Siberia - The Next Silicon Valley?
March 27, 2007 11:45am CST
"CNN Money is running a story about Siberia's rising tech industry.The movement towards tech is centered in Akademgorodok (Academy Town), with a 15 percent annual increase in the number of firms. Even though the area industry's worth is still fledgling compared to other areas, the growth cannot be ignored. 'President Vladimir Putin has also taken note, backing the construction of a $650 million technology business district with $100 million in state funding for infrastructure. "We simply mustn't waste this chance," Putin declared in Akademgorodok following a 2005 trip to tech-savvy India, "especially as other countries have achieved success without such a strong starting position." High tech is the sort of thing that the Kremlin, realizing that Russia's natural resources can't last forever, would like to develop.'"