IBM has created a new seven-person venture capital advisory council to "help accelerate innovation in deploying open standards-based solutions, especially for emerging markets around the world." According to IBM, it's important to back open standards in key emerging markets such as Brazil, Russia, India and China. In addition to supporting open standards-based solutions, the new VC advisory council at IBM will also "continue to identify and develop new partnership opportunities to best help the hundreds of new and innovative start-ups that arise in these countries every day." For example, IBM would be ready to back a start-up company in Moscow or St. Petersburg developing a Linux-based software solution.