Russia's Skolkovo Project, its equivalent of America's Silicon Valley, gains $1bn backing from Cisco to find new deals and help entrepreneurs.
US-listed computer equipment company Cisco has agreed to invest $1bn in Russian entrepreneurs over the next decade through a five-part program including corporate venturing.
The five phases will run in parallel and are designed to provide support for Russia’s Skolkovo Project, its equivalent of America’s Silicon Valley started March last year by Russia’s President.
In the first part, Cisco said it would extend its existing $30m venture commitment to Russia-based venture capital Almaz Capital Partners made in 2008 with…
