By Madhubanti Rudra TMCnet Contributor
The Russian government is putting great deal of reliance on Cisco in setting the country on the fast lane of technological innovation.
Recently, Cisco Chairman and CEO John Chambers (News – Alert) held a discussion with President of the Russian Federation Dmitry Medvedevin in a high-profile meeting. They were reported to have discussed a wide-ranging series of collaborative initiatives that will underpin the Russian Federation’s technology innovation agenda. During the meeting, Cisco (News – Alert) made a firm commitment to invest $1 billion to drive entrepreneurship and sustainable innovation in Russia as a partner in achieving the country’s goals. Cisco officials have informed that the world leader in networking has taken up a five phase collaborative approach. The collaboration will continue over this next decade and the $1 billion investment will be made through the span of this period. The five phases will run in parallel, informed the company. During the meeting an important MOU was signed between John Chambers and Russian business tycoon, Viktor Vekselberg. The memorandum of understanding underlines Cisco’s firm commitment to the Skolkovo Project as the platform for this innovation initiative. After coming into power, President Medvedev sent a strong message to the world that his government will focus on economic development and modernization of the country. The Skolkovo Project plans, which were publicly announced last March by the President, is a part of the President’s developmental ambitions. The Skolkovo Project involves developing a technology and innovation hub in Russia. The Skolkovo project will focus on areas in information and communication technology as well as biotech, energy and nuclear technology. The project will be managed and financed by a consortium of public and private organizations in Russia. According to the MoU, Cisco will share with the Fund global best practices and expertise in the creation of innovation centers and put forward this expertise to the development of the Skolkovo Project. Special emphasis will be put on the creation of a culture of innovation, collaboration and replicable business models. The first phase of collaboration will revolve round attracting talent, ideas and investment in partnership with the venture capital community. As part of its second phase of establishing an innovation and venture platform in the country, Cisco announced a firm commitment to establish a dedicated physical presence in Skolkovo. As part of phase three, Cisco is now extending its dedicated Cisco research and development capability in Russia. Phase four will focus on collaboration in the areas of go-to-market models for the creation and success of start-ups in partnership with the Russian venture capital community. In the fifth phase, Cisco will build a model for partnering with existing businesses, venture capital and technology companies in Russia. “During the next decade Russia should become a country in which the welfare and the good quality of life is ensured by its intellectual, rather than natural, resources, its innovative economy. The Skolkovo Project embodies the focus that we are placing both on innovation and public private partnership and we welcome the significant commitments that Cisco is making with us today to support Russia’s future,” The Russian President stated.
Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.
Edited by Marisa Torrieri
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