Earlier this month, as the Open Innovations forum gathered thousands of Russian and foreign participants on the outskirts of Moscow, the Skolkovo Foundation signed agreements with Chinese players.
As reported by Skolkovo news portal Sk.ru, the Russian tech hub agreed with Chinese telecoms giant Huawei to set up a joint innovations center. The R&D effort will develop algorithms for 5G wireless systems and the Internet of Things, as well as artificial intelligence solutions to process media including images, sound and video.
On its side, the Skolkovo Institute of Science and Technology (Skoltech) will set up a joint laboratory with Huawei, focusing on artificial intelligence and machine learning, the Internet of Things, and quantum computing, among other things.
In another sign of Chinese-Russian cooperation, the Russia-China Investment Fund (RCIF) pledged to invest 1.5 billion rubles (approximately $23 million at the current exchange rate) in the three funds of Skolkovo Ventures.
An investment platform launched last year by Skolkovo Foundation, Skolkovo Ventures currently comprises three funds, devoted respectively to digital, industrial and agricultural technologies.
The RCIF will be involved in the creation of in two new Skolkovo Ventures funds, putting a total of 300 million rubles ($4.6 million) into them. Scheduled for launch by the end of 2019, the new funds will be dedicated to “special situations” and “hi-tech vertically integrated companies,” aiming to create new business opportunities for both Russian and Chinese high-tech companies.
‘Attracting international investors and providing access for Russian venture companies is a planned stage of the development of Skolkovo Ventures and of the overall ecosystem of the Skolkovo innovation centre,” Vasily Belov, CEO of Skolkovo Ventures, told Sk.ru.
“We are confident that this stage of cooperation with our Chinese partners is only the first step in the partnership for both sides on the venture investment market.”
The RCIF was launched in 2012 by RDIF, Russia’s sovereign fund, jointly with China Investment Corporation (CIC). In 2016, the RCIF agreed with Chinese TUS Holdings to establish a joint Russia-China Venture Fund (RCVF).
Several other large Russian and Chinese organizations announced over the past years a series of initiatives to develop high-tech projects involving the two countries. Through these programs, Russia hopes to facilitate technology transfers from both sides and increase the share of high-tech in Russian export. The experience of China’s public policies to support innovation may also be a source of inspiration for Russian policy makers.
