- Skolkovo should become 'open platform for research, development'
- Arnold Schwarzenegger to bring American investors to Russia
- Schwarzenegger brings Californian investors to Russia
- Skolkovo will not be Silicon Valley's clone — Medvedev
- Business should invest more into innovation - ex-PM Primakov
The Skolkovo Innovation Center near Moscow, dubbed Russia's "Silicon Valley," will need a financial injection of up to 200 billion rubles ($6.7 billion) over three to five years, Russian tycoon and president of the project Viktor Vekselberg said.
"The three-five year plan of our program includes a demand for around 180 to 200 billion rubles," Vekselberg told journalists.
Vekselberg said half of the figure would be injected by the government and the rest would be financed by private businesses.
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.
The businessman said a mandate of the Skolkovo projects, describing the main criteria for the participants, was approved at the council on Monday.
"Our demands for the projects will be high," he told journalists.
He said the projects would be based on the principle of co-financing and the obligatory participation of both Russian scientists and foreign partners.
MOSCOW, October 11 (RIA Novosti)
Add to blog
You may place this material on your blog by copying the link.
Image Galleries: Hungry Hippos, Tiny Tamarins and Other Animal News
Infographics: First Russian Smartphone
New ties between Russia and Japan would mark not only a breakthrough in their relations but also a significant shift in Northeast Asia’s political dynamic. Both are secondary players in a region overshadowed by an increasingly assertive China, which has not hesitated to push against the boundaries of its neighbors.