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| [March 30, 2012] |
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Skolkovo Receives Warm Welcome from Silicon Valley Leaders
SAN FRANCISCO --(Business Wire)--
A bold project to spur Russian science and technology innovation
received an enthusiastic reception from Silicon Valley's corporate and
venture capital leaders this week.
Delegates from the Skolkovo Foundation, the new Russian high-tech
innovation center, signed a Memorandum of Understanding (MOU) with
Cisco (News - Alert), expanding their existing partnership. The plan sets the way for
the company to create a physical R&D presence in the Skolkovo
Technopolis.
"Innovation in the Russian economy is rapidly gathering pace through
our continued partnering and investment with Cisco," said Skolkovo
Foundation President Viktor Vekselberg. "The creation of new
high-tech, high-value jobs in the local economy solidifies the
commitment of both Cisco and Skolkovo to drive innovation in Russia.
Here, as in other projects, Skolkovo is acting as a pan-Russian portal
to technological excellence and young talent of relevance to our
commercial partners."
The Skolkovo Project, a new science and technology city in the Moscow
suburb of Skolkovo, is the site of a MIT (News - Alert)-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.
In addition to corporate partnerships, Skolkovo also received a positive
response, and strategic connections, with Silicon Valley's venture
capital community.
Skolkovo signed 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. Under the terms of the MOU, Bessemer Venture Partners set a USD
20 million target for investments into Skolkovo resident companies over
the next two years.
"We are thrilled to be working with the Skolkovo Foundation, which
has been instrumental in the creation of a vibrant entrepreneurial
community in the heart of Russia that is fosterig global innovation,"
said BVP's Ed Colloton. "Bessemer is among the first venture capital
firms to have built a truly global platform, with a mission of finding
and funding the highest growth startups, wherever they operate. We look
forward to leveraging our global expertise as we continue to partner
with Skolkovo's brightest entrepreneurs to build world-class companies."
The key focus for Skolkovo Foundation as a development agency is to
bridge the gap between seed rounds and A rounds for high-tech companies
coming from Russia - and partnerships such as this one are essential for
achieving this goal. With the signing of the Bessemer MOU, Skolkovo now
partners with more than 30 Russian and international venture companies.
During its week-long mission to Silicon Valley, Skolkovo also
participated in a number of joint U.S.-Russian collaboration activities
and discussions, including:
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The inaugural meeting of the U.S.-Russian Bilateral Presidential
Commission Working Group on Innovation. Group discussions focused 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.
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Site visits and meetings with American research leaders including
senior staff at the NASA Ames Research Center, NASA Research Park and
NASA/University of California Collaboration: University Affiliated
Research Center (UARC).
-
Participation in the prestigious 4th annual Global
Technology Symposium (GTS) in Menlo Park, California. Skolkovo
representatives led "Russia Day" panel discussions at GTS on topics
ranging from Skolkovo's vision to "Cultivating the Russian
Entrepreneurial Spirit." GTS 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.
"I am confident our trip to Silicon Valley and the first meeting of
the Working Group on Innovation has opened a new chapter in the story of
U.S.-Russian economic ties," said Vekselberg.
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 (News - Alert) @sk_en
About the Skolkovo Foundation
The Skolkovo Foundation has the mandate from the Russian Government to
help accelerate the transformation of Russia from a resource-intensive
to an innovation-based economy through strategic partnerships with
leading scientists and corporations (currently numbering over 400
companies and start-ups). The Foundation aims to strengthen the links
between Russian and international science, technology, education,
entrepreneurship and investment communities. To achieve this objective
it is overseeing the creation of the Skolkovo Innovation Centre composed
of five R&D clusters, a Technopark, the Skolkovo Institute of Technology
(a new graduate research University established in collaboration with
the Massachusetts Institute of Technology) and Skolkovo city, located
near Moscow. Together these entities will establish a vibrant eco-system
of technology innovation and entrepreneurship. The Foundation is a
non-profit organization founded in May 2010 by the Russian Government
with a grant of USD 5 billion. For more information: http://www.sk.ru/en
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