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364417
Tue, 04/21/2015 - 14:23
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Russia-China business incubator to get off the ground in 1.5-2 years - vice premier

BEIJING, April 21. /TASS/. First companies will settle down in the Russian-Chinese business incubator at Russia’s Skolkovo Invasion Centre in a year-and-a-half or in two years, Russian Deputy Prime Minister Arkady Dvorkovich told reporters on Tuesday at a Russian-Chinese forum reviewing opportunities for small and medium-sized businesses. "I believe we will see the first companies arriving in a year-and-a-half or two years if we work together rather intensively," he said. "The Chinese side considers this project a good opportunity for advancing their entrepreneurs in Russia," Dvorkovich noted. "For us this is another element of our biggest innovation center," adding to the possibilities created by Skolkovo, he said. He said the government expected companies in the Russian-Chinese business incubator would specialize in information technologies, bio-technologies and new power production. Russia and China will set up a joint capital venture fund in the amount of $ 200 million, the Russian-Chinese forum on opportunities for medium-sized and small businesses was told on Tuesday. An agreement on setting up a new financial entity was signed by the Skolkovo fund of Russia and China’s Cybernaut Investment Group. Apart from the venture capital fund, the two countries will create a joint business incubator and a center of robotic technologies on the territory of Skolkovo center for innovations located southwest off Moscow. Skolkovo was founded in 2010 to become a 400-hectare business complex at Odintsovo in the Moscow region. It is home to more than 30,000 residents and employees, and is being created to encourage development and commercial growth for science and technology companies. Read more

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