Intersputnik Takes Part in SATCOMRUS Conference

This event that brought together Russian and international satellite telecommunications and broadcasting companies, banks, insurance companies and the media was sponsored by Intersputnik’s strategic partner RSCC with support from the Federal Communications Agency.
   
Intersputnik traditionally supported RSCC, which is a national Signatory of the Organization from Russia. The key topic of the conference was «SMART SATELLITE: Ideas and Innovations». During the first session attendees discussed development strategies of the satellite telecommunications industry for the next five to ten years. Intersputnik Financial Director Svetlomir Stoytchev spoke about the significance of public-private partnership, strategic tasks to identify and do business in new areas, and about a new program of expanding satellite telecommunications business in the member-countries of Intersputnik.
   
Last summer the Board and the Operations Committee of Intersputnik decided to set aside a special-purpose fund to support innovative projects in the field of satellite telecommunications in the member-countries. Such projects will be selected under a program of business development after an annual call for proposals. Initially, the fund will total USD 4.5 million with up to USD 750,000 allocated to a single project. Financing under the development program will be available to satellite telecommunications operators and companies in the member-countries of Intersputnik provided that they meet certain requirements. The main conditions are their financial stability and the estimated project payback. Projects may aim both at expanding and upgrading satellite networks, making new satellite equipment systems and offering new services. Today, several proposals from Program participants are under consideration.