In early December, Russia proposed an economic modernization initiative in the Asia-Pacific, including the formation of a free trade zone in the Asia-Pacific. The US Moscow Innovation Corridor (USric), administered by American Councils for International Education provides support to young innovative enterprises, start-ups and academic institutions wishing to explore international collaborations. The US-Russian partnership was launched in consultation with the Chinese People’s Republic, Japan and South Korea. The US Moscow Innovation Corridor (USric) is an important step forward in promoting cooperation among nations that have different views on how their nations should further develop. The US-Russian partnership is an example of how a new front door for bilateral cooperation can open up opportunities for cooperation in different fields.

The first public phase of the US Russians Innovation Corridor was held in November, when more than 20 Russian and international academic and research institutes attended the opening session of the “Moscow International School” (MIS), which is coordinated by the Russian-American Forum. At the meeting, speakers from various Russian universities gathered to exchange views on the future of post-Soviet higher education. They discussed issues such as political culture, higher education and governance. The participants also agreed on key areas for cooperation, such as the need for more private capital for higher education, the need for greater exchanges and integration of education systems, and the need for reforms to improve the business environment. The US-Russian partnership, they said, can help develop mutual understandings of the educational systems in Russia and the US.

Besides the meetings and conferences, there were a series of workshops and seminars organized by the US Russian Science and Technology Academy and the Russian Academy of Sciences and Arts. These workshops gave detailed information about Russian and US research universities. The seminars also provided information about genetic resources and other important information on cooperation. The participants of the workshops and seminars discussed issues regarding the future of cooperation. Some of the topics included; cooperation research, cooperation education, and cooperation research funding.

According to some Russian specialists, the US and Russian governments should coordinate their efforts in developing the innovation ecosystem in order to promote innovations. They said that such cooperation can help strengthen the business centers of Russian entrepreneurs and provide new opportunities for Russian scientists and engineers. However, both countries need to enhance their ability to understand each other’s needs and requirements for the type of innovation they would like to pursue. This understanding is essential for them to cooperate in the best possible manner. For example, Russia would like to pursue entrepreneurship-based innovations, while the US needs to support research in the fields of life sciences and other areas. Further, Russia and the US should also consider ways to enhance their infrastructure to encourage innovation.

In a similar vein, the Russian specialists suggested that the US and Russian governments should look into the possibility of establishing an entrepreneurship development center in Russia. It would be ideal to combine American and Russian expertise in such a venture. It would also give the two countries a platform to exchange business and knowledge. This could be a turning point in improving relations between the two countries. The existing partnership between the Russian government and the US entrepreneurial organization “Russian American Council” is a good example of such cooperation.

Furthermore, US Russians could also look into establishing an innovation strategy that would include a grant program. As the US economy continues to grow, there is no doubt that international investors will be attracted to invest in the US. However, there are some impediments such as political and social instability in both Russia and the US. Therefore, Russia and the US can jointly establish a grant program that would provide financial aid to up-and -coming Russian and American businessmen, enabling them to conduct successful businesses and introduce innovations to the Russian market.

In November 2021, the US President Barak Obama proposed establishing a partnership between the US and Russia in the “US Russians Relations: Strategic Partnership.” The proposal referred to the establishment of a Russian-American Innovation Fund. The US President suggested that the fund would finance high-tech research and development in the Russian Federation. The Russian government has accepted the proposal and signed a Memorandum of Understanding (MOU) on Dec. 8, 2021. On Dec. 8, 2021, the heads of several major companies in the United States and a number of Russian entrepreneurs met in St. Petersburg, Russia to participate in the “Russian American Business Forum.”

In conclusion, the US Russians innovation corridor can prove to be a model for the development of international entrepreneurship. This can be a turning point in building a stronger relationship between the US and Russia. The economic and political situation in both the countries can contribute to the success of this venture. Therefore, it is time for US President Barack Obama to take another look at the US-Russian partnership and develop a plan to enhance the cooperation between the two countries in the high-tech sphere.