The Russian government is spending billions of dollars to manufacture startup culture.
Skolkovo is a science park outside of Moscow that aims to be the “Russian Silicon Valley.” It is the country’s largest state-sponsored innovation hub, and it will receive around $4 billion in state funding between now and 2020.
Skolkovo Foundation president Viktor Vekselberg said he expects to raise more than $11 billion in private investment by 2020 and that Skolkovo will not need government financing after 2025. He also predicted that this “innovation city” will contribute $6.5 billion to Russia’s economy over that time
