Founded in 2010 and led by Russian Prime Minister Dmitry Medvedev, Skolkovo Foundation aims to develop and commercialize advanced technologies.
Russia’s largest technology hub, Skolkovo Innovation Centre, plans to incubate the start-up industry in India. Founded in 2010 and led by Russian Prime Minister Dmitry Medvedev, Skolkovo Foundation aims to develop and commercialize advanced technologies.
Starting with areas like big data analytics, biomedical devices, and Internet of Things (a hub where devices communicate with each other intelligently) Skolkovo is also looking forward to incubate in areas like energy management and space technologies.
“We are trying to support the core technologies, especially in the space where venture capitalists are not interested”, quoted Igor V Bogachev,vice president, Skolkovo Foundation. The company is based in Moscow and spread over 400 hectares. Over the last few years, Skolkovo has incubated companies that have yielded $600 million in revenue and created more than 15,000 jobs.
According to researchers, India has become the topmost destination for overseas accelerators and incubators to provide counselling and access to capital. Firms that deal in businesses ranging from personal healthcare to networking services are joining the list of incubators in Indian start-up industry.
With the growth of start-up industry in India, it comes as no surprise that companies from over abroad are willing to invest and set up incubators in India.