Russian Silicon Valley: Russia creates new high-tech development zone
Seeking to create its own version of Silicon
Valley, the Russian government is building a new "technology
incubator" zone. In September 2010, President Dmitri Medvedev signed
a new law to establish the Skolkovo Innovation Center, located 20 kilometers west of Moscow. It will provide incentives for private companies
to engage in research and development and commercial application of new
technologies, focusing on information technology (IT), space research, nuclear
energy, environmental protection and energy-saving.
A special commission will consider applications for participation; over 40 companies have already submitted proposals. The Russian
authorities also plan to provide top-notch infrastructure and facilities, andthey have already allocated over $133 million to the project.
the new legislation, companies accepted as "members" of the Center
will be entitled to a variety of special privileges, including a 10-year
holiday from income, value-added, and property taxes; reimbursement of customs
duties for certain imported equipment; and rights to operate under streamlined
accounting and technical regulations. There are even plans for a new
court to be located in the Center that will handle intellectual property disputes,
with the goal of reducing IP infringement. From: Russian Law News.
----- Barbara Olszowa