welcome back to on the money where the business of russia's business i'm peter sagal to remind you we're talking about russia's innovation in technology but first let's look at how much is innovation seen as developing. the russian technology sector the first thing that comes to mind are russian scientists toiling away at a top secret lab somewhere in siberia a savage stereotype that persists to this day however the reality is much more exciting i t. new clear space and other technologies are experiencing dramatic growth with the state support and encouragement the sector has been getting in the past several years russian high tech ideas have great potential to turn into world class businesses many of them are developed here at the skolkovo innovation center which is russia's largest innovation supporter and a new global technology hub already nearly eight hundred startup ideas at skolkovo have resident status and many of them receive financial assistance according to bloomberg global innovation and tax russia ranks the world's fourteenth most innovative country its peers with norway and