Skolkovo Innovation Center

The Skolkovo Innovation Center is a high technology business area that is being built at Skolkovo near Moscow, Russia. The site aims to be a highly modern complex created to encourage science and technology companies. Although historically Russia has been successful with development of science and technology, its lack of entrepreneur spirit led to government intervention of patents and nonproliferation of Russian tech companies beyond the scope of regional service. This site is tasked with the development of technology start-ups but also marketing them correctly. As corporations and individuals become "residents" of the city, with proposed projects and ideas receiving financial assistance. Skolkovo was first announced on 12 November 2009 by then Russian president Dmitry Medvedev. The complex is headed by Viktor Vekselberg and co-chaired by former Intel CEO Craig Barrett.