Skolkovo, Russia brings a new level

Russia's reputation in the field of technology is increasing. Ever since President Medvedev visited Silicon Valley last year, the technology industry in the BRIC countries has grown exponentially. Russian companies prove their skills in this business. Take a look at search engine Yandex: profit increased by almost 40% since the company listed its shares on the Stock Exchange on May 24.
So what else is good to hear the Russian borders, and how can I invest?

We were joined by former Intel CEO Craig Barrett and Igor Agamirzyan, director of "Russian Venture Company", located on the Access Russia conference in California. Gentlemen, welcome!
Mr. Barrett, convince me why investing in a high-tech enterprise of risk, and developing business in Russia — for you and for others is a good idea?

CRAIG BARRETT, former president of Intel: Russia has a rich history of education and research. The United States is well aware of this since the days of the Cold War — we are aware of their capabilities. Now we transfer this knowledge into a commercial environment. There's a lot of smart scientists who carried out a lot of good research. In the past they have not brought these capabilities to the commercial level. This is just engaged in the project "Skolkovo". It is trying to promote the Russian president.
Igor, you still hear about young entrepreneurs who are leaving the country because they are concerned about bureaucracy and corruption. How do you deal with that?
Igor Agamirzyan, director of "Russian Venture Company": I believe that the main direction for the creation of innovation in the Russian sphere of economy based on technology — to work on the conditions that make entrepreneurship in the technology sector is very attractive in the country. And the "Skolkovo", as already noted, Greg — one of the priority projects of the government, with the help of which will create an ecosystem of innovation and technology.
You know, all the business projects based on intellectual property, seeking a place with the most favorable conditions. The only way to change the direction of their movement — to create conditions at least as favorable as those in these places. So we are working with the Fund "Skolkovo", with the other institutions of the Russian economy in order to create a comfortable environment and infrastructure in order to deal with technology business in the country.
Mr. Barrett, if I go to the center "Skolkovo" — a place that is ambitiously trying to turn Russia into an analogue of the Silicon Valley, I see today?
Craig Barrett: In general, the vast green field. In the background, surrounded by greenery you will see an attempt at the Massachusetts Institute of Technology (MIT) to create the largest institute of science and high technology, in terms of functionality is not inferior to MIT. You'll also see how internet technology is now reaching to students across Russia. You'll see how approximately 20 major international corporations: Google, Cisco, Intel, Microsoft, and so on — are beginning to build their research labs in the area.
You will also see the existing Business School "Skolkovo", created by Stanford example: it is international, it is taught in English. It already exists. So that the infrastructure is beginning to develop, but you will not see the entire complex, built at once. This will require a couple of years.
Mr. Barrett, thank you for coming to us today. Mr. Agamirzyan, thank you also. [/ Url]

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