Startup accelerator veteran Jon Bradford is a co-founder of TexDrive, Russia’s first international mentor led startup accelerator program currently launching its operations in Moscow. He shared with East-West Digital News his vision on the issues startups face and how accelerators can help entrepreneurs in Russia and elsewhere.
Do you think that the situation and needs of startups at early stage are essentially the same in Russia and in Great Britain?
There are many common elements within all startups anywhere in the world. For any startup to penetrate an international market is very difficult. At an early stage the need for feedback, advice, contacts and introductions is invaluable – it helps to accelerate the business using a “smart community” of serial entrepreneurs.
Of course, there are differences too. One of the main challenges for Russian startups, in my view, is cultural – how accustomed the startups are to working in European and US markets, how comfortable they feel, how much experience they have with that, and so on. This also concerns how you negotiate, language skills and many other aspects. Some people have experience with that, some have less of it.
On the other hand, Russia has very strong human capital, very high people competencies in a number of areas. The list is fairly long – from math to physics and so on. So far, many of the areas have not received much attention from the investment community, but there are companies and projects based on them. TexDrive hopes to address that and it’s one of the reasons why it is open to projects from any field.
How do accelerators help startups?
Accelerators help provide early stage teams anywhere in the world with access to advice “money can’t buy” – enhancing their ability to raise additional capital and build a successful business. Typically, within a three month accelerator program, teams can complete what would take between 12-18 months on their own.
Recently Springboard helped a team from New Zealand to land in the European market. They now have sizable European contracts and have achieved very significant milestones.
Core to all programs is the guidance of early stage teams with the support and assistance of mentors, but each program is a little different. TexDrive is a unique proposition both in terms of program content and of the combined experience and contacts it offers to its participants. It has a very strong financial backing and a pool of cash to invest in the back end of the program, which not all startup accelerators have as part of their model.
One of the goals of TexDrive is to help companies cross the bridge into international markets. It’s a truly international program – it has mentors located in many countries, which is not always the case with accelerator programs, and it’s very well integrated in international networks. TexDrive is the first in Eastern European and CIS acceleration program that is a member of TechStars Network, the largest global accelerator network. And of course it partners with Springboard, which gives it an edge both in terms of knowledge and connections!
Why have you personally decided to get involved in TexDrive in Russia? What will be your concrete role in the accelerator?
One of the attractions of TexDrive for me is the truly international approach it has from the very start. I took the opportunity to help launch the TexDrive program along with other like minded individuals because it looked very interesting and I have known some of the team members for a while.
So far I have helped to structure and launch the program in Russia and have also brought my knowledge and the expertise from the wider Springboard team, contacts and other resources to help TexDrive’s operations. But I also intend to spend time in Moscow helping the program managers and the participating teams themselves. Another role is to help the participants with international plans and contacts. Between fellow TexDrive co-founder Andrey Kessel and our mentors, we should be able to open some serious doors.
• Jon Bradford co-founded or helped to set up eight mentor-led startup acceleration programs, including The Difference Engine and Springboard in the UK and Texdrive in Moscow. Jon has spent most of the last ten years working in and around start-ups; both for advisory firms and venture capital backed start-ups, including an Oxford university spin-out. He began his working career as an accountant at Arthur Anderson in London and spent a number of years living and working in Australia and Silicon Valley. His experience spans funding, structuring, making profitable and selling businesses.
