Most of the Russian startups in the Fintech and Retail fields are expecting revenue growth by the end of the current year, the study showed. Many hope to attract investment and find a strategic investor, despite a reduced presence in foreign markets.
GoTech Innovation consultancy conducted a study on the development of small technology companies in Russia. The experts interviewed 117 startups from 20 Russian cities. Analysts studied the result of their work for the first half of 2022 and asked about the plans for the second. The Fintech and Retail sectors were selected as those with the most dynamic development and the most widely accepted innovations.
52% of respondents expect revenue growth in 2022. Half of them count their volume within 100 million rubles. 45% of study participants expect to maintain revenue at 2021 levels.
69% of respondents plan to attract investment. Basically, new companies are looking for financing, the income of which in 2021 did not exceed 10 million rubles. 25% of respondents expect to find a strategic investor, 15% of respondents expect investments of $1 million to $5 million, and the same number, in the amount of $300,000 to $1 million.
In the first half of 2022, the number of startups with a presence in foreign markets decreased – 39% against 51% in 2021. Only 20% of respondents managed to conclude contracts with new clients abroad. These are mainly clients from Kazakhstan, Belarus, Azerbaijan, Turkey and Uzbekistan.
Author:
Kirill Bilyk
Source: RB
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