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Saint Petersburg International Economic Forum 2014

Intel to set up think tank in Russian high-tech Skolkovo in 1-2 years

Intel’s Vice President for Europe, Middle East and Africa, Christian Morales, says the project may be carried out in 2015-2016

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Business program of St. Petersburg Internation Economic Forum begins

ST. PETERSBURG, May 22. /ITAR-TASS/. US-based Intel, the world’s largest semiconductor chip maker, will establish a research branch in the Russian high-tech cluster Skolkovo in the Moscow Region within a year or two, depending on the readiness of offices and infrastructure, Christian Morales, the company’s Vice President for Europe, Middle East and Africa, said Thursday.

Skolkovo, conceived as an analogue to the US Silicon Valley, is a perfect initiative in which Intel is deeply involved, Morales said, adding that the company’s total investments in Russia have amounted to about $1 billion over 20 years, without considering injections into Intel Capital.

Intel signed an agreement in late 2011 on the cooperation with Skolkovo, which stipulated the creation of a research and development center by 2016 and the allocation of an official venture fund status to Intel Capital.

The project may be carried out in 2015-2016, Morales said at the St. Petersburg International Economic Forum.

Intel respects the sanctions regime, introduced by the US authorities against Russia. Meanwhile, the company seeks to support Russian business, Morales said.

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