Someone will succeed in systematically building a Silicon Valley and others will copy it; the existing Silicon Valley is the product of serendipity, not social engineering. However, this does not preclude it from being understood and replicated. The problem of developing social systems for systematic innovation is one that has been approached at the company level and failed. Russia is attempting to address the problem of innovation and product development at the regional level using the apparatus of state power, instead of at the company level.
For example, Google saw internet video coming. Google had billions of dollars. Google had thousands of PhDs and tens of thousands of engineers. Google launched Google Video eight months before Youtube. Google had every possible advantage and Youtube annihilated Google Video and Google was forced to purchase them for 1.8 billion USD.
If Google has nearly unlimited resources, is in the center of Silicon Valley and cannot launch a dominate product in another market, it suggests that a theory of innovation and product development is still to be systematized and implemented. Entrepreneurship today is in the state that management was in before Frederick Taylor. If large companies could innovate or launch products as well as Silicon Valley, we would not have or need a Silicon Valley.
Several companies have attempted to systematize innovation and product development but have been notorious failures. AT&T Bell Labs invented Unix, the C programming language, wireless Ethernet, and the laser, but made no money on the inventions. The Xerox PARC lab invented the Xerox machine, the Graphic User Interface, Object Oriented Programming, and applications of the computer network but made almost no money off of them. SQL was invented by an IBM researcher at the IBM San Jose Research Laboratory, but it was Oracle and Larry Ellison and not IBM that commercialized and then dominated the relational database market.
Why is a playboy like Larry Ellison more effective at bringing new products to market than the whole IBM corporation? That is the question that must be answered by any attempt at replicating the success of Silicon Valley.
It is sensible that the governments of nation states want to understand and replicate the mechanisms underlying innovation in other cultural regions. Why did the first and second industrial revolution happen in Britain and not France? During the industrial revolution Britain had nearly no natural resource, was an island and had a populations of a few million while France had a population of 40 million. Yet it was Britain and not France that become the dominant superpower. Was it culture, technology, geography, law, social institutions? Why did the Britain empire decline technologically and financially after almost two centuries as a technological and financial superpower? How did the did America dominate the 20th century and leave Britain in the dust?
Why did Silicon Valley occur in the United States and not Japan? Why California and not Boston or New York? Why have other regions not developed the level of startup innovation as Silicon Valley, despite the presence of capital and abundant human resources? Why has Europe not produced even a single Microsoft, Google, Youtube or Oracle?
It is doubtful that Russia will succeed in building "another Silicon Valley", however whatever the result is likely to be much better than what they have now. The attempt will at the very least produce information which will inform later attempts. Although it is gaining less publicity than Russia's efforts, China is also developing several regions that are becoming extremely entrepreneurial and already have several successful internet companies. Russia seems to merely be emulating this model.
The best book on entrepreneurship and innovation that I have found is "Innovation and Entrepreneurship", by Drucker http://amzn.to/djxhm7
The best book on the relationships between culture and geography and the success of Silicon Valley is "Regional Advantage: Culture and Competition in Silicon Valley and Route 128", by Saxenian http://amzn.to/akHYGS
Saxenian also wrote a follow up book which is highly relevant to understanding how Silicon Valley culture is impacting entrepreneurship in China and India.
"The New Argonauts: Regional Advantage in a Global Economy", by Saxenian http://amzn.to/cCdqsC