Moscow-based investment consulting company Global TechInnovations and investment fund Prostor Capital have announced the launch of GTI Labs, a new acceleration program for IT start-ups.
GTI Labs describes itself as a sort of “investment lift” in which representatives of venture funds are part of the project selection process. The fund will assess KPIs of selected teams from the very beginning and throughout the program. Start-ups will thus be able to receive up to $40,000 in seed investment, GTI Labs explains, as well as up to $400,000 further funding after a three-month acceleration program.
“Under the program, start-ups will get market and technological expertise and the opportunity to work with software experts to develop a working business model and verify key hypotheses,” GTI Labs states.
The program welcomes IT projects focusing on, but not limited to, XaaS (IaaS, SaaS, PaaS), Big data/BI, crowd technologies, platform and cross-platform solutions, augmented reality, mobile, collaboration and the consumer Internet, as well as “new e-commerce” and “high growth B2B.”
Moscow’s startup infrastructure began to develop only in the past decade, with the first incubator, HSE Inc., opening just six years ago. Over the last two years, an impressive new group of incubators and accelerators has emerged, including Acrobator, Farminers, Glavstart and TexDrive. Direct Group has launched the serial startup builder Fast Lane Ventures, while Digital October has quickly asserted iteslf as an international tech event hub in the center of town.
