RUSNANO was created on 11 March 2011 through reorganization of Russian Nanotechnologies Corporation, a state-owned entity set up in 2007. The mission of RUSNANO Group is furthering public policy to win a leading role for Russia on world markets for nanotechnologies. The main objective of RUSNANO is to commercialize advances in nanotechnology by turning them into viable businesses. The company acts as co-investor in projects with substantial economic potential. RUSNANO aims to build a competitive nanotechnology industry in Russia, using the capacities of Russian science and transfer of advanced foreign technologies. RUSNANO is one of the country's largest technology investors. Its investments to date are in excess of 100 billion rubles and it is expected that sales by RUSNANO portfolio companies will total more than 300 billion rubles in 2015, when total sales by the Russian nanotechnology industry will be worth 900 billion rubles.