Aug
22
2010
Russia’s avenue for growth is plentiful, IT people are very smart in Russia and have very big potential. A key government there now it is priority to diversify into information technologies. The Russian government earmarked 170 billion rubles (5.5 billion U.S. dollars) for the establishment of Skolkovo, a high-tech hub outside Moscow and Russia’s answer to Silicon Valley. Several US, EU and Asian technology companies will be taking part in the Skolkovo project (Intel, Facebook, Philips, CISCO and others.), with one American multinational pumping in US$1 billion worth of investment. This project is enjoying strong governmental support, which could create a strong platform, take the budding tech industry to a new level, and bring in fresh state, institutional and private investments in a sector that seems immensely promising and popular in Russian and Ukrainian people. More...