Central regions | Finance, business | Technology & innovation
South Korean start-ups parachute into Skolkovo for soft landing
7 Apr '17
Four South Korean start-ups last month arrived at Skolkovo, the international tech hub under completion on the outskirts of Moscow, with plans to meet with potential partners and mentors in Russia, EWDN reported.
These start-ups have also applied to become resident companies at Skolkovo.
“This is our pilot soft landing program for foreign start-ups,” said Sergei Pogrebnyakov, an acceleration manager at the Skolkovo Technopark.
The four young companies were selected from dozens who applied via the Korea Institute of Startup and Entrepreneurship Development (KISED), with whom the Skolkovo Foundation signed a cooperation agreement last year. They have already received preliminary approval from the relevant heads of the Skolkovo Foundation’s clusters, and are now in the process of applying for residency, Mr. Pogrebnyakov said.
“To attract investment and do business here in Russia, the Korean start-ups need to register a Russian business,” he added.
One of the start-ups is doing big data analysis to identify the most common words and phrases used in contemporary English. Another team is developing new generation implants made from super-plastic materials for use in dentistry, oncology and various kinds of surgery. The third company is pushing for innovative construction and energy related projects. The fourth one converts 2D videos into 3D models for use in areas such as VR/AR and gaming.