Siemens unveils €40 million investment strategy for Russia

Peter Löscher, Siemens’ CEO and president, said at a press briefing earlier this month that his company is investing €40 million in Russia with plans to set up as many as 90 different R&D centers in tight cooperation with Skolkovo.

It is the first German company to put up a sizable amount of funds to participate in the development of the state-sponsored innovation hub under construction outside Moscow.

Over the next two to three years, the German technology giant will not only complete this investment but will also add another €20 million it expects to borrow from the Russian government, Löscher also revealed.

The Skolkovo program already has soaked up a reported $250 million, and its full launch remains months, if not years, away.

Sources: Elec.ru, Skolkovo Foundation

 

Topics: Incubators, Accelerators, Technoparks, International, News, R&D, Regions & cities, Skolkovo
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