Internet business in Russia is a profitable enterprise worth 8.5% of GDP, according to Vladimir Putin. Russia’s president was speaking last week at the “Internet Business in Russia” forum, which was attended by top figures from Russia’s leading internet companies, including Yandex’s Arkady Volozh, Mail.ru’s Dmitry Grishin, Ozon’s Maëlle Gavet and Live Internet’s German Klimenko. Putin added …
Knopka Zhizni (“Life Button”) has raised 45 million rubles (approximately $1.3 million) from IIDF (FRII in Russian), a $200 million seed and early-stage fund launched last year. The news was reported yesterday by IKS Media. Founded in November 2010 by MBA students of the Skolkovo Management School, the startup has developed a mobile medical alert system for the …
IIDF invests $1.3 million in mobile medical alert system Read More
The Internet Initiatives Development Fund (IIDF, or FRII in Russian), a fund launched last year following a government initiative, will open a remote regional accelerator in Sevastopol, Crimea, as soon as this summer. The news was reported last week by Russian business daily Kommersant. The fund is expecting to support five to seven projects, which will …
Russia seeks to develop startup industry in Crimea Read More
Flint Capital, a $30 million high-tech investment fund based in Moscow, and IIDF (FRII in Russian), a $200 million seed and early-stage fund launched last year, have invested an undisclosed amount in SMTDP Tech LTD. Based in St-Petersburg, this startup has developed a technology to verify the authenticity of photographs. Dubbed the “Picture Manipulation Inspector” (PMI), the solution …
Flint Capital and IIDF invest in Picture Manipulation Inspector Read More
A new early stage technology support entity called ImpulseVC was launched last week in Moscow to invest in new media and web-based entertainment startups. ImpulseVC includes a venture fund, an accelerator and an incubator. The founders of Sape.ru, a six-year-old online exchange that buys and sells links from a wide variety of websites and is estimated …
New fund and incubator ImpulseVC to invest $65 million in Russian Internet startups Read More
Former executives of Finam Global, the venture arm of leading Russian financial group Finam, have launched a $30 million high-tech fund to invest in “fast-growing markets of considerable size.” Christened ‘Flint Capital,’ the fund comes as the fifth sizeable one launched in Russia since the beginning of the year – after FRII, a $200 million …
Earlier this week the Internet Initiatives Development Fund (IIDF, or FRII in Russian), a government-supported initiative, announced that it started receiving its first applications from individual entrepreneurs from all over Russia. The fund has received no less than 6 billion rubles (approximately $200 million) from state corporations. This huge amount is to be invested in …
