Innovation in IT and High Tech Gets Support from St. Petersburg Government

St. Petersburg government has always regarded the city as one of the major high tech and information technology hubs of Russia. City authorities have been bringing new tax payers from technology area – Foxconn and Flextronics agreed to build up their plants in the city. In addition to that, a few months ago St.Petersburg Governor Valentina Matvienko signed cooperation agreements with Oracle and Microsoft corporations.

In the beginning of January 2008, the City Administration launched the Innovation Program which ten billion rubles will fund the development of the technology enterprises in North-Western region of Russia in the coming four years. The primary spending will however be geared towards funding of infrastructure projects, such as special economic zones, IT park, Science City in St.Petersburg suburb of Peterhof.