By Andrei Skvarsky.
The Luxembourg government is going to help Russian high-tech firms to get established in European Union markets under an agreement of June 7 with Sberbank, Russia’s biggest lender.
The agreement applies to high-tech firms that are members of the Sberbank group, which brings together more than 20 companies, and to startups supported by the bank, according to a Sberbank statement.
It also makes provision for exchanging experience, methods and mentors in helping startups to get their business going.
Sberbank would, besides, share its experience in dealing with legal aspects of setting up and managing venture capital firms under the terms of the deal.
The agreement was signed by Sberbank CEO Herman Gref and Luxembourg Deputy Prime Minister and Economy Minister Etienne Schneider at the current St Petersburg International Economic Forum.
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