Skolkovo’s $200 million deal with Cybernaut to stimulate Russian-Chinese innovation won prominent coverage in the world's media this week, with references to “a big move for Sino-Russian economic relations” that may have “a significant global effect on how business will be conducted over the rest of the decade.”
The cooperation agreement, inked by Skolkovo senior vice president Vasily Belov and Cybernaut’s managing partner Du Hao in China this week, received significant play in the likes of Forbes and Fortune magazine, VentureBeat, Robohub and others. The agreement provides for the creation of a joint Russian-Chinese business incubator, robotics center and a $200 million venture fund.
Forbes called the deal “a big move for Sino-Russian economic relations. Despite political issues, the publication noted, Russia’s “current emphasis on innovation and cooperation with China within its tech ecosystem may have a significant global effect on how business will be conducted over the rest of the decade.”
Fortune’s first observation, meanwhile, was that “the United States isn’t the only place in the world where money is pouring into high-tech innovation.” The deal, it maintains, “signifies increased cooperation between the two countries to develop technology that benefits the both of them.”
In specialist outlet VentureBeat, writer Dean Takahashi highlighted the kind of ecosystem that Skolkovo offers the Chinese side.
“Russia set up the Skolkovo business park in 2010, and today it has more than 1,000 tech startups that have generated more than $1 billion in revenue to date. They have also raised more than $220 million in investment and created 13,500 jobs.”
Robohub lamented it was unclear exactly how much would be spent on the robotics side of the deal but spelled out the benefits for both sides.
“Russia will gain from the influx of cash, as well as access to China’s manufacturing pipelines and marketplace,” the website said. “And China stands to gain, too. According to a report in the Chinese-language Economic Observer, and summarized in Want China Times, despite the 36 industrial parks developed for the robotics sector in recent years, ‘some companies that claim to be creating robots do not have labs, research teams, or the ability to conduct tests,’” added Robohub.
“It would appear that Cybernaut aims to reverse this trend by importing Russian research and technical expertise,” it reported.
Skolkovo and Cybernaut officials pose after signing the deal.
The deal didn’t escape the glare of the domestic Russian media, either.
The Moscow Times, Russia’s only English-language daily newspaper, claimed the accord would “bring a wave of new cooperation between Russia and China to the world of high technology.”
Sputnik International, meanwhile, placed the deal in context of broader Russia-Chinese ties, citing Chinese Foreign Minister Wang Yi as saying in March that bilateral trade turnover is likely to reach $100 billion this year.
National broadcaster RT also portrayed the agreement as part of a wider trend.
“Moscow and Beijing have been increasing cooperation in various fields, including the energy and financial sectors,” RT reported, pointing to an October deal to build high-tech parks in the two countries and develop a joint ratings agency as well as switching to local currencies in trading settlements.
When the agreement was signed, Russia’s Deputy Prime Minister Arkady Dvorkovich called it “an important step in the development of Russian-Chinese cooperation in the area of innovations.”
“In recent years China has made great strides in the development of high technology and has created large tech parks. China has also gained extensive experience of implementing innovative technologies in industry … creating high-tech corporations, a few of which have become world-famous brands,” Dvorkovich added.
“Russia, for its part, always excelled in scientific research. We have serious know-how in the area of nuclear, space and information technologies. I am certain, that by uniting efforts Russia and China can reach substantial success in the development of innovations and thereby make a significant contribution into the economic development of our countries,” he said.
The 1,500 sq. m. R&D business incubator will be situated at the Skolkovo Innovation Center and house at least 15 Skolkovo resident companies that conduct research into IT and robotics, space, energy-efficiency technologies and new materials.
Cybernaut’s robotics center, which will be created in China with the help of Skolkovo’s Robotics Center, will implement a joint acceleration program for Skolkovo resident companies to ease them into the Chinese market.
The agreement comes into force in the third quarter of 2015.