Central regions | Finance, business | Industry, manufacturing

Russian industrial majors cultivate Russian industrial start-ups

1 Dec '16
GenerationS, the largest government accelerator program in Russia and Eastern Europe, has completed the screening of start-up applications. Out of more than 300 contenders, GenerationSí industrial partners have picked what they believe are 120 most promising domestic start-ups to offer them eight corporate accelerator programs, announced the website of RVC, Russiaís fund of funds for innovation and the mastermind of GenerationS.

The selected project teams may now expect a broad range of opportunities for business development, including personal mentors, expert support, international on-the-job training programs, and assistance in investment raising activity and in the packaging of projects for commercialization. The highest prize is believed to be access to resources Russiaís leading corporations have.

The project screening was conducted in the interests of GenerationSí corporate partners which in 2016 included more than twenty large-scale Russian companies.

The corporate accelerator programs will continue through February 2017. On the premises of the partner corporations the finalists will be able to tweak their products in ongoing interaction with the potential customers, test their business models, and put together commercialization strategies. The accelerator programs will culminate in a Demo Day when each start-up company will pitch its project to its respective partner corporationís investment board and tech expert council.

Program winners will be announced in March 2017 at the GenerationS Superfinal. The RVC-led accelerator program has about $230,000 in prize money, with another $1.5+m to be anted up by the corporate partners.
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