Skolkovo plans to receive up to $1B of foreign investments per year

Skolkovo plans to receive up to $1B of foreign investments per yearThe amount of foreign investment in Skolkovo project by 2020 should amount to one billion dollars per year; the innovation center plans to get about half of the money from its venture partners, the head of the investment services of the Skolkovo fund Alexander Lupachev said.

The draft strategy of Skolkovo development till 2020 implies a gradual reduction of state budgetary financing to private investment. It is planned to increase the number of partner venture funds to 100 by 2020, now there are 45 accredited funds, including 17 foreign and 28 Russian.

Comparing these figures in Silicon Valley, Lupachev noted that there are over 500 funds there and they conclude more than three thousand transactions every year. Of course, Skolkovo can not yet show such results, but the goals that Skolkovo has set itself are achievable, Lupachev says.

It is expected that, from 2015-2016 years, more Skolkovo companies will receive proceeds from their own business, and not just from venture capitalists and the state.