formed it will go public with an IPO. What is left to guess about is the percentage of the new company that will be sold in the IPO and the amount of funds raised, some of which could be distributed back to the parent companies. I think we can eliminate anything toward the extremes of the range from 10% to 100%. If the percentage of the company being sold to the public is not more than 10%, it would be hard to broker the IPO and it wouldn't raise a worthwhile amount of funds to distribute back to DP and BVTK. At the high end of the range, if nearly all the JV profits stay with the company and its shareholders, DP and BVTK would have in effect sold their large potential future profits from the JV company for a modest upfront capital infusion. If the JV company IPOs 25% to the public, Tom would be cutting the Bravatek share of the JVs bottom line from 40% to 30%, in exchange for taking some up-front cash out of the JV.
Am I getting this right? Corrections welcomed!
Enjoy the holiday feasting, family and friends. I just want to add that I consider the regulars on this board my new friends, and thanks especially to JW for all the great posts.