Russia has plans to create an agency similar to the US Defense Advanced Research Projects Agency (DARPA) to develop innovative military technology.

Russian President Dmitry Medvedev said the nation should focus on producing its own high-tech systems rather than upgrading existing technology.

Presidential aide Arkady Dvorkovich said the project could be created in collaboration with the Skolkovo fund.

The project’s budget for the fiscal year 2011 is $3.1bn, according to RIA Novosti.