Russia's president said local companies should back venture capital funds and deals as well as their internal research and development.
Russian companies should invest more to help start local venture funds, according to the country’s president, Dmitry Medvedev.
RIA Novosti newswire reported Medvedev’s speech at a government meeting discussing the modernization and technological development of the economy where he said: "The trend of Russian companies’ increasing expenditure on research and development has already become obvious, but we have little venture capital."
There were 108 venture funds in Russia, Medvedev said, but only 43 of them with a total capital of…
