Medvedev's Silicon Valley Dreams Won't Happen Overnight
If anyone thought that Russian President Dimitry Medvedev was engaging in an empty P.R. exercise when he hosted a delegation of U.S. venture capitalists last month in Moscow, this week’s trip to the Bay Area should make it clear he’s really serious about replicating Silicon Valley’s culture of innovation and entrepreneurism in Russia.
Of course, it took decades for the sleepy towns and fruit orchards of the southern Bay Area to transform themselves into the tech mecca they have become.
“These are just the first steps. I hope they are realistic about how long this will take,” said Brian Jacobs, managing director of Emergence Capital Partners, who was one of the 20 or so VCs who went to Moscow last month to build ties with the Russian government and business community and provide feedback on the country’s plans to move aggressively toward a technology-based economy.
