Russian Hi-tech Hub Approves Participants Criteria

MOSCOW, December 24 (RIA Novosti) – The Skolkovo Foundation, the non-profit agency responsible for the hi-tech hub near Moscow, has laid down a set of criteria for participating companies, Skolkovo Foundation President Viktor Vekselberg said on Monday.

“We have discussed and adopted a set of rules to oversee the activities of our companies,” Vekselberg said in an interview with the Rossiya 24 channel.

Skolkovo resident companies enjoy special economic terms for running their businesses under a special law. So far, about 700 small-sized companies have that status.

Vekselberg said the Skolkovo Foundation will most likely have to deal with instances when resident companies abuse their status.

“That’s why we developed and approved regulations, under which certain companies that don’t follow the criteria will be stripped of their resident status,” he said. “First of all, it is directed against companies whose activities do not correspond with the obligations they had undertaken.”

He said the rules were approved during the Skolkovo Foundation Council meeting in Munich last week.

The head of the Skolkovo foundation also said the fund will employ “account managers,” who will help resident companies to streamline and boost their business performance.

The Skolkovo high-tech development park is a key part of the Russian government’s drive to modernize Russia’s commodity-dependent economy. The center is intended to be an ultra-modern science community for the development and commercialization of new technologies in energy, information technology, communications, bio-medical research and nuclear technology.


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