Russian state capital leads growth in tech sector

A Silicon Valley-style venture capital industry centred on Moscow might be unlikely, at least for now. But sustained state encouragement including funding could drive a boom in Russia’s high-tech industry. Dominic O’Neill reports.

Anna Chapman, a former spy, started this summer as editor of Venture Business News, a print and internet newsletter for Russian tech finance.

After the US expelled Chapman and others last year for being part of a Russian spy ring, prime minister Vladimir Putin said: “I have no doubts they will have interesting, bright lives.”

But Chapman’s new job is in some ways just another patriotic mission. And participation in this mission – to grow Russia’s high-tech industry — is becoming more widespread.

Putin himself launched a so-called Agency for Strategic Initiatives in June, providing backing to medium-sized businesses in sectors where technological innovation is important.

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