Plug and Play Tech Center, a U.S. business incubator embracing Silicon Valley technology startup companies, has launched operations in Russia and selected its first five Russian startups, the company said on Thursday.
"Thanks to the opening of Plug and Play Russia, we can build a bridge between Russia and the Silicon Valley," Plug and Play's founder, President and CEO Saeed Amidi said, adding Russian startups would get a platform to develop business globally.
Plug and Play, which nurtured such companies as Google, PayPal and Logitech, will help the five Russian startups - Toytemic, Vite Me, Shop Points, Family Suit and Mtel - carry out an expert study of their projects and raise venture capital.
Alexei Komissarov, head of the Moscow Government's Science, Industrial Policy and Entrepreneurship, said this was the first time a business incubator of this level had arrived in Russia.
