Cisco (CSCO: Quote) has signed a strategy document outlining its Research and Development plans with the Skolkovo Foundation, marking an important milestone in Cisco's multi-year, $1 billion investment in sustainable innovation within the Russian Federation. The company said that the plan sets the way for to create a physical R&D presence in the Skolkovo Technopolis, and was announced at the Global Technology Symposium, in Menlo Park, California.
Cisco noted that the strategy reinforces its investment in the Skolkovo Project, an initiative supported by President Medvedev to create a technology and innovation hub on the outskirts of Moscow. Recently, the company received formal Skolkovo participant status, which enables the company to begin engineering activities and formally establish a physical presence.
Cisco targets to focus R&D in Skolkovo on high-impact areas of the business, including video and internal start-ups, using Skolkovo as the physical and virtual platform for innovation, which would contribute to transforming Skolkovo into one of the most advanced technology regions in the world.
by RTT Staff Writer
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