Putin calls for major overhaul of Rusnano, RVC, Skolkovo and others

President Putin of Russia called for a major overhaul of Russia?s so-called development institutions, including Rusnano, Russian Venture Company, Skolkovo and some others

President Vladimir Putin of Russia has called recently for a major overhaul of Russia?s so-called development institutions working to promote Russia?s new innovation economy, as their activity is not exactly in line with their fundamental goals, Russian news agency RIA Novosti reported his statement. The development institutions include Rusnano, Russia?s largest nanotech company; Russian Venture Company (RVC); the Skolkovo Foundation managing Russia?s most widely touted Skolkovo innovation hub outside Moscow; and some other large government-owned organizations. ?The activity of these development institutions has been fragmented lately to support a flock of separate projects with little or no focus on innovation. It?s not what we created these entities for,? Mr. Putin emphasized in his most recent speech at Russia?s Parliament. ?Those projects might just as well be good enough; however, the institutions were initially created to push a new innovation economy. We must re-establish in their work a strategic vector for technology breakthroughs and set the economy free of obsolete, inefficient and detrimental technologies,? the Russian president added...