Central regions | Finance, business | Technology & innovation

TMT Investments to launch $10 million incubator

20 Nov '12
East-West Digital News, the international resource on Russian digital industries, reported earlier this month that TMT Investments, a UK-headquartered venture fund backed by Russian businessmen, is planning to launch a $10 million business incubator in Moscow to serve up to 50 Russian Internet start-ups.

The incubator is scheduled for launch in the first half of 2013, TMTs Head of Investor relations Natalia Makeeva told East-West Digital News. It will offer a classic set of services, including funding, mentoring, training, assistance in design, project presentations to investors, as well as accounting and legal services.

The incubator intends to provide up to $100,000 in seed capital per company, TNT shareholder German Kaplun said in an exchange with Kommersant.

The founders intend to incubate about ten of their own projects and also nurture between 20 and 30 other seed-stage companies, with an initial focus on photo, video and audio technologies, and news services. As the effort unfolds, TMT also has plans to Russianize through license agreements a number of global services, such as Wanelo, a womens social network TMT once invested in, helping it take off from zero to $15-20 million in yearly sales.

TMTs new endeavor is yet another in a series of accelerator, incubator or related projects that have sprung up across Russia, including (to name only a few ones in Moscow) Farminers, Texdrive,Yandex.Fabrika, Digital October, Fast Lane Ventures, as well as the Plug and Play accelerator which was launched last June.

TMT is owned by German Kaplun, Alexander Morgulchik, and Artyom Inyutin, the founders of the large Russian media holding RBC back in 1993. Recently, the fund invested in a US online backup provider and an Estonian business software publisher.
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Locations: Moscow

Latest News: Central regions
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