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Edition: U.S. Article Comments (1) Save Email Print Reprints Most Popular Most Shared UPDATE 1-U.S. Gulf state shrimpers sue BP over oil spill 29 Apr 2010 WRAPUP 3-U.S. Coast Guard sets oil slick ablaze 28 Apr 2010 Police barred from penis enlargement 23 Apr 2010 Stocks rise, euro wavers; await Greek rescue news | Video 3:00am EDT U.S. starts criminal probe into Goldman: source 29 Apr 2010 Judge from Montana interviewed for Supreme Court 29 Apr 2010 Thai hospital near protest evacuates patients | Video 29 Apr 2010 White House defends offshore drilling plan 29 Apr 2010 Fearful British parents keep kids closer than ever 29 Apr 2010 Apple's Jobs slams Adobe's Flash technology 29 Apr 2010 Thai "red shirts" vow to intensify campaign | Video 25 Apr 2010 Rio Tinto China trial verdict due Monday 28 Mar 2010 UPDATE 1-U.S. Gulf state shrimpers sue BP over oil spill 29 Apr 2010 Women to start serving on U.S. Navy submarines 29 Apr 2010 U.S. starts criminal probe into Goldman: source 29 Apr 2010 Iceland has longest-lived men, U.S. scores poorly 29 Apr 2010 UPDATE 1-US Senate Democrats propose immigration reform 29 Apr 2010 28 detained in beach "gigolo" raid 28 Apr 2010 Armani opens first hotel in Dubai, plans Milan next 27 Apr 2010 FACTBOX-Five areas of Greek budget waste 28 Apr 2010 Russia's Medvedev pushes high-tech project Denis Dyomkin MOSCOW Thu Apr 29, 2010 6:07pm EDT Related News Russia's Vekselberg to leave as TNK-BP director Wed, Apr 28 2010 Book Talk: Putin-Khodorkovsky battle a "bar room brawl" Wed, Apr 28 2010 Russia's Medvedev says may stand again in 2012 Sat, Apr 24 2010 Caucasus insurgency casts pall over Russian Olympics Mon, Apr 19 2010 FEATURE-Caucasus insurgency casts pall over Russian Olympics Mon, Apr 19 2010 Russia's President Dmitry Medvedev chairs a meeting with state officials in the town of Istra outside Moscow, April 22, 2010. Credit: Reuters/Alexander Natruskin MOSCOW (Reuters) - President Dmitry Medvedev said on Thursday that Russia must move fast to create a home for innovative companies in high-tech industries, pushing a project he hopes can be a showcase of his presidency. Technology Medvedev urged bureaucrats and business leaders not to waste time in developing a major business park outside Moscow that would provide tax breaks and other state support to companies in a bid to wean Russia away from reliance on energy exports. "The process should not be stretched for years. It is not preparations for 2014 Olympics, everything should be fast and determined," Medvedev said. "We want this project to be full of life, not still-born." Medvedev's reference to the Olympics linked his pet project with one of the most ambitious undertakings of his predecessor, Vladimir Putin, who has staked his reputation on the success of the 2014 Winter Games in Sochi. Medvedev, struggling to emerge from Putin's shadow, has pitched Russia's answer to Silicon Valley as a crucial part of his effort to modernize the economy of a country that coasted on oil revenues during Putin's presidency. His remarks came as speculation mounts over how Russia's ruling tandem will handle a 2012 presidential vote -- whether Putin will seek to return to the Kremlin, support a second term for his protege or look for another option. Putin provided crucial support for Russia's bid for the Olympics and is overseeing construction in Sochi, a Black Sea resort where most venues must be built from scratch. RED TAPE Russian officials in charge of Olympic preparations complain that even with the huge powers at hand they are still facing red tape and corruption. Critics say Medvedev's high-tech city project will face the same hurdles. Both Putin and Medvedev have indicated they could run in 2012, but have been vague about their plans. Their statements are scrutinized for signs of a rivalry real enough to shake the political stability cherished by both leaders ahead of the vote. Medvedev owes his position to the popular Putin, who was constitutionally barred from seeking a third straight term in 2008 and steered Medvedev into the presidency instead. Medvedev has often said the two work well together but has occasionally made remarks widely interpreted by political observers as veiled digs at Putin. Medvedev appointed Viktor Vekselberg, an energy and metals magnate who owns a stake