Russia?s national telecom operator sets up Venture Project Department

Russia?s national telecom operator sets up Venture Project DepartmentRostelecom, Russia?s national telecom operator, has established its own Venture Project Department to focus on search, screening, packaging and test introduction of new products.

Rostelecom, Russia?s national telecom operator, has announced the setup of its own Venture Project Department. The new department will focus on search, screening, packaging and test introduction of new products that are complementary to the firm?s core services. Its primary goal is a substantial extension of Rostelecom?s product line by adding advanced services in areas related to telecommunications. The telecom operator wants to market itself as a ?universal service provider,? giving customers access to ?high-tech products via the operator?s integrated platform,? said Alexei Basov, the Rostelecom vice president in charge of the venture department program. He also said that the ?department will seek opportunities for Rostelecom?s entry into new fast-growing markets and yet-untapped market niches.? Setting up venture project departments to seek out new areas for corporate growth has been par for the course among the global leaders in the telecom market. Rostelecom?s department is expected to be both developing new services on its own and attracting external partners that might offer promising technology ideas and solutions...