The Medvedev Effect On Finnish Startups - NordicHug In Particular

Meeting the Prime Minister of Russia is great, but can it have a profound effect on your business? Is this the type of publicity everybody dreams of? Apparently - yes. When Dmitry Medvedev met with Jyrki Katainen at the opening of the newly renovated and rebranded Startup Sauna Coworking Space, they were shown many innovations such as a smartphone cleaning solution by NordicHug and the "safe" rifle by SAKO.

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Russia's (Future) Silicon Valley

Russian media has recently been buzzing with news about the Skolkovo project, dubbed Russia’s Silicon Valley. Named after a business school nearby, Skolkovo will be a modern tech-hub for development and commercialization of new technology in the fields of energy, IT, communication, biomedical research and nuclear technology. Russia's president Dmitry Medvedev signed the decree to build Skolkovo already in 2009, building works will start in the second half of 2011 and construction is estimated to take 3-7 years. The overall budget for the project is $4-6 billion. Half of the sum would come from Russia's Federal budget, the other from co-financing agreements. Built on the outskirts of Moscow covering 3.7 km2, Skolkovo will be home for 40,000 people. Although Skolkovo currently exists only on paper, the project has already signed partnership deals with Nokia, Microsoft, Siemens and Rusatom, just to name a few.

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