The first day of the Forum was opened by the plenary session "Applying Innovative Thinking to Improving Company Efficiency and Market Competitiveness". The speakers started with the words of welcome and told their view on the current state of regional innovative economics: Victor Gorchakov, Chairman, Primorsky Region Legislature, Kendrick White, Founder & Managing Principal, MARCHMONT Capital Partners, Oleg Utkin, Head of Government Relations, OJSC “Russian Venture Company” and Anvir Fatkulin, Rector, Far-Eastern National Technical University.

Victor Gorchakov, Chairman, Primorsky Region Legislature, stated that regional business is supported everywhere by authorities. “Entrepreneurs are the main consumers of innovation. In the last years innovation reorganization of Russian economy has become the key matter as for the government institutions, commercial structures and public organizations. One of the priority trends in innovation reorganization is strengthening the innovation activity in regions. During 5 years different meetings are held sequentially to reorganize Primorsky Region into innovation platform.”

Kendrick White said: "The situation in Russia has changed a lot. The crises affected the world economy during the last two years. The question is how we can adjust to this circumstances and what the role and place of Russia is. Nowadays RF government actively supports and develops innovative economics. Many system problems and barriers impede economics development in Russia. It is necessary to build new systems and relations".

Oleg Utkin, Head of Government Relations, OJSC “Russian Venture Company” explained the today’s tasks of RVC and new type of business in Russia: “First of all it’s a high-risk business. We consider innovations not just as a high-technology business. Commercial and entrepreneurial terms are also very important. Companies which due to venture investment could develop and increase their profit efficiently, can be called innovative.”

Evgeniya Mayorova, Head of the Department of Economics and Business Development, Administration of Vladivostok spoke on behalf of Igor Pushkarev, Head of Vladivostok: “We actively support small and middle entrepreneurship during 2 year period in Vladivostok. Within the bounds of acting municipal target program of small and middle enterprise development, financial support of entrepreneurs is provided. This year we plan to support entrepreneurs in sum of 18 million rubles”.

The role of science is also very important. Anvir Fatkulin, Rector, Far-Eastern National Technical University stressed the importance of active involvement for innovation process participants. On June 8, 2010 there will be a Far Eastern Federal District Council of Rectors, where they plan to discuss the matters of forming new departments in universities purposely to develop innovation economy.

Within the first Forum Session "Preparing the Foundation for Russia's 21st Century Innovation Economy" the following speakers took the floor: Kendrick White - Assessing Russia's Competitive Advantages in a Global Integrated Economy; Eduard Fiyaksel, PhD in Economics, Nizhny Novgorod Branch of the State University – Higher School of Economics, Head of Venture Management and Marketing Departments, President, PFO Business Angel Association “Start-Invest” - A Cluster Approach to Settingup Regional Innovation Systems; Evgeny Savin, the founder of UNOVA Media, spoke on "Innovation Ecosystem".

The second session started with the report of Patrick Fullick, Founder & President, Science Connections, - From Laggard to Leader. How the UK Transformed into Innovation Economy.

The second part of the day was dedicated to discussion of the topics: "Role of Innovations in Russia's economics" and "Innovation as a Driver for Improving Company Value and Attractiveness". Oleg Utkin presented "Russian Venture Company" as one of the instruments of innovation technologic economics market.

Today there are 20-30 venture partners of Russian Venture Company, and the number of them will increase. Russian Venture Company Seed Fund, Ltd has to make the process of private investment flow into innovation sphere easier.  It not only gives money, but also shares the risks with private investor.

Sergey Mitrofanov, Vice-President, Group of Companies, V-Lazer, Vladivostok spoke about particular features of innovation project development in a group of companies and urgent problems in innovation sphere.  The last session of the first Forum day "Alternative Investment Sources - Using Innovation to Attract Strategic Partners" reasonably exited the interest of the audience. Within the session the following well-known Russian experts took the floor: Vitaly Lazorin, CEO, NovStream - Constructive Solutions, Expert, Russian PricewaterhouseCoopers Technology and Innovation Centre; Kendrick White, Founder & Managing Principal, MARCHMONT Capital Partners, Nizhny Novgorod; Andrey Andrusov, Partner, BRANAN, Moscow.

Andrey Turanskiy, Head of Customer Service Department, MICEX Far East spoke about modern opportunities of MICEX in attracting investment capital to finance enterprise innovation.

More than 90 people visited the Forum during the first day. Among them there were leaders and top-managers from Vladivostok and the region, representatives of high educational establishments and scientific organizations, experts of large international companies, business-angels, entrepreneurs investing into scientific-and-research business.

The second day of the Forum "Attracting Investment Capital to Innovation Projects and Enterprise modernization" was opened by Victor Gorchakov, Chairman, Primorsky Region Legislature. Within the round table discussion “Regional investment Climate on Primorye Territory – Elements for Success” Victor stated that today Russian Government promotes and initiates innovative activity of large scale business. The most problems in the region are connected with the lack of knowledge and education.

Leonid Preminger, Deputy, Primorsky Region Legislature spoke about government support of investing into innovation on Primorye Territory.
In the framework of the round table the following participants took the floor: Aleksander Ermolaev, Deputy, Primorsky Region Legislature, Andrey Kosolapov, Director, ZAO “Tikhookeanskaya Management Company”, Igor Korshenko, Executive Director; ANO “Scientific Research and Innovation Technical Cooperation of Russia and APEC”.

The program of the Forum was followed by the round table discussion "Practical Local Experience in Developing Innovation Projects". Companies' experience aroused a vivid interest of the participants and a discussion. The examples of their strategy construction were given by the following specialists: Konstantin Volodin, Director, ООО «Innovative Diesel Technology», Vladivostok; Eduard Fiyaksel, PhD in Economics, Nizhny Novgorod Branch of the State University – Higher School of Economics, Head of Venture Management and Marketing Departments, President, PFO Business Angel Association “Start-Invest”, Vladimir Davydov, Far East Regional BIT Contest Organizer, Vladivostok.

The participants of the next round table discussion "Investments into Technologies and Innovation - Barriers and Solutions" were: Kendrick White, Founder & Managing Principal, MARCHMONT Capital Partners; Eduard Fiyaksel, Nizhny Novgorod Branch of the State University - Higher School of Economics, Head of Venture Management and Marketing Departments, President, PFO Business Angel Association "Start-Invest".

The opening meeting of Far East Business Angels Network “Laboratory of Investments” closed the official program of the Forum. The Network selected three innovation projects which were presented during the meeting to the guests of the Forum:

1. «Sea Probiotic Carbo-Hydrate Biopolymer” (Maxim Khotimchenko, Scientific production association “Vostockfarm”, Institute of Sea Biology, Far-East)
2. «Methane of Primorye Territory» (R.Shakirov, V.I. Il'ichev Pacific Oceanological Institute, Far-East Branch of the Russian Academy of Sciences)
3. Agricultural Biotechnological Complex “Zelenie Listya” (Anton Podoba, «Zelenie Listya”)

After the presentation the teams had a chance to listen to comments concerning their projects revision.

Additionally Eduard Fiyaksel noted: "During the crisis the financing of venture funds is going down. And it is surely bad. On the other hand, due to the crisis it is not lucrative to invest money into traditional business to those people who had earlier monetized the assets. They have to consider the high-tech sphere. And it is good.

The business-angelism should become a mass phenomenon in the innovation economics. A business-angel should become a serial investor, i.e. he should have more than one project in contrast to a private investor".

The night cocktail party and informal communication of experts and participants closed the event.

Over 60 people participated in the work of the second day of the Forum.

The total number of visitors of the Forum was more than 100 people.