More than 200 Applications Were Received in the Dual Technologies Track of GenerationS Accelerator
More than 200 project teams from 52 cities applied for participation in the largest start-up accelerator GenerationS in Russia and Eastern Europe. An exclusive license to launch the track is owned by Infrafund RVC, LLC.
The majority of applications came from teams based in Moscow (77), St. Petersburg (13) and Yekaterinburg (13) and Tomsk (11). The most popular directions of the Dual Technologies track are: new production technologies, sensorics and components of robotics, artificial intelligence; new and portable energy sources, big data, wireless technologies, neuro technology, VR and AR.
As many as 35% of start-ups produced a prototype, 31% — are at the concept stage, 21% — completed research and development, 8% — launched a pilot production, and 6% started to sell. Most project teams (20%) have three participants, 16% — four participants. The teams of 10% of start-ups who submitted applications include ten or more participants.
"Due to the interaction with Infrafund, RVC GenerationS received an opportunity to broadcast advantages of the Open Innovation model to enterprises in the defence industry, which previously were considered the most closed and conservative in terms of using external developments. The number and quality of projects that have applied to participate in the accelerator, indicates a significant potential for innovative development in this area," noted the head of the GenerationS accelerator Ekaterina Petrova.
"In 2017, many vertically integrated structures of the military-industrial complex began to build a new project management system in the production of civilian products. Divisions have been created to determine commercial prospects, technical and organizational feasibility of projects, commented the chief operating officer of RVC subsidiaries Vladislav Fedotov. “The investment attractiveness of start-ups selected for RVC Infrafund is a significant measure of commercial relevance. It is important for us to ensure development of projects in accordance with the investment and strategic interests of the track partners and other large enterprises of the military industrial complex. In turn, for start-ups — this is a unique opportunity to interact with major industrial partners."
The list of participants of the accelerated track program will be composed based on the results of on-site selection of projects (Bootcamp) in February 2018. The selected start-ups will take part in the accelerating program which will be as framework to finalize their decisions. The best projects will be able to attract investments from partners as well as enter portfolio companies of RVC subsidiary funds.
The Dual Technologies track is conducted in cooperation with the industrial partner of Voentelecom JSC, the track's partner is RosElectronics JSC and the nomination partner — Aviation Complex named after S. V. Ilyushin PJSC. The infrastructure partners within the the track are the leading Russian universities — Moscow State University named after М. V. Lomonosov, Moscow Technological University (MIREA), TSU (Tomsk State University), Ural Federal University named after the first President of Russia B.N. Yeltsin, South Ural State University.
GenerationS is the largest start-up accelerator in Russia and Eastern Europe, the federal corporate platform for the development of corporate acceleration tools. It has been held by RVC since 2013. More than 20 Russian companies, in whose interests the selection and acceleration of start-ups is carried out, become Industrial partners of GenerationS on an annual basis. As a result of the multi-stage examination, GenerationS participants receive ample opportunities for business development and investment promotion, and to get access to resources and infrastructure of accelerator partners. Alone in 2016, 4,237 applications from 30 countries were submitted to participate in GenerationS. The GenerationS-2016 prize fund amounted to 15 million roubles, the total value of prizes from partners exceeded 100 million roubles.