Russia District Skolkovo To Host 2014 G8 Summit - Daily Brief
Apr 12 2012 4:48pm EDT
The Skolkovo Foundation under construction on September 20, 2009.
Image: Skolkovo / Flickr
Russia's version of Silicon Valley is set to host the 2014 G8 Summit, according to a report by Ria Novosti, a Russian publication.
After Russian President Dmitry Medvedev earlier this month said he thought it was a good idea that Russia's Skolkovo city host the summit, today Vladimir Kozhin, his chief of staff, confirmed that the decision was official.
Ria Novosti reported:
Kozhin said Skolkovo was more than "an appropriate choice" as it would help the Russian high-tech hub gain world acclaim and give impetus to the hub's development.
Skolkovo, being set up just outside Moscow, will focus on research in five priority spheres: energy, information technology, communications, bio-medical research, and nuclear technology.
Kozhin also said that Russia will host a summit of the G20 group of advanced and leading emerging economies at the Constantine Palace near St. Petersburg in 2013.
Skolkovo has been making a name for itself as a friendly competitor to its better known counterpart Silicon Valley.
Just two weeks ago, with the support of both the Russian president and the U.S. president, Silicon Valley hosted delegates from Skolkovo to discuss how technology creates economic competition and cultivates innovative spirit and to sign a $20 million deal with Bessemer Venture Partners and a $1 billion dollar deal with Cisco.
In an email provided to Portfolio.com, Skolkovo Foundation president Viktor Vekselberg, who signed the deal with Cisco, on April 6 said, "For Skolkovo, the summit will mean a great deal. Worldwide attention surrounding the G8 summit will give Skolkovo the opportunity to show what the project means for Russia, a project that reflects the country's initiative to move the Russian economy towards innovative development."
And what a chance it is. Russia is the newest addition to the G8 Summit, a forum for eight of the world's most influential economies, and to host the event will give these leaders a chance to see firsthand some of what is going on in this little town that until recently few had even heard of.
Michael del Castillo is a freelance reporter for Portfolio.com.
