The Russian government will allocate a total of 3.99 billion rubles ($132 million) in 2010 for the development of the Skolkovo research hub outside Moscow.
A relevant order was signed on July 26.
Russian President Dmitry Medvedev has made developing the hi-tech sector and encouraging innovative research the focal point of his economic agenda.
Skolkovo is being built from scratch 20 kilometers west of Moscow. The center will focus on research in five priority spheres: energy, information technologies, communication, biomedical research and nuclear technologies.
Medvedev has called on foreign companies to participate in the Skolkovo project.
Earlier in July, the German company Siemens signed a memorandum of mutual understanding with Skolkovo during the Russian-German St. Petersburg Dialogue forum in the Urals city of Yekaterinburg.
During his visit to Italy last week, Medvedev called on Italian firms to cooperate in the Russian hi-tech sector, including in the Skolkovo research hub.
MOSCOW, July 29 (RIA Novosti)
