Delegates from the Skolkovo Foundation, the new Russian high-tech innovation center, are in Silicon Valley this week for bilateral talks on innovation and relationship building with business leaders and venture capitalists. Discussions will focus on how to create a competitive economic future for all through the employment of technology, and most importantly, the creation and cultivation of innovation.
The Skolkovo Project, a new science and technology city in the Moscow suburb of Skolkovo, is the site of an MIT-like university, where Russian and international companies have signed up to engage in university research programs, intellectual property is promoted, and an array of venture capital firms from Russia and abroad are being courted to provide the investment capital for those next-generation ideas. The Project is capitalizing on Russian talent and empowering domestic venture capital infrastructure. Dozens of multinational companies have already found a place to invest by starting strategic partnerships with the Skolkovo Foundation.
Inaugural Meeting of Innovation Working Group
At last year’s G8 Summit in Deauville, France, Russian President Dmitry Medvedev and U.S. President Barack Obama established two new Bilateral Presidential Commission working groups. One group is focused on innovation, and is chaired by Russian Presidential Advisor Arkady Dvorkovich and Undersecretary of State for Economic Affairs Robert Hormats. The inaugural meeting of this U.S.-Russian Bilateral Presidential Commission Working Group on Innovation is taking place this week in Silicon Valley. Group discussions will focus on closer collaboration in cutting-edge research and development activities, the commercialization of such activities, and the challenges of creating successful innovation centers such as Skolkovo.
Establishing Partnerships in Silicon Valley
In addition to the innovation group meetings this week, the Skolkovo Foundation team will visit NASA headquarters and several research centers, including those of Cisco, a key partner in the Skolkovo development project. On Wednesday, March 28, Skolkovo is scheduled to sign an MOU expanding its relationship with Cisco. The Foundation will also sign an MOU with Bessemer Venture Partners, one of the largest and longest-established venture capital firms in Silicon Valley, outlining plans to work together to promote innovation and economic growth.
Thought Leadership at the Global Technology Symposium
From March 28-30, Skolkovo representatives will participate in the prestigious 4th annual Global Technology Symposium at the Rosewood Sand Hill in Menlo Park, California. The symposium is the leading investment conference on venture capital, technology and entrepreneurship in emerging markets. Each year, the event brings together opinion leaders in business, finance, technology and policy making to share the latest thinking on globalization.
A Skolkovo board meeting is scheduled to take place on Thursday, March 29 to discuss annual procedures and policies.
"I am confident that our trip to Silicon Valley and the first meeting of the Working Group on Innovation will open a new chapter in the history of economic ties between Russia and the United States,” said President of the Skolkovo Foundation Viktor Vekselberg. “I also hope that our active cooperation to drive innovation in both of our countries will set the standard for Russian-American business collaboration as we move further into the 21st Century."
This week marks a clear step forward for the global market, as international relationships are solidified to promote collaboration and a combined investment in a global future.
On-site media contacts:
Jessica Bardoulas, 415-591-4057, jessica.bardoulas@bm.com
Sherry Bourzac, 415-591-4008, sherry.bourzac@bm.com
For more information on Skolkovo, please visit http://www.sk.ru/en
Follow Skolkovo on Twitter @sk_en
Source: businesswire.com