Regions & cities

Skolkovo secures $4 billion state funding until 2020

November 19, 2014

The Skolkovo Foundation, which manages Russia’s largest state-sponsored innovation hub under construction outside Moscow, will receive another 135.6 billion ruble (about $4.1 billion) shot in the arm from government coffers between now and 2020. The decision, which might signal the technopark’s return to political favor, was made last week at a Russian government meeting presided by Prime …

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Russian bank and regional authorities team up to support Siberian innovators

August 8, 2013

Innovative entrepreneurs in Siberia’s Krasnoyarsk region can now receive financial support from MSB, a new venture fund opened by Promsvyazbank, a major Russian bank, according to the Krasnoyarsk regional authorities. The region and the bank reached an agreement on project funding in late July during the TIM Biryusa interregional educational forum for innovative youth held …

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Moscow Seed Fund and Softline invest in innovative IaaS platform

August 2, 2013

Moscow-based IT service provider Active Cloud Development has teamed up with Moscow Seed Fund and Softline Venture Partners to develop an innovative IaaS (infrastructure as a service) platform christened “CloudBox.” The three partners have brought in $1 million to finance the project. Designed for data centers, mobile operators, and government organizations, the platform is described …

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Belgorod region teams up with federal fund to support local innovation

July 31, 2013

The government of the Belgorod region in Central Russia is ready to co-fund the 12 best technology projects developed by scientists from Belgorod State University and Belgorod Shukhov State Technical University, the region’s two leading higher education centers, regional portal Belru.rf reported earlier this month. In addition to about $6,600 from regional coffers, the Russian Fund for …

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Kaliningrad’s GS Group unveils new venture arm for high-tech investment

July 29, 2013

GS Group, a privately-held international holding based in Kaliningrad, Russia’s westernmost enclave bordering Poland and Lithuania, announced earlier this month plans to support entrepreneurial innovators and start-up teams at all stages of project development. GS Venture, GS Group’s new venture arm, is expected to invest anywhere between $15,000 and $9,000,000 per project. From now to the end …

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MegaFon announces over $200 million investment for 2014 Sochi Olympics

November 19, 2014

MegaFon, a leading Russian mobile operator, has announced a $130 million commitment to building and upgrading the 2014 Sochi Winter Olympics’ telecommunications infrastructure. In an exchange last week with the Russian news agency 1Prime, Tigran Pogosyan, MegaFon’s deputy CEO for strategic ventures and director of the firm’s Sochi-2014 project, said that in addition to the …

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In St. Petersburg, no Russians among Microsoft Imagine Cup 2013 winners

November 19, 2014

About 300 tech-savvy students from 71 countries gathered in St. Petersburg on July 10 and July 11 to contend for global recognition and a total of $1 million in prize money, Microsoft reported. These student finalists pitched innovative projects to a high-profile jury in three main categories. In the Games category, Austria’s Zeppelin Studio came …

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Startup Picnic: The must-attend summer event for Moscow’s startup community

July 22, 2013

This Saturday, the “Startup Picnic” entrepreneurial festival will bring together investors, business angels, representatives of development institutions, and leading business coaches, as well as existing entrepreneurs, in partnership with East-West Digital News. The program will include a variety of educational seminars and master classes on topics such as project presentation, business modeling, business process optimization, …

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Major software engineering conference invites speaker submissions

July 18, 2013

CEE-SECR is the premier software engineering conference in Russia. The 2013 edition of the conference will take place on October 23-25 at the Digital October Center in Moscow. Over 700 industry specialists, representing all IT areas, are expected to attend the event. The CEE-SECR 2013 Program Committee is launching a call for speakers, who should apply …

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Office supplies retailer Live Office migrates online and goes public

July 12, 2013

This Monday, St. Petersburg-based Live Office announced the completion of its initial public offering on the Moscow Stock Exchange. The 4 million shares, or 33% of the company’s equity, were offered at 129 rubles (approximately $4) per share, valuing the company at about $47.4 million. Established in 1996, the company claims to serve 7,000 corporate …

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ERA-GLONASS to cover Russia by December 2013

July 11, 2013

The nationwide deployment of ERA-GLONASS, a real-time satellite-based service for reporting and responding to traffic accidents, is entering the home stretch. By August 2013, 62 more Russian regions will be connected to the system’s infrastructure, Digit.ru reported earlier this week. As a result of a tender, GLONASS, a non-profit partnership which carries out the task …

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