in leading Swiss technology firm Oerlikon, to oversee the high-tech project at a site west of Moscow which already hosts a business school. Medvedev said that the world's largest chip maker Intel Corp's Chairman Craig Barrett will co-chair the hub's supervisory council while Nobel-prize winner biochemist Roger Kornberg will co-chair the scientific council. The technology hub aims to give state backing to companies to help them develop selected innovative products in five priority sectors: energy, IT, telecommunications, biotech, and nuclear technologies. The city will live under its own laws and police, and its companies will enjoy tax breaks for the first 10 years. (Writing by Gleb Bryanski and Steve Gutterman) Technology Comments See All Comments (1) | Post Comment Apr 29, 2010 7:02pm EDT Chief Technology Officer of FirstChoiceWebDesigns.net, Tina Landrith-Mills, is a veteran of the dotcom era. She began her first company at home on 386 with 8 megs of ram and an idea. Her first company is listed on the Nasdaq today. She speaks to us about a ‘New Dot Com Era.’ Tina Landrith-Mills: Have you noticed how small the Internet has become lately. We have Facebook, and if Facebook were a country it would be the fourth largest Country in the world. However, like many companies in the dot com era, facebook began with the birth of an idea and then some connections. We all had ideas for a company during the dot-com era – what happen to that innovative thinking? Venture Capitalist pulled out overnight and we stop thinking. However, developing a dot-com business has never been easier due to that wealth of free applications that are already present on the web. Why reinvent the wheel? Venture capital money is not needed in today’s technology race to get started on a brilliant idea. The problem with the dot com era is that before that period we had to invent something and prove that invention before it recieved financing … during the dot com era the cart was placed before the horse in that regard. Havard grads for example were given millons of dollars to create an invention before proving profitability. Athough they had a fine education they did not know much about the new technical workforce they would have to manage. Tina Landrith-Mills: Well the first step is to go back to the birthingroom of great ideas. Once ideas are thought out there is a process in place for working with web development companies from conception to delivery without having to sell yourself out of ownership of your intellectual properties.Firstchoicewebdesign.net is an example of a company that will help you with a dot com idea and finance your web project. Failure is not falling down it is refusing to get back up again and the ‘New Dot Com era’ will be our next economic boom. geekiefreak Report As Abusive See All Comments (1) Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. More from Reuters U.S. starts criminal probe into Goldman: source WASHINGTON/NEW YORK (Reuters) - Federal prosecutors in New York have begun investigating Goldman Sachs Group Inc, raising the possibility of criminal charges against the company or its employees, a source familiar with the situation said on Thursday. U.S. government intensifies effort to contain oil spill | Video Economy likely grew 3.4 percent in first quarter | Video United, Continental to announce merger Monday: report RIM breaks into top 5 in surging phone market Did Goldman gain AIG insight from Timberwolf? » More Top News Greek austerity plan at the ready Greece readied severe measures to secure billions in aid and avoid debt default, providing relief to financial markets but drawing threats from unions. Full Article | Slideshow Scenarios: Can Greece cut its deficit? Greece bailout will prevent EU spillover Spain says will not have to ask for help Portugal opposition backs austerity Felix Salmon: Why the ECB is to blame Greece Gauging the oil spill fallout A deadly oil rig explosion and subsequent spill could not have come at a worse time for the oil industry. How will it impact offshore drilling and climate legislation? Full Article Infographic: Map of the oil rig leak Fears of fishery, tourism damage Breakingviews: Not just BP's problem Video: Oil spill may last 90 days Green Business © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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