It is a non-profit organization founded in 2010 and charged by Russian President Dmitry Medvedev with creating a new science and technology development center in the Moscow suburb of Skolkovo.
The Skolkovo innovation system comprises the Skolkovo Institute of Science and Technology (Skoltech) established in partnership with MIT, corporate R&D centers, business incubators, private seed and venture funds, and start-up companies, as well as residential space and social infrastructure.
Skolkovo gave a grant of $780,000 to a company called Workle, which is a service that people can use to start their own Internet-based careers, in 2012.
[2] In November 2013, criminal charges were filed in Russia alleging embezzlement and misuse of $1.5 million of Skolkovo Foundation money.
[3] In September 2021, the Skolkovo Foundation was assigned through 2024 to be the operator of governmental support for testing AI technologies for top-priority economic sectors, within the framework of the federal Artificial Intelligence project, part of the national Digital Economy program.