Russia to invest spectrum proceeds in software companies

The Russian government will allocate RUB 5 billion to supporting Russian software companies on the international market. This is part of economic stimulus plans approved by Prime Minister Dmitry Medvedev, Comnews.ru reported.

According to the Ministry of Communications, the government will choose at least eight competitive projects to promote on international markets. They will need to attract co-financing in order to receive the state funds.

As a result, revenue from the export of Russian software is expected to grow to USD 30 million in 2017 and USD 40 million in 2018, while also leading to savings for state procurement. Funding for the programme will come from the recent spectrum auction.

Source: Telecompaper
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