The Internet Initiatives Development Foundation (IIDF) is launching a massive selection for the accelerator program, its launch is scheduled for August 1st. RB.RU was informed about this in the background.
In November of last year, the IIDF updated its investment strategy in line with changing market realities. In 2023-2025, the Fund will invest about 2.25 billion rubles in projects at the pre-seed and seed stages.
The details of the new strategy is that non-venture companies will receive investment, the fund will look for so-called anti-unicorns.
The support will be available to companies that can turn a profit in one or two years. As the IIDF explains, the fund does not set new requirements for start-ups, but reorients itself towards a dividend approach, since venture capital in the Russian Federation today “has become a regular IT business.”
When choosing projects, the fund will not come from any trend. IIDF is interested in small and medium-sized companies in those niches where the big IT corporations will not enter. According to the results of the acceleration, it is planned to select 15-20 projects.
“We continue to invest in pre-seed, seed, immediately agreeing that the business must be profitable, starting with the next investment step: with seed or at least from round A. We evaluate the business model and whether the startup is ready to do a profit within a year -two, we consider the assessment in such a way that we return our investments through dividends, taking into account our rate of return, ”he specified the characteristics of the strategy in the fund.
Conditions
IIDF offers 5 million rubles for a 7-10% stake in the company. At the same time, the best projects will easily receive the following offer – up to 80 million rubles.
Companies with Russian roots will be able to participate in the accelerator program: at least 50% must be owned by citizens of the Russian Federation. The project must have a finished product and customers, as well as annual revenue of 12 to 100 million rubles.
Earlier, 20 startups were selected for the Eurasia Innovation Center accelerator program, which will be able to receive up to 8 million rubles for development.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
