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Today's paper. Last Updated: 02/21/2012

Skolkovo Gets LUKoil as Investor

Skolkovo head Viktor Vekselberg, pictured here, and LUKoil president Vagit Alekperov inked a memorandum of understanding about the oil major's participation in Skolkovo, LUKoil said.
LUKoil will become one of the core investors of the technology hub in Skolkovo and will locate its research center there beginning in 2014, the company said Monday.

Siemens Plans Medical Pilot Projects at Skolkovo

Siemens will most likely do its initial projects at the Skolkovo technology hub in the areas of bio or nuclear medicine, and could show results by late 2011, Siemens Russia vice president Martin Gitsels told The Moscow Times on Thursday.

Putin Offers $3.9Bln to Revamp Drug Sector

Prime Minister Vladimir Putin visiting the KhimRar research center in the Moscow suburb of Khimki.
Prime Minister Vladimir Putin on Wednesday promised 122.9 billion rubles ($3.9 billion) in federal funding to modernize the medical and pharmaceuticals industry.

Nokia Agrees to Join Skolkovo Center

A Nokia store in Helsinki displays the latest phones. The Nokia Skolkovo research center is one of eight worldwide.
Nokia committed on Wednesday to open a research facility at the Skolkovo high-tech innovation center being set up outside of Moscow, with a memorandum of understanding signed in a ceremony at the Moskva-City business center.

Ballmer Vows Millions for Skolkovo

Microsoft CEO Steve Ballmer signed off on a plan Monday to join the government's Skolkovo innovation hub, which could see the U.S. software giant investing "tens of millions of dollars" in the project and nascent Russian tech ventures.

Schwarzenegger Lauds 'Gold Mine'

California Governor Arnold Schwarzenegger addressing an audience of business executives Monday as AmCham head Andrew Somers looks on.
California Governor Arnold Schwarzenegger called President Dmitry Medvedev "a great visionary" and compared Russia to a "gold mine" of business opportunities in comments to a room full of entrepreneurs and journalists in Moscow on Monday.

Schwarzenegger Arrives in Moscow

Combined Reports
Governor Schwarzenegger speaking in Palo Alto last week, while Apple CEO and co-founder Steve Jobs looks on.
California Governor Arnold Schwarzenegger arrived in Moscow on Sunday, ahead of talks with President Dmitry Medvedev. He’s on a five-day trip to promote contacts between Silicon Valley business leaders and their local counterparts.

Duma Amends Skolkovo Bill

The billionaire who is directing Skolkovo's development, Viktor Vekselberg.
The State Duma passed an amended bill on the Skolkovo innovation hub, adding perks for participants, but legal experts and potential investors said more work was needed to ensure the project's success.

Skolkovo's Tenants to Get Tax Breaks Before It Opens

Bloomberg
Deputy Economic Development Minister Stanislav Voskresensky said a bill passed Friday on President Dmitry Medvedev's Skolkovo project would extend tax breaks to potential tenants even before the research hub officially opens.

You Can’t Innovate by Decree

Eminent Western speakers put forward seemingly logical ideas on modernization and what Russia needs to do to modernize at the Global Policy Forum. But most of the speakers were naively overoptimistic on the country’s willingness and ability to implement change.

Ministries Debate 'Modernization' Tax

By Dmitry Kazmin and Filipp Sterkin / Vedomosti
The Finance Ministry hopes to raise revenue by taxing new equipment, as well as stolen or lost goods, but the Economic Development Ministry fears that the changes could interfere with modernization efforts.

Aiming to Capitalize On Fast Reactors

Workers in white uniforms carrying out maintenance work in the Beloyarsk nuclear power plant in the Sverdlovsk region.

Special Report: The development of efficient nuclear reactors has taken on fresh urgency since President Dmitry Medvedev put it on his innovation agenda. Abroad, Russia could sell its fast reactor technology. But there are worries about nuclear proliferation.

Alexander Zemlianichenko, Jr. / Bloomberg

Medvedev's 'Silicon Valley'

As part of President Dmitry Medvedev's plan to improve the country's economy through innovation investment, the Kremlin said it would establish Russia's version of Silicon Valley in the Moscow region town of Skolkovo. Trying to diversify the economy beyond gas, metals and other commodities, the plan is for the new center to focus on Medvedev's five priorities for modernization: energy, information technology, telecommunications, biotechnology and nuclear technology. Billionaire Viktor Vekselberg will oversee the center's creation, and Medvedev has pledged to attract well-known scientists to work in the innovation hub.



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