VC Czech-mate

It may invest $84m toward the vehicle in an effort to fight a perceived decline in economic competitiveness. The aim is to have a fund which is jointly funded by the state and private capital, and was announced Monday by Martin Kocourek, the Czech Republic's Economy and Trade Minister.

Czech Invest, the country's investment and business development agency, states intellectual capital as its greatest resource. It further states the following as growth drivers: record flows of foreign direct investment, European dominance in computer production, the complete automotive supply chain, the track record in supporting global ICT operations, the burgeoning growth of Czech suppliers and the shift away from labour-cost-sensitive investments to high value added activities and extensive R&D as integral parts of global networks.

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