Is this just an exit strategy for this institute not unlike industry that is heading abroad? Do you have your exit strategy in place?
Massachusetts Institute of Technology has launched a new venture in Russia, announcing Wednesday an agreement with the Skolkovo Foundation, representing the Russian Federation, to "evaluate options for collaboration in education and research," according to a news release issued by MIT.
Russian President Dmitry Medvedev was on hand in Washington DC to sign the agreement.
MIT and the Skolkovo Foundation together will assess opportunities for MIT to work with Russia's top universities and research institutes on educational and research activities. Establishing a network of joint research laboratories with researchers from MIT and Russia might be one outcome, according to the press release. The creation of a new academic institution in Skolkovo, a suburb of Moscow with a special economic development zone, might be another.
MIT will also evaluate a participation in the creation of an "innovation city"at Skolkovo, as one of the project’s partners, the news release said. The Russian Academy of Sciences, Rusnano Corporation, Russian Venture Company, Bauman Technical University, and others already are working on the innovation city project.
Indeed, the Skolkovo Foundation is a nonprofit organization with direction from Medvedev to create the proposed science and technology city in Skolkovo. Among the city's elements will be a university, research institutions, centers of collective usage, business incubator, technology transfer and commercialization office, corporate offices and research and development centers, as well as housing and social infrastructure, according to the press release. Skolkovo city is governed by laws that provide residents with incentives for running their businesses.
Yes, we in this country once had incentives for creating and running a business now didn't we?