Rice Endorses Skolkovo

Former U.S. Secretary of State Condoleezza Rice endorsed the Skolkovo innovation hub on Friday during a visit to the Moscow School of Management Skolkovo.

"I think that Skolkovo has a major role to play not just in the transformation of Russia &mdash which would be important in its own right — but really in the transformation of the global environment and economy because Russia is a very important part of that global environment," Rice said during a round table entitled "modernization in the global historical context."

In attendance were students of the Skolkovo management school, Stanford University MBA students, Skolkovo business school president Ruben Vardanyan and Skolkovo Fund president Viktor Vekselberg.

Rice, who is now a Stanford University political economy professor, also said Russians are often pioneers of idea generation but lag behind in capitalizing on those ideas and bringing them to market.

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