Between January 1 and now Russian Internet start-ups raised a total of $500m in investment, trailing behind many other countries, portal Venture Business News reports, citing Fast Lane Ventures CEO Marina Treshchova.

Ms. Treshchova thinks, however, that “Russia’s Internet market is ripe enough and there’s demand for good start-up ideas.”

According to her, Russia lacks business incubators and funds that would both invest in start-ups and assist them with expertise at early stages. She said pointedly that Fast Line Ventures was playing its part in addressing the problem with an estimated $50m infused in start-ups this year.

Since its establishment in 2010 Fast Lane Ventures has reportedly helped set up 12 Internet businesses.

International business incubators are nonetheless entering the Russian market. Silicon Valley’s Plug and Play Tech Center launched in October its Russian operation and has already selected five start-ups for continuous support.