Russia Pursues Starting Its Own Silicon Valley

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Haute Living Los Angeles March/April 2012

Russia Pursues Starting Its Own Silicon Valley

by Mary Nagle

The booming success of California’s Silicon Valley has gained worldwide fame, and now other countries are attempting to duplicate the hi-tech hotspot in their own cities.

Photo via etftrends.com

That’s why Russian tycoon Victor Kesselberg has taken an interest in Israel’s own Silicon Valley and is working with Israeli ministers to launch a new tech project, which will include a modern high-technology park near Moscow. Kesselberg hopes that the success Israel has had with its technology projects will provide the experience and knowledge needed to replicate that success in Russia.

Shalom Simchon, Israeli Minister of Industry, Trade, and Labor says the collaboration will help Russian-Iraeli trade as well. Russia is the world’s largest producer of oil and natural gas and the third largest exporter of aluminum. Last year, Israel exported $2.5 billion in goods to Russia, a 30% increase from 2009.

Kesselberg is one of the ten richest men in Russia and an appointee of Vladimir Putin to head a billion-dollar fund to advance Russia’s technological prowess. Kesselberg met with financial and research leaders in the interest of developing projects and exports in the field of medical equipment, drugs, agriculture, green energy and communications.

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Jul 20, 2011 1:42 PM

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