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GLOBAL INNOVATION PARTNERSHIPS 2010 SILICON VALLEY TRADE MISSION TO RUSSIA

A delegation of US venture capitalists and Silicon Valley entrepreneurs headed by California Governor Arnold Schwarzenegger visited Russia Oct 10-14th.

The delegation took part in Global Innovation Partnerships Forum, organized by Rosnano, Russian Venture Company (RVC), Skolkovo Foundation, Global Technology Symposium, Tatarstan Republic Venture Investment Foundation and Silicon Valley Bank.

The forum was aimed at turning Silicon Valley venture capitalists experience into creating global tech businesses in Russia.

About the forum

Elvira Nabiullina

Minister of Economic Development of the Russian Federation.

Dear Colleagues,

On behalf of the Russian Ministry of Economic Development, I am glad to welcome the organizers of and participants in the Global Innovation Partnerships Forum.

The Russian economy is going through a very interesting and, in many respects, symbolic period. We must rethink our main areas of development, find new approaches and solutions, and set new priorities. Now more than ever, the Russian economy needs to modernize, and this challenge is at the top of the agenda of the Russian leadership.

The transition from a natural resources-based economy to an innovation-based economy requires new tools for implementing Russias economic development strategy. One such tool is efficient cooperation between government authorities, entrepreneurs, and the academic community. In this regard, we have placed special emphasis on stronger international cooperation and transparent and committed collaboration among entrepreneurs, academics, and government officials with their foreign counterparts to launch joint projects and exchange knowledge and experience.

We are aware that, in todays world, leadership is impossible without an innovation-oriented approach to the economy. The driving force of this process in Russia must be led by the private sector, backed by government support in key industries. This is why state development institutions such RUSNANO, Russian Venture Company, and the Skolkovo Foundation have organized the Global Innovation Partnerships Forum.

The Russian Ministry of Economic Development attaches great importance to the participation of venture capitalists from the United States. We want to thank them for their visit. We also would like to thank the organizers of this event for the interesting and informative program.

We are confident that a professional dialogue between the forum participants will hasten the building of a knowledge-based economy in Russia.

I wish all participants every success and fruitful cooperation.

Elvira Nabiullina,
Minister of Economic
Development of the Russian Federation

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