Dogged by corruption and instability, Russia was once regarded as a difficult place to do business, but there are signs that times and attitudes may be about to change for the business angel market within the boundaries of this former Communist superpower.
A quick browse through the Moscow Times yesterday revealed an article about the need for Russia to improve its image amongst foreign investors. The country needs to show the world that it has a lot of pent up potential when it comes to innovation and that it is no longer a difficult place for investment in innovation.
Despite the oft-reported wealth of its oil billionaires, Russia’s VC and business angel sector is underdeveloped in comparison to major economies in Western Europe the United States and Asia. So in a bid to boost innovation in the country President Dmitry Medvedev is rolling out his modernization and innovation agenda which has seen a number of foreign VCs invited to innovation forums and conventions recently.
To read the full, original article click on this link: Boom! Is Russia’s Business Angel Market Ready to Explode? | iBusinessAngel
