Central regions | Finance, business | Technology & innovation
Starta Ventures expands program for international start-ups
24 Jun '19
Starta Ventures, a New York-based accelerator of Russian origin, is expanding its program and has already begun an eighth start-up selection round, Firrma.ru reported.
Starta Ventures Group’s second fund will have $50m and is expected to focus primarily on companies that will have participated in its new Global Residency Track acceleration program. The best teams will receive an additional investment of $200-300K.
Global Residency Track, the Starta Accelerator’s new acceleration program, is getting broader based this time; in addition to pre-seed and seed stage projects, later stage ones will also have the opportunity to test the waters in the U.S. Project advisors’ role will be much bigger this year, Starta said. Deeptech projects will be in focus.
Starta Ventures now has two VC funds, Starta Capital I and Starta Capital II, as well as the Starta Accelerator and the Sputnik Space co-working in New York, the Liqvest co-investing platform, and other initiatives. Each year Starta peruses more than 2,000 applications from start-ups based in Russia, Belarus, Ukraine, Kazakhstan, other European countries, as well as from North America and Latin America. The New York accelerator picks as many as 40 a year for participation in two acceleration programs that last three months.