Krasnoyarsk Regional Innovation and Technology Business-Incubator (KRITBI) has become a venture partner of the Seed Fund of the Russian Venture Company (RVC), innovation and venture news source UNOVA reports citing the business-incubator.

The new status of the KRITBI will reportedly enable Krasnoyarsk scientists to attract attention of the largest national investment fund to their projects.

The incubator as a venture partner will search perspective innovation projects in the region, prepare them for presentation in from of the investment committee of the RVC Seed Fund, post-investment control and interaction with venture specialists of the fund.

“We are already packing the first four projects that we will send for approval to the Seed Fund. This is an excellent chance for starting innovators to receive real money for their projects,” Nikolay Kolpakov, the executive director of KRITBI, said.

Last autumn the RVC Seed Fund held investment sessions in Krasnoyarsk region, at which its experts assessed investment attractiveness of the projects by KRITBI residents. “We saw about 44 projects, part of which had outgrown the seed stage and would be of more interest to the direct investment funds and RVC venture funds. There were also projects which totally fall under the format of our seed fund,” Mikhail Kharuzin, the investment manager, said back then.

The RVC Seed Fund is aimed at investment into Russian innovation companies with high growth potential at national and foreign technological markets. The fund manages $63m, its functioning timeframes are not limited. It co-invests together with private investors, providing up to 75% of total company’s monetary demand, but not more than $790,000 in the first investment round.