Rebecca A. Fannin, an editor, author and expert on global innovation and investment trends, shares her impressions of the Open Innovations forum with Forbes.com.
At the Open Innovations Forum this week in Moscow, Russia and China linked up to further boost Skolkovo Ventures, an investment offshoot of Russia's Silicon Valley mega tech project Skolkovo on the outskirts of the city. The high-tech park sports an ultra-modern huge convention space, a conference arena for high-level meetings, a science and tech university and a slew of facilities under construction as Skolkovo evolves.
A Yandex driverless taxi driving inside the Skolkovo innovation centre. Photo: Sk.ru.
The Russian-China Investment Fund for Regional Development has just signed on as an anchor investor in two new funds at Skolkovo Ventures with the sum of $300 million.
The Russian-China fund, backed by the China Investment Corp. and the Russian Direct Investment Fund with $2 billion in commitments, will also pour money into Skolovo's three funds for emerging companies in information technology, 4.0 industry and agriculture, which each have $50 million in capital currently.
Read the full article here on Forbes.com, where it was originally published.