The Skolkovo Foundation is a non-profit organization founded in September 2010 by the Russian government with the objective of accelerating Russia’s transformation from a resource-intensive to an innovation-based economy. To achieve this objective, the Foundation is overseeing the creation of the Skolkovo Innovation Center, composed of more than 1,400 high-tech startups, Skolkovo Technopark, the Skolkovo Institute of Technology (Skoltech) - a new graduate research University established in collaboration with the Massachusetts Institute of Technology - and Skolkovo city, located near Moscow. Together, these entities establish a vibrant ecosystem of technology innovation and entrepreneurship. Fifty global corporations including Boeing, Cisco Systems, EADS, GE, Johnson & Johnson, IBM, Intel, Microsoft, Siemens, Nokia, Samsung, and Panasonic have already recognized the opportunity Skolkovo presents by signing R&D partnership agreements with the Foundation. The cumulative revenue of Skolkovo’s startups through December 2015 reached $1 billion. They brought in more than $270 million in investment, creating 17,500 jobs and filing over 1,800 patent applications along the way. By 2020 over 2 million square meters of residential and office space will be built in Skolkovo with 35,000 people working daily in the Innovation Center.