Creating A Silicon Valley in Russia

Officials in Russia are hoping to create their own version of Silicon Valley by luring tech companies to the Skolkovo innovation hub.
August 24, 2011, 5am PDT | Nate Berg
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"The Kremlin is working hard to position Skolkovo as a hallmark of its modernisation programme and a key part of its strategy to diversify away from oil and gas. The country will launch a "blitz tour" across the UK, Spain, France and Germany this autumn as it looks to draw in foreign investors to help create a Silicon Valley in Russia.

The ultimate goal is to build a hub where Russia's young entrepreneurs can share resources, and feed off each others' ideas, with multinationals having their pick of the country's best talent and start-ups. There will also be a university created in conjunction with the Massachusetts Institute of Technology, which is set to be up and running by 2014."

The area is developing partnerships and agreements with major international technology firms for the construction of office complexes.

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Published on Sunday, August 21, 2011 in Financial Times
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