Central regions | Technology & innovation | Finance, business
GenerationS 2014 accelerator competition program launched in Moscow
18 Apr '14
This year’s federal GenerationS accelerator competition kicked off in Moscow last week to pick for investors the best technology projects and teams from across Russia and the former Soviet Union, the official RVC website announced. RVC, Russia’s fund of funds for innovation, has partnered with the city of Moscow in pushing this initiative.
GenerationS 2014 is expected to collect applications from at least all over Russia for four nominations representing the world’s most advanced innovation trends, including Industrial, IT, BioTechMed, and CleanTech.
At GenerationS 2014, projects will be evaluated in accordance with independent assessment methodology developed for Russian Startup Rating (RSR). Following a two-phase screening, about 200 project teams will be invited for participation in sector-specific acceleration programs that will start on July 1, 2014.
Launched last year, GenerationS is part of RVC’s program to foster a venture market in Russia. GenerationS 2013 collected 1,600 applications from various companies, from which 70 projects were hand-picked for acceleration. As a result of the effort, seven companies found investors, six are still in talks over investment, three joined the Skolkovo innovation hub as residents, and some regional projects opened rep offices in Moscow.
“It took us a few days to accomplish meetings which we would have spent months arranging ourselves,” said Denis Sharov, the co-founder of Appercode, the Novosibirsk start-up that won GenerationS 2013, in his comment on the competition.