Startup Accelerator,affiliated with ITMOI. Basic information - SA “iDealMachine” case: provides investments ($20,000 for 3 months) for projects intheir earliest stages (acceleration period). provides intensive training for teams and prepares them fortheir entrance into the market invests with other partner venture funds in mostaccelerated projectsII. Results: in the first session (15 March – 25 June, 2012) there were8 companies accepted, including 3 projects from SL andSC of NRU ITMO the basic volume of investments is $160k at the moment 7 of 8 projects continue their activity all 7 projects have already attracted the next round ofinvestments, a total volume of US$1,3M
FUEL project:Partnership formatThe FUEL project (Future University and EntrepreneurshipLeaders) supported by the USRF:1. The initiator: NRU ITMO2. Partners: UCLA, NRU HSE3. Main purpose:Building an acceleration system in Russian regions to providea flow of university startups and integrating the system into theregional innovative ecosystem, particularly for the benefit ofregional “development institutes” and other interestedorganizations4. Time frame: 2013-2014, prolongation to 2015-2016.5. Beneficiaries: 5-7 Russian regions; Universities and research institutions; Subjects of the regional innovative ecosystem.
FUEL project:Partnership formatcontinued:6. Project budget (layout for 2 years):а. USFR funding: US$ 2M (2013-2014) –project team support(travels, salary etc.)b. Region co-funding: ca. 25M RR (ca. US$0,8M) - to coverexpenses of local experts involved into the projectimplementationc. External financial institutions’ contribution: $20-25M tocreate seed fund, including: Regional venture funds; RVC JRC and other development institutions; Private individuals and legal entities, including thosefrom other countries.
Expected resultsI. Qualitative results – improvement/formation of: The innovative ecosystem in the Russian and USregions, incl. effective collaboration between universitiesand regional representatives of “development institutes”,clusters, financial institutions etc. Talent pool for the development of regional innovationecosystems of Russia and the U.S. Sustainability of the business projects flow in the regions- from universities to industry and markets Additional mechanisms of venture funding for regionalstartups Pool of competences to help startups enter the high-techmarket in the U.S. and Russia
Expected resultsII. Quantitative results: Created regional acceleration systems “SC-SL-SA”: 5 Trained regional trainers: 40 Established pool of mentors to work in the SL: 80 Business projects passed through regional SLs: 80 Business projects passed through regional SAs: 25 The total capital of regional SAs: $25М The number of partners in SA network: 10 The number of trainings where regional innovativemanagers and startup founders participated to getthe U.S. experience, incl. DeepDive (San Francisco): 20
Russia – USUniversity SA PartnershipPartneruniversities withnew SAsPool of mentorsand SAmanagersNew SAs inRussian andUS regionsThe flow ofmutually fundedstartupsCooperationactivities andeventsEntering the USand Russianmarkets…
Required supportProposals to U.S.- Russia Innovation Working Group tosupport creation of Russia – US University SA Partnership:1. Identification of Russian and U.S. regions interested increation of Startup Accelerators2. Identification of Russian and U.S. Higher EducationInstitutions who are interested and able to build StartupAccelerators3. Identification of financial institutions and programs,“Development Institutions” etc. interested in foundingStartup Accelerators and support of partnerships betweenRussian and U.S. startups4. Support of dissemination information about StartupAccelerator activities among interested institutions (e.g.innovative and territorial clusters)
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