Business | April 27, 2011

Ericsson commits to Russia's Skolkovo Innovation Center

Under a strategic agreement, Ericsson will play a key partner role with the non-profit Skolkovo Foundation in the development of the Skolkovo Innovation Center, a high-technology business park aimed at promoting the development of science and technology companies.
Russian Prime Minister Vladimir Putin announced the strategic agreement during an official visit to Sweden, where he held talks with Swedish Prime Minister Fredrik Reinfeldt and representatives of the Swedish business community.

Victor Vekselberg, President of the Skolkovo Foundation, says Ericsson's decision to play a key role in the future of Skolkovo is a major milestone for the project. "We are delighted the Skolkovo Innovation Center will have the opportunity to benefit from the tremendous industry leadership and expertise Ericsson brings to this very important project," Vekselberg says.

Ericsson CEO and President Hans Vestberg says: "This agreement is a continuation and expansion of what has historically been a partnership based on collaboration, a shared spirit of technological enthusiasm and one that emphasizes a localized presence of our combined efforts in Russia. We find the Skolkovo environment suits us very well in our development needs and by joining the Skolkovo initiative, we are taking another step in our 130-year relationship with Russia."

Ericsson's primary contributions to Skolkovo include:

- The creation of a project-oriented Ericsson research and development (R&D) center

- Support for further development of Skolkovo's R&D infrastructure through the establishment of an Ericsson Networked Society Lab

- Support for the development of Skolkovo University of Technology programs focusing on broadband-based cloud applications, intelligent transport solutions, machine-to-machine (M2M) and other technologies

- Support for the development of an efficient regulatory environment, institutions and management principles based on advanced solutions in corporate compliance, technical support, efficiency and safety.
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