Global Pitch to bring together Russian start-ups and Valley investors
23 Nov '17
Sberbank, the Internet Initiatives Development Fund (IIDF, aka FRII in Russian) and FortRoss Ventures are launching a platform called Global Pitch to assist Russian tech entrepreneurs in developing international business.
At stage one, the partners want to pick 20 project teams to bring them in the spring of 2018 in contact with large investors, VCs and corporations in Silicon Valley.
The selection is expected to start on November 29 during Russian Startups Go Global 2017, an international conference IIDF is putting together. Other events and the final phase for stage one will be announced separately.
Over the next few years the platform initiators are hoping to have 60 start-ups selected for entry to the U.S. investor community and access to global level expertise. The effort is aimed at helping investors and funds find new competitive projects and at assisting start-ups in looking for top-notch investors and best possible knowledge and experience.
“Our role is that of a vehicle for the deep integration of the developed venture market in Silicon Valley and talented Russian entrepreneurs with international business aspirations. By using our fund to invest in Silicon Valley we bring innovation to Russia’s largest companies. By bringing Russian companies to Silicon Valley we build ties with the local venture community,” FortRoss Ventures managing partner Viktor Orlovsky said.
The first qualification round is open until November 27 on the Global Pitch website. Global Pitch project participants will be eligible for an IIDF acceleration program called TechMafia to help the companies start businesses in the U.S. market.