Skolkovo Institute of Science and Technology (also known as Skoltech; Сколковский институт науки и технологий, Сколтех) is a private institute established in a partnership with MIT. It specializes in basic and applied research and educating students in science, technology, and business areas. Skoltech also provides professional education, advisory services, industry-funded research and results in implementation, services of shared facilities, technology licensing, and new companies established by its scholars, engineers, students, and alumni.