MIT to help set up Skolkovo Institute of Science and Technology

Massachusetts Institute of Technology (MIT) and Skolkovo Foundation on Saturday signed a preliminary agreement to establish Skolkovo Institute of Science and Technology (SIST), Skolkovo President Viktor Vekselberg said. The agreement, which was signed at the St. Petersburg International Economic Forum, plans a three-year collaboration between MIT and the Skolkovo Foundation. It is a preliminary statement of shared intention: MIT and Skolkovo Foundation will next prepare a definitive agreement that they anticipate signing in early fall. \"Under the proposed collaboration, MIT will assist the Skolkovo Foundation in building SIST as a unique, world-class graduate research university. MIT faculty will assist in defining the structure and organization of SIST and its educational and research programs, with a strong emphasis on innovation and entrepreneurship,\" a press release on MIT\'s webpage said. The university, which is to be funded by the Russian government with support from the Russian and international business community, is designed to integrate education, advanced research, and entrepreneurship, based on academic excellence and innovation, attract outstanding faculty, researchers, students and industrial participants from Russia and around the world, organize education and research around multidisciplinary technological challenges, rather than traditional academic disciplines as well as couple education, research, and practice in entrepreneurship and innovation with each of several multidisciplinary, multi-university research centers.