Press Statement from Under Secretary of State Robert Hormats

November 11, 2011

In the words of President Obama, innovation is the key to winning the future. Today President Medvedev’s Chief Economic Advisor Arkady Dvorkovich and I have signed a Statement of Intent formally launching the new U.S.-Russia Working Group on Innovation, which will be part of our Bilateral Presidential Commission. This group, announced in May of this year by Presidents Obama and Medvedev, will support shared priorities in innovation. It will advance a policy dialogue on creating a positive environment for innovative research and business, and it will advise on activities related to innovation in other Working Groups of our Commission. It will also serve as a forum for formulating and implementing joint activities to promote innovative entrepreneurship. The Working Group will include not only government officials, but also representatives of private companies, universities, and nongovernmental organizations that promote innovation.

In the next several months, we intend to share ideas on improving the legal environment for innovation. We also intend to share expertise and best practices on developing innovation centers, and on how to create effective links between the sources of ideas – universities and research institutes – and the market. We hope to have the first meeting of the Innovation Working Group next spring in Silicon Valley. We believe that cooperation on innovation can be beneficial to both of our countries, our scientific communities, and our businesses.