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Sauber finds Russian backers

NEWS STORY
15/07/2013

Sauber has announced a partnership between the Investment Cooperation International Fund, the State Fund of Development of North-West Russian Federation and the National Institute of Aviation Technologies.

The partnership, which comes at a time of increasing speculation over the Swiss outfit's future, will see Sauber incorporating the promotion of Formula 1 in Russia and jointly developing high-technological solutions.

With the National Institute of Aviation Technologies, one of the leading scientific research institutions in Russia, the team will benefit from the advanced know-how of the front-end Russian scientists and engineers.

The objective of the partnership is to open up new perspectives and revenue streams by commercialising jointly developed technologies.

The partnership includes further activities for the promotion of the inaugural Grand Prix in Sochi in 2014 and attracting young Russians towards motorsport. In particular, a development programme will be set up for the Russian driver Sergey Sirotkin to prepare him as a racing driver for the team in 2014.

According to the press release: "This extensive co-operation will showcase Russian innovation at the pinnacle of motorsport. At the same time, the Sauber F1 Team will have a solid foundation to increase its competitiveness on a long-term basis".

The Investment Cooperation International Fund (ICIF) was established with the support of the Administration of the President, the Chamber of Commerce and Industry and Ministry of Regional Development of the Russian Federation. The Fund contributes to the development of specific technology programs and technical upgrades of the industry. In addition, it invests in Russian regions and the development and modernisation of industrial enterprises.

The State Fund of Development of the North-West is a not for profit organisation established to finance programs, projects and activities supporting the economic, scientific and cultural heritage of the North-West region of the Russian Federation.

The National Institute of Aviation Technologies (NIAT), is one of the leading scientific institutes in Russia. With nearly 1000 employees, NIAT greatly contributes to the development of technologies as well as the aviation industry.

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