SAN JOSE, Calif. and MOSCOW - June 23, 2010 - In a meeting today in San Jose, President of the Russian Federation Dmitry Medvedev and Cisco Chairman and CEO John Chambers discussed a wide-ranging series of collaborative initiatives that will underpin the Russian Federation's technology innovation agenda. During the meeting, Cisco made a firm commitment to invest $1B USD to drive entrepreneurship and sustainable innovation in Russia as a partner in achieving the country's goals.

Cisco has identified a five phase collaborative approach over this next decade through which this $1B investment will be staged. The five phases will run in parallel. During the meeting today, John Chambers and Viktor Vekselberg also signed a memorandum of understanding to underline its firm commitment to the Skolkovo Project as the platform for this innovation initiative.

Source: Cisco

For more Russia Development news (http://intldevelopment.einnews.com/russia/), visit International Development News Today (http://intldevelopment.einnews.com), a service of EIN News.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.