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Innovations lay foundation for Russia's power - Condoleezza Rice

© RIA Novosti . Iliya Pitalev / Go to the mediabankCondoleezza Rice
Condoleezza Rice - Sputnik International
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Innovations and knowledge-based economy are now becoming the basis of Russian power, former U.S. State Secretary Condoleezza Rice said during her visit to the Russian hi-tech hub Skolkovo on Friday.

Innovations and knowledge-based economy are now becoming the basis of Russian power, former U.S. State Secretary Condoleezza Rice said during her visit to the Russian hi-tech hub Skolkovo on Friday.

"Skolkovo has a major role not only in the transformation of Russia, but also in the transformation of global environment," Rice said.

"It [Russia] is an emerging market, that's true, but a market that has an international power," she added.

Rice, a professor of political economy at Stanford University, will take part in a roundtable conference on innovation. She is leading a group of 40 U.S. students visiting Moscow.

Skolkovo and Stanford University have agreed to develop joint research projects, Russian billionaire Viktor Vekselberg, who is in charge of the hub, said after Rice's visit.

U.S. Vice President Joe Biden visited the hi-tech hub earlier in March.

Russian President Dmitry Medvedev is leading efforts to modernize Russia, and is seeking foreign partners for Skolkovo, which is being built from scratch just 20 km outside of Moscow.

Last year, former California Governor Arnold Schwarzenegger brought a delegation of Silicon Valley business leaders and investors to Skolkovo to help establish connections.

MOSCOW, March 25 (RIA Novosti)

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