Government fund of funds
Development institute of the Russian Federation

News

GenerationS announced the best technological startups in Russia

16.10.2014

GenerationS announced the best technological startups in Russia

Four winners of the accelerator competition for technological projects of GenerationS - one in every industrial sector - were decided on October 15 at Moscow International Forum "Open Innovations". The best are: Promobot (Industrial), Kera-Tech (BiotechMed), «NanoServ» (Cleantech) and VeeRoute (IT).

"The main achievement in the competition is investments and results, – said Arkady Dvorkovich, Deputy Prime Minister, at the opening session of GenerationS investment session. – It is great that there is a platform that will bring together all those who have ideas and venture capitalists. And the investors are already interested in the projects presented, so we are on the right track."

According to the results of this year GenerationS, about fifty projects have already entered into negotiations with Russian venture investors. Moreover, several corporations have expressed their will to join the next year's competition as organizers and partners. "Even now a number of Russian corporations consider GenerationS Competition as a channel to search for interesting developments that can be used to solve their business issues. Today we are discussing partnership with several companies that intend to create separate tracks for the search of technologies the next year", – commented Gulnara Bikkulova, Director of RVC Innovation Markets Department.

The final of GenerationS Federal Accelerator Competition was held as part of Moscow International Forum "Open Innovations". 25 strongest teams of GenerationS presented their projects to the jury composed of 100 Russian and foreign investors. The jury assessed the projects presented at the investment session by seven major criteria: team, problem and solution values, market understanding, possibility of technical implementation, competitive advantages, business model scalability and possible capitalization of the project within 3-5 years. The final score consisted of the sum of indicators by criteria and the investor's evaluation in terms of its own funds investment into the project.

"Interesting projects, good ideas, strong team always raise the money, sooner or later. But the competition is useful for start-ups not only in terms of investors attraction, but the possibility to compare themselves with other projects, to work out. This is a sieve allowing the weakest through and giving the strongest a good incentive for development. I think, all start-ups in the final of GenerationS have high chances of successful implementation of their development", – said Konstantin Fokin, General Director of Moscow Innovation Development Center.

All finalists received Moscow innovative passports that give their holders priority rights to participate in various programs of Moscow Government and to use services provided on special terms by Moscow Institutes of development and their partners.

The total value of prizes from the competition partners amounted to about 38 mln rubles. Each finalist of the competition was awarded a grant in the amount of one mln dollars from the Foundation for Assistance. Three target-oriented grants for business development in the "Smart City" category by Morton Construction Company were presented to the teams "Computer Robotics", GeoCV and Promobot. A special prize by SAP was presented to Veeroute. "Computer Robotics" team got the opportunity to present their project to investors of Directors Club for Science and Innovations. The possibility to participate in Seed forum Singapore acceleration program was presented by LOGA Group Company to three finalists of BiotechMed track - Liomed, HepyScreen and Brain Target, and the teams of "Tsinoferr" and "AquaAgroSorb" will have the chance to present their projects at an investment session in New York. Three IT-startups - 3Plet Publishing, AddReality and Piligrim XXI got the opportunity to participate in Fabernovel acceleration program on the basis of the leading innovation center NUMA in Paris, and Promobot, "Nerpa Interceptors" and Bitblaze will pass an acceleration program in Berlin. The tickets for Leweb international congress in the field of digital innovations were presented to GeoCV project. All twenty-five finalists received certificates from Deloitte Consulting Firm and got subscription to Kaspersky Lab anti-virus program. The final's leaders got subscription from Elsevier.



Search by name:

Search by date:

Select date in calendar
Select date in calendar
Venue: