In the 1980s, Mikhail Gorbachev initiated Perestroika, a political-economic reform that transformed Russia from a government-planned economy to a Western-oriented market economy. Today, President Medvedev is putting his weight behind an almost equally colossal initiative – Skolkovo, which is perhaps the world’s largest government-backed entrepreneurial hot-spot, built from scratch within a global context. Although it is still unclear whether Skolkovo will achieve its next milestone and become a prosperous hub of innovation, one thing is certain – Russia will never be the same after the globalization and modernization that the Skolkovo initiative brings. Indeed, Skolkovo is the new Perestroika.
The government has allocated $2.8 billion for the Skolkovo Foundation, which was established “to create a special environment that will concentrate intellectual resources and encourage free creativity and scientific inquiry.” Although this undertaking will not likely result in a Silicon Valley look-alike, it is clearly one of the most significant steps that Russia has taken toward modernization and innovation to date. This outreach to the global technological innovation community will create Russia’s globalized cluster – a hub of entrepreneurial activity built on Moscow’s local talent, wealth and favorable regulation, with global reach and scale.
To read the full, original article click on this link: Skolkovo is the New Perestroika | Modern Russia
Author: Dan Grotsky
