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Medvedev envisions a "Russian Silicon Valley"
Russian President Dmitry Medvedev plans to spur Russia's economic modernization through the Skolkovo innovation center. Currently in the planning stage, the research hub will be at the heart of Russia's modernization strategy. Energy, IT, telecommunications, biotechnology and nuclear technology are the five "presidential" research priorities at Skolkovo. On his current American visit, President Medvedev will attempt to attract talent and private investment from Silicon Valley. Cisco already has committed to a partnership with Skolkovo. Siguler Guff & Company, a U.S.-based private equity firm with over $8.5 billion of assets under management, is investing $250 million in digital infrastructure and IT services for Skolkovo. Tax breaks, increasing foreign direct investment and privatization of some state enterprises are included in President Medvedev's economic modernization strategy.
Read more about the Sholkovo Innovation Center: http://eng.news.kremlin.ru/by-theme/10
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