New Frontier Capital Management Hong Kong held the signing ceremony for MOU regarding the innovation venture development with Skolkovo Foundation at Open Innovations Forum 2019 in Moscow, Russia. Mr. Drozdov, Chairman of the Board of Directors from Skolkovo Foundation and Mr. Usuki, CEO from NFCM Hong Kong signed the MOU during the ceremony.
Russia has been a science and technology nation with a high level of basic research such as aviation and space since the former Soviet era. In recent years, Russian government has promoted the innovation including innovative technology development, and implemented the policies such as granting tax incentives and subsidies.
Russian government has established Innovation Centers throughout Russia including Skolkovo and been striving to create innovation. NFCM will strive to build a global eco-system that connects the research institutes in Japan and abroad through this MOU with Skolkovo Foundation.

【Skolkovo Foundation Overview】
• Operating body of Skolkovo Innovation Center, a government-led accelerator organization called“Russia Silicon Valley”
• Skolkovo Innovation Center will support the growth and commercialization of startups with innovative technologies. 2,000 tech startups not only in Russia but also from all over the world have office and one of the Europe’s largest startup events will be held regularly.
• Skolkovo Foundation has built offices, research facilities for tech companies, the technical university (Skoltech : partnered with Massachusetts Institute of Technology in the US), and residential areas on a vast area of 400 hectares.
• Russian Government has scheduled to grant $ 3.5B (JPY380B) subsidies until the year 2020 for Skolkovo.

MOU Signing, NFCM Usuki CEO(left)and Mr. Drozdov,
Chairman of the Board of Directors of Skolkovo Foundation

MOU Signing Ceremony Photo, NFCM Usuki CEO(left)and Mr. Drozdov,
Chairman of the Board of Directors of Skolkovo Foundation