Industrial

Russia's 47 biggest state-controlled companies, including Gazprom, Russian Railways, RusHydro, and Aeroflot, are to transfer 1% of their innovation budgets, about R10bn ($340m) to Skolkovo Institute of Science and Technology (SkTech).

The US-based medical diagnostics company has spun off a plastics company with in partnership with a Chinese province, which its chief executive says could be a $1bn opportunity.

That the two research institute remain shareholders is positive for the company as well as potentially a source of profits back to the academics.

Samsung Venture Investment Company, the corporate venturing unit of the eponymous South Korea-based conglomerate, is nearing first potential exit from its European team set up two years ago.

Miles Kirby has become managing director of technology group Qualcomm's Ventures Europe unit, while Mark Felix, investment manager for? Dow Venture Capital, is effectively running Europe for the chemicals company from its Swiss office.

News provider China Business News said Shanghai Baosteel Packaging, which has US publisher International Data Group's IDG Capital Partners and a private equity arm of China-based financial services group Citic Securities as investors, needed capital for expansion by its initial public offering (IPO).

Novaled said it was founded in 2001 as a spin-off from the Technical University and Fraunhofer Institute in Dresden, Germany, both of which are leading German research institutions in the field of materials science and technology, and they remain shareholders.

IC Green Energy backs the bio-fuels company, which is looking for other strategic investors to bring its gas-to-fuel conversion technology to market.

In this world, and future ones of potential products derived from the operation of sentiment machines able to learn, could be sparked the next wave of productivity and economic growth.

Life Technologies Corporation and Flint Hills Resources-backed SG Biofuels has raised $26.4m across two rounds.