[The photo taken on February 5, 2015, shows the Skolkovo Science Park under construction in Moscow, Russia. [Photo: Xinhua/Dai Tianfang]]

The Skolkovo Innovation Center, also known as Russia's Silicon Valley, is located in a suburb of Moscow.

It is looking spur innovation and groom new entrepreneurs in a bid to revive Russia's struggling economy.

Founded in 2010 and led by Russian Prime Minister Dmitry Medvedev, the science park aims to develop and commercialize advanced technologies. The Russian government has pledged to invest of US$ 1.9 billion in the project until 2020. With three Nobel laureates as consultants and over 1,000 companies and start-ups, the Skolkovo Innovation Centre is Russia's largest incubator of startups.

The core areas of research at the Skolkovo Science Park include space-related products, innovative medical equipment, biotechnology, clean energy, energy-saving products, nuclear technology, information technology etc. 

The science park is complete with start-up incubators, residential areas, universities and research and development centers of large organizations.

Its goal is to have 25,000 to 30,000 innovators working and living in the area by 2020. 

Authorities had planned to complete construction of the science park in 2014. But several international cooperation projects hit a snag amid Russia's economic crisis.