Following the results of GenerationS Oil&Gas corporate accelerator, held by RVC, five most promising startups from around the country were selected to give a speech at III Moscow Corporate Venture Summit and compete for GenerationS prize pool.
The selection process consisted of several stages: first, 250 companies that have submitted applications for participation in the program had online learning, then the best ones were selected to hold a full-time session in Moscow. Following its results, 22 teams were invited to participate in the corporate accelerator in Kazan. For one month, the team had training and met the Republic's industries representatives. The winners were selected by three scientific and technical councils of Tatneftekhiminvest Holding after the start-ups made their final presentations.
The list of finalists of GenerationS Oil&Gas corporate accelerator:
All finalists of GenerationS Oil&Gas corporate accelerator have patents, including international ones, on research and development. Each project has tested its development, many of them have an established production chain.
Pavel Korolev, Pulsar Venture Capital CEO, accelerator operator, commented on the selection made: "Many of the projects that have undertaken our acceleration program have are fully ready to work with the strategic partners on their innovation implementation or their solutions sale. There are no winners here, because all the teams that took part in the accelerator have got new contacts, contracts and will get investments in the near future".
Gulnara Bikkulova, Director of Innovative Markets Department and a member of RVC Board: "This year GenerationS took another little step to build a bridge between the large Russian businesses and young innovation companies. Here, the willingness of both parties to understand each other and find mutually beneficial solutions is crucial. I would like to thank Tatneftekhiminvest Holding and our accelerator participants for the fact that their openness and ability to achieve the results were a good example for other companies and startups of how "open innovation" can develop in the oil and gas industry".
Rafinat Yarullin, General Director of Tatneftekhiminvest Holding OJSC: "Now, when there are structural changes in the economy and the focus is made on innovation and import substitution, it's the very time to introduce new technologies. The programs like GenerationS provide the corporations with a selection of new development. We are satisfied with our productive cooperation with GenerationS Oil&Gas track and Pulsar Venture Capital. But our work with the teams involved in acceleration program does not end there. The Holding companies are holding constant negotiations with the track participants, and I am sure that soon we will learn about new deals and new technologies introduced in the petrochemical complex of the Republic of Tatarstan".
In addition, following the program's results, Investment and Venture Fund of the Republic of Tatarstan, accelerator's partner, has decided to invite all the finalists to participate in the contest "50 best innovation ideas for the Republic of Tatarstan". The teams have already completed their applications. They will be able to win up to 4 million rubles for their project during "Idea-1000" competition and program.
The Final of GenerationS Federal Startup Accelerator will be held on November 24, at the site of the Moscow Corporate Venture Summit. GenerationS-2015 will name three best technology startups in Russia, these projects will share 10 million rubles and will get support from the leading Russian companies. The total value of GenerationS prizes increased 4 times compared to the year 2014 and amounted to 160 million rubles.
Registration for the GenerationS Final: http://generation-startup.ru/about/events/15677/
About GenerationS GenerationS is a federal accelerator for technology start-ups, in which the best projects are selected by the results of a multi-stage examination to receive intensive development and opportunities for investment. GenerationS has been held by RVC since 2013 with the support of Russian corporations, development institutions, and representatives of venture infrastructure. Since 2015, GenerationS resources have been utilised for creation of corporate and industry accelerators in close cooperation with large Russian corporations. The corporations are directly involved in project selection and assessment, as well as in acceleration of startups participating in GenerationS, based on their needs in innovation. GenerationS-2015 is held in seven branch lines (tracks): Power&Energy, Telecom Idea, Robotics, Aerospace, SmartCity, Oil&Gas, BiotechMed. All the participants of corporate accelerators will be given the opportunity to receive a grant of 1 mln rubles from the Foundation for Assistance to Development of Small Research and Technology Enterprises. Three winners of GenerationS will share the prize fund of RVC and partners. The minimum size of the prize fund is 5 mln rubles.
In 2015, RVC re-structured GenerationS into a line of industrial corporate accelerators in order to help large companies to establish cooperation with small businesses. GenerationS is implemented in close cooperation with the following corporations: RusHydro Group, KES Holding, MOESK JSC, Fund Energy without borders, MTS PJSC, Sberbank-Technology CJSC, Saturn RPE, Korolev Rocket and Space Corporation Energia, MORTON GC, Russian Technical Society RPO, Tatneftekhiminvest Holding OJSC, Johnson & Johnson, Pharmcontract GC, Sibbiopharm PA. The corporations are directly involved in project selection and assessment, as well as in acceleration of startups participating in GenerationS, based on their needs in innovation. The format of the corporate accelerator will make it possible to the corporations, with the expert support by RVC and other market participants, to implement pilot projects on working with technology startups for implementation of innovative development programs, building a flexible innovation policy, business development, development of new products, and entering new markets.
This year, more than a hundred public organizations and commercial companies became GenerationS project's partners, including: Foundation for Assistance to Development of Small Research and Technology Enterprises, Russian Ministry of Economic Development, Russian Ministry of Agriculture, Agency for Strategic Initiatives, Russian Ministry of Communications and Mass Media, Association of Innovative Regions of Russia, Rosmolodezh, Innovation Center of the Russian Olympic Committee, VTB24, MasterCard, Alpha Bank, Kamaflow, SAP, Cisco, IBM, Samsung, Microsoft, Huawei, Invest in Finland, EFKO SC and many others.
RVC OJSC is a state fund of funds, development institution of the Russian Federation, and one of the key tools of the state in creating national innovation system. The authorized capital of RVC is more than 30 billion rubles. RVC's capital is owned in full by the Russian Federation represented by the Federal Agency for State Property Management of the Russian Federation (Rosimushestvo). The total number of funds formed by RVC has reached 22 with the aggregate size of 30.3 billion rubles. The share of RVC is 19.3 billion rubles. The number of innovative companies approved for investment by RVC funds has reached 182. The total amount of invested assets reached 16.9 billion rubles. Since 2015, RVC OJSC has been defined as a project office for implementation of the National Technology Initiative (NTI) - the long-term strategy of the country's technological development, aimed at formation of new global markets by 2035.
About Tatneftekhiminvest Holding
Tatneftekhiminvest Holding OJSC serves as a coordination and expert center working in a wide range of activities of the petrochemical complex. The main purpose of the holding company is to facilitate the fullest use of intellectual, material, natural resource, industrial, and R&D potential of the petrochemical complex of the Republic of Tatarstan and gaining profits from these, including through: improved efficiency of enterprises of petrochemical complex of the Republic of Tatarstan by the integrated use of hydrocarbon and mineral resources; and development and implementation of measures for the efficient use of the research and technological potential.
About Pulsar Venture Capital
Pulsar Venture Capital is an early stage venture capital fund and a business accelerator, ensuring proper conditions for implementation of innovation projects, developing high technology companies.
About the contest "Fifty best innovation ideas for the Republic of Tatarstan"
The contest "Fifty best innovation ideas for the Republic of Tatarstan" has been held since 2004 in order to stimulate innovation activity, promote intellectual achievements of the specialists in scientific and technical sphere, assist in the use of intellectual potential of Russian regions and foreign countries in addressing scientific, technical and socio-economic problems of the Republic of Tatarstan. The contest has three stages: projects receipt, registration and preliminary examination (April 1 – October 15), projects examination and selection (October 16 – November 30), summarizing the contest results and awards ceremony (December 1 – December 31). The winners are selected in several categories: "Perspective", "Innovation in Education", "Start of Innovation", "Nano Impulse", "Projects by Association of Innovation Regions of Russia", "The Best Invention of the Year", "Socially Significant Innovation," "Youth Innovation Project".