Russia, the "Silicon Valley" at the gates of Moscow

Work on the construction of a new science and technology center has been progressing since the Russian president, Dimitri Medvedev, appointed Renova magnate Viktor Vekselberg as project manager. The "Russian Silicon Valley", as the center was immediately christened, will be the first large laboratory in the country dedicated to technologies. The project was entrusted to Vekselberg in the hope that his presence could attract entrepreneurs and scientists, including foreign ones. Vekselberg's first step will be to select a co-manager from abroad. Meanwhile, the Nobel Prize for Physics (year 2000), Zhores Alferov, was nominated as scientific chief. The "Silicon Valley" will have an extension of 370 hectares, located just outside Moscow near the Skolkovo management school. The first state funding will arrive shortly and the first private companies will appear. But it will take about 6 years to see the full operation of the project. And Skolkovo will receive unprecedented tax breaks: for investors, exemption from taxes for up to 10 years and preferential conditions in tenders. Meanwhile, the public budget this year should guarantee funds for 4,6 billion rubles (over 100 million euros).