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Home > News > A Go-Forward Path to Generating Prosperity

March 13th, 2007

A Go-Forward Path to Generating Prosperity

Abstract:
The government's focus is on the development of SMEs that addresses global needs, so Moscow is spending billions in petrodollars to create new IT, biotech, nanotech and other high-tech companies with the aid of technoparks and incubators. It is opening up a $500 million fund-of-funds, modeled on Israel's example, to grab a seat at the table of global technology development. Multinationals like Intel, Siemens, Motorola, Microsoft, Boeing, IBM, United Technologies, Cadence and Sun have established Russian R&D centers and incorporated Russian technology. A few U.S. venture capital funds have also invested in Russian innovation.

Source:
themoscowtimes.com

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