Added by James Morley on October 13, 2010
California’s state governor Arnold Schwarzenegger will be leading tech investors from the Silicon Valley in inspecting Russia’s hi-tech economy. This will be done this week as investors try to get good results to their investments.
California-based Global Technology Symposium’s head Alexandra Johnson said that everyone eyeing the deal wants to make profit and thus wants to make sure the investment is safe before they make any move.
She also said that there is a risk as there have been corruption cases in the past in Russia.
Schwarzenegger will be heading the team as they go from one company to the other to meet with entrepreneurs at the Skolkovo technology centre in Moscow.
The centre was established earlier this year by Russia’s president Dmitry. President Dmitry had visited the U.S. earlier inquiring on the U.S. tech market. Schwarzenegger’s move is viewed as a return gesture.
There haven’t been many successful companies in Russia and investors are taking their time to understand the tech market before they commit any of their money.
This is despite the president’s effort to fund the tech Skolkovo centre.
Cisco U.S. group said that it would also put aside some money to help in the establishment of the Skolkovo centre.