Skolkovo Innovation Centre

The Skolkovo Foundation is a non-profit organization founded in September 2010 by the Russian government with the objective of accelerating Russia's transformation from a resource-intensive to an innovation-based economy. To achieve this objective, the Foundation is overseeing the creation of the Skolkovo Innovation Center, composed of more than 1,800 high-tech startups, Skolkovo Technopark, the Skolkovo Institute of Technology (Skoltech) - a new graduate research University established in collaboration with the Massachusetts Institute of Technology - and Skolkovo city, located near Moscow. Together, these entities establish a vibrant ecosystem of technology innovation and entrepreneurship. The cumulative revenue of Skolkovo's startups reached $2,5 billion. They brought in more than $186 million in investment, creating 27,000 jobs and filing over 1,100 patent applications along the way. By 2020 over 2 million square meters of residential and office space will be built in Skolkovo with 35,000 people working daily in the Innovation Center.