High-technology “Aurora-Park” is to be built in Belgorod to support development of innovative sectors of regional economy, Russian government daily Rossiyskaya Gazeta reports.

The project started with construction of an apartment block in the South-Western part of Belgorod.

Aurora Park is expected to provide infrastructure elements for innovators and high-tech businesses. The complex will include residential housing for over 20,000 people, as well as social infrastructure – stores, clinics, school, kindergarten, service providers.

Under the project, the complex will be inhabited by students, inventors, creators of innovative products, managers of small technological firms. Many of these people will be students and inventors and entrepreneurs at the same time, as the complex will facilitate continuous technologies transfer.

The project will be financed under the public-private partnership scheme, with regional authorities to fund infrastructure, and investors to finance their projects. Among Aurora Park’s first residents are a plant to produce dental equipment and tools, and a small IT firm.

Under plans, the technopark will focus on projects that meet the region’s needs and demands, such as development of new methods to process agricultural waste, or introducing nanotechnologies in metallurgy.