(3BL Media) San Jose, CA and Moscow – March 29, 2012 – Cisco today announced the signing of a strategy document outlining its Research and Development plans with the Skolkovo Foundation. This marks an important milestone in Cisco's multi-year, $1bn investment in sustainable innovation within the Russian Federation. The plan sets the way for the company to create a physical R&D presence in the Skolkovo Technopolis, and was announced at the Global Technology Symposium, in Menlo Park, California.
The strategy reinforces Cisco's investment in the Skolkovo Project, an initiative supported by President Medvedev to create a technology and innovation hub on the outskirts of Moscow. Cisco recently received formal Skolkovo participant status, which enables the company to begin engineering activities and formally establish a physical presence.
Cisco aims to focus R&D in Skolkovo on high-impact areas of the business, including video and internal start-ups, using Skolkovo as the physical and virtual platform for innovation. This will contribute to transforming Skolkovo into one of the most advanced technology regions in the world.
The initial Memorandum of Understanding between Cisco and Skolkovo was signed in June 2010 and contemplates five concurrent collaborative phases over the next decade: the first phase consists of engaging with the VC community and talent development; the second phase establishes a physical presence in Russia; the third phase extends a dedicated Cisco R&D capability within Russia; the fourth phase focuses on go-to-market models; and the fifth phase builds a partnering model with local companies. Today's strategy advances Cisco's planned commitments in the concurrent second and third phases.
This strategy follows Tuesday's successful first meeting of the Innovation Working Group of the U.S.-Russia Bilateral Presidential ..., co-chaired by U.S. Under Secretary of State for Economic Growth, Energy and Environment Robert Hormats and Russian Presidential Advisor Arkady Dvorkovich, and held at Cisco headquarters in San Jose, California. The goals of the meeting are well aligned with Cisco's plans to invest strategically around the globe to drive innovation in emerging and developed economies.
Additional News Highlights of Cisco's Investments in Russia:
Marthin De Beer, SVP Video and Collaboration Group, and Executive Sponsor for the Skolkovo Project at Cisco:
“Establishing a physical presence in Skolkovo will mark a major step forward in delivering on the phased plan we initiated during the Presidental visit to San Jose in June 2010. We are not only creating employment opportunities for the brightest talent in the Russian innovation economy, but also expanding Cisco’s global R&D efforts and building the foundation for our continued growth. Skolkovo is fast becoming a global hub for innovation and we are excited to be able to play a central role in its development and future success.”
Skolkovo Foundation President Viktor Vekselberg:
"Innovation in the Russian economy is rapidly gathering pace through our continued partnering and investment with Cisco. The creation of new high-tech, high-value jobs in the local economy solidifies the commitment of both Cisco and Skolkovo to drive innovation in Russia, while concomitantly building upon the competitive strength of Russians as it applies to computer science and mathematics. Here, as in other projects, Skolkovo is acting as a pan-Russian portal to technological excellence and young talent of relevance to our commercial partners."
About the Skolkovo Foundation
The Skolkovo Foundation has the mandate from the Russian Government to help accelerate the transformation of Russia from a resource-intensive to an innovation-based economy through strategic partnerships with leading scientists and corporations (currently numbering over 369 companies and start-ups). The Foundation aims to strengthen the links between Russian and international science, technology, education, entrepreneurship and investment communities. To achieve this objective it is overseeing the creation of the Skolkovo Innovation Centre composed of five R&D clusters, a Technopark, the Skolkovo Institute of Technology (a new graduate research University established in collaboration with the Massachusetts Institute of Technology) and Skolkovo city, located near Moscow. Together these entities will establish a vibrant eco-system of technology innovation and entrepreneurship. The Foundation is a non-profit organization founded in May 2010 by the Russian Government with a grant of USD 5 billion. For more information: http://www.sk.ru/en
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