Rostelecom sets up venture project department

Earlier this week Rostelecom, Russia’s national telecom operator, announced the creation 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 department will also seek to attract external partners that could offer promising technology ideas and solutions.

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.”

First published in East-West Digital News.