Russia Pours Billions in Oil Profits Into Nanotech Race

November 1, 2007

After sleeping through the high tech revolutions of the late 20th century, the Russian government is dumping billions into the burgeoning science of nanotechnology. The Kremlin last June announced the creation of Rosnanotekh, a state nanotechnology corporation slated for $5 billion in initial funding — an outlay that propels Russia past China in nanotech spending, and puts the country on a par with the United States in government-funded nano research. (Wired)