Over 200 applications have been submitted to Dual Technologies, the track of GenerationS,
Over 200 project teams from 52 cities have applied for GenerationS, the largest start-up accelerator in Russia and Eastern Europe. The exclusive license to launch the track belongs to Infrafund RVK.
Most of applications came from Moscow (77), St. Petersburg (13) , Ekaterinburg (13) and Tomsk (11). The most popular areas of the Dual Technologies track are: new production technologies, sensorics and robotic components, artificial intelligence; new and portable energy sources, big data, wireless technology, neurotechnology, VR and AR.
35% of start-ups have already produced a prototype, 31% have only a concept, 21% have completed R & D, 8% launched have pilot production, 6% have started marketing their produce. Most project teams (20%) have three members, 16% consist of four participants. 10% of start-up teams, who applied for the contest, include ten or more members.
"Thanks to the interaction with Infrafund RVC, GenerationS has managed to highlight the benefits of the "open innovation" model to enterprises in the defence industry, which previously were considered the most off-limit and conservative in terms of using external developments. The number and quality of projects that have applied for the accelerator, bear evidence of a significant potential for innovative development in this area," Ekaterina Petrova, the head of GenerationS, said.
"In 2017 lots of vertically integrated structures of the military-industrial complex began building a new project management system for production of civilian products. There are subdivisions that determine the commercial viability, technical and organizational feasibility of projects," Vladislav Fedotov, Chief Operating Officer of the RVC subsidiaries, commented. The fact that the selected start-ups are attractive for RVC Infrafund's investments is a significant indicator of commercial relevance. It is important for us to ensure the 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, the start-ups see it as the unique opportunity to interact with major industrial partners. "
The line-up for the accelerating program will be determined at the end of the project selection (Bootcamp) in February 2018. The selected start-ups will undergo the accelerating program, under which their decisions will be finalized. The best projects will be able to raise investments from partners, as well as to enter several portfolio companies of RVC subsidiaries.
The Dual Technologies track is conducted in cooperation with the industrial partner JSC "Voentelecom", the track's partner is JSC "RosElectronics" and its category partner is PJSC "S.W. Ilyushin S.H. Complex". The track's infrastructure partners are the leading Russian universities — Lomonosov Moscow State University (MSU), Moscow Technological University (MIREA), Tomsk State University, Ural Federal University, South Ural State University