By Andrei Skvarsky.
RVC, a major Russian state-owned 30bn-ruble ($100m) fund of funds for high-tech promotion, is co-launching an “accelerator competition” for information technology startups.
Between 60 and 70 firms will be involved in what will be Russia’s first contest of its kind and part of the annual Business Information Technologies (BIT) competition, which has been held since 2003 and brought together more than 1,000 firms from all over Russia every year, BIT organisers said in a statement.
The accelerator competition will begin with an online course in September on commercial fundamentals of IT business. During a subsequent two-week programme in Moscow in October, projects will be selected to be presented at the Open Innovations international forum in Moscow in November.
“Any startup comes up against a situation in its development where it needs expert assessments and meetings with potential investors. Competitions are one of the best facilities for this,” the BIT statement quoted RVC chief executive Igor Agamirzyan as saying.
The accelerator contest is a joint effort by RVC and the Innovation Development Centre (TsIR), a high-tech investment promotion body set up by the Moscow city administration last autumn.
RVC has set up 12 funds whose capitalisation totals 26.1bn rubles ($830m). RVC’s capital in them exceeds 16bn rubles ($510m). The funds have invested a total of 12.1bn rubles ($385m).
Sorry, comments are closed for this post.