CzechInvest closes Silicon Valley office

The state investment agency CzechInvest has closed its office in California's Silicon Valley, Hospodarske noviny reported. The closure comes despite the Czech government's stated aim of making the development of innovation and information technology a priority, the paper said. The head of CzechInvest, Roman Cermak, said the Silicon Valley office had been closed because it had poorer results than the agency's other US office, in Chicago.

Author: Ian Willoughby