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Development institute of the Russian Federation

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NTI to launch accelerators for young companies in Neuronet market together with corporations

09.02.2019
Source: TASS

It is also planned to involve the organizers of foreign support programs.

Young companies in the Russian neurotechnology market will be able to find buyers for their developments by participating in support programs (accelerators) that will be financed by Russian corporations. It is also planned to involve the organizers of foreign accelerators. This was reported to TASS correspondent on Saturday on the sidelines of the 4th Congress of the Neuronet Industry Union in Moscow by Chairman of the Board of Directors of ChemRar, leader of the Neuronet Working Group of the National Technology Initiative (NTI) Andrey Ivashchenko.

At a technology or product development stage, start-ups of the domestic technology market Neuronet receive financial support in the form of grants from development institutions, but after completing these programs, they must look for orders on their own. Joint accelerators of the NTI and large Russian corporations (such as Rostelecom, Rosatom, Sberbank, etc.), which will be launched in 2019, should simplify the process of finding customers for promising start-ups.

“Our task in 2019 is to make a whole series of accelerators. These are some programs sponsored by corporations. They give the task, the expertise, we select dozens of hundreds of startups that fit this task and in three months give them a great pumping that they live the life they usually live for a year or two. At the end we organize a demo day or a pilot order, and if the project requires revision at this stage, it receives an investment from a venture capital fund or other source in order to complete it with this money,” explained Ivashchenko, adding that otherwise some startups would turn into “grant-eaters” living only on the support funds’ money.

“We want to make these acceleration programs immediately with foreign partners — we will take the best accelerators in the world, such as Startupbootcamp <...> At the end of the year, we will measure the effectiveness of each of these ... programs. We will take startups that have been selected, and ask two questions: who received the order, and who received the investment? <...> Accordingly, if it is nobody out of ten [startups], then we are unlikely to work with these accelerator organizers,” concluded Andrei Ivashchenko.

The NTI representative also mentioned the Russian Neuronet market directions, the development of which would be particularly noticeable in 2019. They include artificial intelligence, cybersport and the lagging sphere of neurotechnology for pharmaceuticals, where interesting projects were also being created, noted Ivaschenko.

About the congress

The IV Congress of the Industry Union Neuronet took place in Moscow on February 9. The participants from among developers, representatives of business, development institutions and authorities discussed issues of cooperation, in particular, the prospects for creating collaborations of start-ups and corporations in the field of neurotechnologies.

Neuronet is a market for human-machine communications based on advanced neurotechnology developments. It is one of the directions for the NTI implementation, a long-term state program aimed at creating new markets and achieving Russia’s global technological leadership by 2035.



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