Skolkovo Foundation

Skolkovo Foundation is the principal agency responsible for the Russian Skolkovo Innovation Center, a scientific and technological centre for the development and commercialisation of advanced technologies. It is a non-profit organization founded in 2010 and charged by Russian President Dmitry Medvedev with creating a new science and technology development centre in the Moscow suburb of Skolkovo. The Skolkovo innovation system comprises the Skolkovo Institute of Science and Technology (SkolTech) established in partnership with MIT, corporate R&D centres, business incubators, private seed and venture funds, and start-up companies, as well as residential space and social infrastructure. It is a city with over 30,000 residents and employees.

Skolkovo gave a grant of $780,000 to a company called Workle, which is a service that people can use to start their own Internet-based careers, in 2012. As a result, Workle increased its remote workforce by over 500 percent, according to Yekaterinburg News.

Skolkovo is governed by a special law which gives its resident companies special economic conditions for running their businesses. over 1400 companies from 52 regions of Russia have received the status of Skolkovo resident.

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