Skolkovo innovation center

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  • 1.Skolkovo Innovation Center by Irem M, Jeremy G, Jonathan L

2. Clusters Considered Krakow Technology Park Skolkovo Innovation Center Singapore Asset/Wealth Management Cluster 3. Video 4. Agenda What is Skolkovo Innovation Center (SIC)? Economic & Political Impacts The Future of SIC 5. What is SIC? by Jonathan Loo 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. Skolkovo Innovation Center 8. Strategic Development 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. Sub-Clusters at SIC 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. Economic & Political Impacts by Irem Marasligil 13. Economic & Political Impact Promote technology transfer from around the world Stimulate innovation and entrepreneurship in RussiaThe Skolkovo Foundation hopes that, ultimately, the new center will help modernize Russias economy, transforming it from an economy based on natural resources (oil and gas) to one based on innovation and scientific development. 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. Economic & Political Impact 16. The InstituteThe 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. 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. 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. Economic Impact running nearly 1,000 startups has created 12,000 highly skilled jobs o each job equals 10 ordinary jobs o contribution to Putins 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. The Future of SIC by Jeremy Gan 21. Political TurmoilVladimir PutinDimitry Medvedev 22. Controversies 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. 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 Buto Should Skolkovo be turning to the East to maximize Russian trade and economic cooperation with Asia instead? 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. Made In Russia? Most Startups are NOT incorporated in Russia o Registered in other countries with more business and investor friendly corporate law structure Cypruso Proximity o Superior intellectual property protection o Long-term adhesion to those laws 27. To Be Considered A Success... Create and strengthen a functioning system of innovationo Public and private sector interact, exchange knowledge, and learn from technologies Encourage the creation of start-upso Act as specialised suppliers for other firms nationally and globally 28. Cont. Innovation city MUST avoid predators in the Russian stateo Come clean from corrupt officials who make large individual gains at the expense of public money 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 dont understand 30. Distant Future 31. Questions?