Kaliningrad?s GS Group unveils new venture arm for high-tech investment

GS Group, a privately-held Russia-based international holding, has announced its new venture department, GS Venture, with plans to allocate $45m for high-tech projects this year and next.

As innovation news portal reports, GS Group, a privately-held international holding based in Russia?s westernmost enclave of Kaliningrad bordering Poland and Lithuania, has announced plans to support entrepreneurial innovators and start-up teams at all stages of project development. Its new venture project department is reportedly expected to invest anything between $15,000 and $9m per project. Between now and the end of 2014, GS Venture, GS Group?s new venture arm, is said to have plans to invest a total of $45m. GS Venture is expected to offer business idea initiators a range of support services from investments to technical backing, to PR, to promotion, to commercialization of products...