Skolkovo innovation center

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Skolkovo innovation center

  1. 1. Skolkovo Innovation Center by Irem M, Jeremy G, Jonathan L
  2. 2. Clusters Considered Krakow Technology Park Skolkovo Innovation Center Singapore Asset/Wealth Management Cluster
  3. 3. Video http://vimeo.com/36998580
  4. 4. Agenda •  What is Skolkovo Innovation Center (SIC)? •  Economic & Political Impacts •  The Future of SIC
  5. 5. What is SIC? by Jonathan Loo
  6. 6. The Cluster Principle ‘Eco-system for innovative companies’ Primary objective: coordinating all activity in a certain direction Interconnectivity between the university, large companies, new initiatives/startups support
  7. 7. Skolkovo Innovation Center
  8. 8. Strategic Development
  9. 9. Residents at SIC 20-30% acceptance rate Benefits: Resident Status & Grant → Skolkovo Foundation, Rusnano, Rostelecom, Russian Venture Company, ITFY → Research institutes SOU and SIT
  10. 10. Sub-Clusters at SIC
  11. 11. Why Russia? 100 billionaires 8th largest economy in the world Largest internet/mobile market in Europe Capital investments from both Domestic/ international firms abroad Dedicated human capital
  12. 12. Economic & Political Impacts by Irem Marasligil
  13. 13. Economic & Political Impact •  •  Promote technology transfer from around the world Stimulate innovation and entrepreneurship in Russia The Skolkovo Foundation hopes that, ultimately, the new center will help modernize Russia’s economy, transforming it from an economy based on natural resources (oil and gas) to one based on innovation and scientific development.
  14. 14. Economic & Political Impact Skolkovo was set up as an innovation playground with its own laws, customs and immigration rules and other regulations •  •  achieve quick wins in terms of establishing new technology companies and developing a number of new technologies in Skolkovo itself develop and test a business environment that could later be expanded out to the rest of the country
  15. 15. Economic & Political Impact
  16. 16. The Institute The Massachusetts Institute of Technology has entered into a three year agreement to develop the new graduate university Plans to enroll 1,800 graduate students Sent an initial class of 21 students for a year of study abroad
  17. 17. The Institute •  Legislation requiring state enterprises to set aside a percentage of their revenue for The Skolkovo Institute of Science and Technology (SKTech), depending on the profitability of its industrial sector Plan → energy sector - 5% Realization → only JCJ Russian Railways contributed 1%
  18. 18. Investments Skolkovo is making selected investments in foreign technology companies ⇒ Palo Alto– based firm Jelastic which has created a cloud platform for Java applications ⇒ received US$1 million in funding from Skolkovo and would establish a secondary office there to develop security features enabling governments and corporations to use the platform
  19. 19. Economic Impact •  •  •  •  running nearly 1,000 startups has created 12,000 highly skilled jobs o  each job equals ‘10’ ordinary jobs o  contribution to Putin’s program to create 25 million Russian jobs by 2020 25% of Russian patents came from Skolkovo first eight months of 2013, more than $43.1 million was invested in Skolkovo startups
  20. 20. The Future of SIC by Jeremy Gan
  21. 21. Political Turmoil Vladimir Putin Dimitry Medvedev
  22. 22. Controversies
  23. 23. Irregularities •  “Out of control and extravagant” spendings of •  government funds - $3.9 billion 17 grants for a sum of $113 million distributed without any expert review o  Members of grant commision, including foundation president, found benefiting from lax grants issuing
  24. 24. West vs East Influence •  Skolkovo is Western-oriented innovation center o  Partnership with MIT o  Active recruitment of staff, students, and companies from Europe and North America •  But… o  Should Skolkovo be turning to the East to maximize Russian trade and economic cooperation with Asia instead?
  25. 25. Long or Short Term Solution? •  “Potemkin village” or Catalyst For Change? •  Weak laws, heavy taxation, fickle government •  support Tax break and “Startup Visa” a joke o  Too short-lived (lasting only 5 - 7 years) o  Russian law would intervene again after
  26. 26. Made In Russia? •  Most Startups are NOT incorporated in Russia o  Registered in other countries with more business and investor friendly corporate law structure •  Cyprus o  Proximity o  Superior intellectual property protection o  Long-term adhesion to those laws
  27. 27. To Be Considered A Success... •  Create and strengthen a functioning “system of innovation” o  Public and private sector interact, exchange knowledge, and learn from technologies •  Encourage the creation of start-ups o  Act as specialised suppliers for other firms nationally and globally
  28. 28. Cont. •  Innovation city MUST avoid predators in the Russian state o  Come clean from corrupt officials who make large individual gains at the expense of public money
  29. 29. Challenges Faced •  Birth of successful global tech companies •  Make $$$ < Spend $$$ •  Turn ideas into profitable solution •  Trust from decision makers o  Russian politicians, in general, are distrustful of innovations they don’t understand
  30. 30. Distant Future
  31. 31. Questions?

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