Russia"s answer to Silicon Valley, being...
"I think, we will ask for certain tax breaks for a period of five to seven years," Viktor Vekselberg said on Rossia 24 TV news channel.
The new high-tech research and production hub is being set up in the Moscow Region town of Skolkovo. Vekselberg was named to coordinate the project in March, and has said it will need up to seven years to break even, although the first results will appear much earlier.
The businessman, who has interests in the energy, commodities and electronics sectors, admits that mistakes will probably be made in implementing the ambitious project.
"This is not a normal business project where everything can be estimated beforehand," he said. "Elements of risk exist of course."
Vekselberg added that creating the right environment to attract participants was an important task, but stressed that every project would have to meet strict requirements before getting a start in Russia"s Silicon Valley.