The city of Moscow and AFK Sistema signed a memorandum of cooperation in innovation and venture capital funding at the 2022 St. Petersburg International Economic Forum. The city government will provide 1 billion rubles (18 million dollars).

The Moscow Innovation Cluster foundation will act on behalf of the city assessing the investment opportunities for AI and transportation projects as well as for digital solutions in economy, education, health services, and biotechnology. The partners will provide seed funding and round A and B investments. A support infrastructure for innovative companies, funds, venture investors, business angels and experts will also be created as part of the agreement.

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