Software firm Cisco is stepping up its backing for new tech businesses in Eastern Europe, as part of a $1 billion (€802 million) investment in the Russian Federation.
The firm is preparing to open new entrepreneurship institutes in Azerbaijan, Kazakhstan, Russia, Ukraine and Uzbekistan by the autumn. The new facilities will be branches of the Moscow Technological Institute, and Cisco also plans to open sites in 16 Russian cities as part of an agreement signed with the country’s president in 2010.
Paul Betsis, general manager of Cisco RCIS, says the firm’s training programs also help to “build a positive image of entrepreneurship in Russia and other CIS countries, as well as promote sustainable social and economic development.”