A meeting of leading Russian venture capital companies and venture capital and investment funds with representatives of the Roskongress Foundation, the RK Investments Fund, the International Fund for Technology and Investments, the Digital Economy Development Fund was held in Moscow, where they discussed preparations for the Pitch-Billion session. in the framework of the St. Petersburg International Economic Forum.
The participants of the meeting included: Business Priority Project Director Marianna Skragan, Maxim Chereshnev, Member of the Board of the Digital Economy Development Fund, Yury Cherches, Member of the Board of Directors of Roskongress, Alexander Shatirov, Director of the RK Investments Foundation.
During the meeting, the participants discussed the innovative start-ups for the “Pitch-session per billion”, criteria for evaluating and selecting competitive projects, as well as the format for supporting the contest nominees.
The pitch session will be held on June 7 and will be held in accordance with the international start-up pitch model of Oxford University “Techstars Startup Weekend Oxford” and “PitchFest Oxford”. According to the format of the pitch session, startups are given five minutes for the presentation and two minutes for the jury questions, among which are representatives of state corporations, the largest companies in leading industries, as well as representatives of twenty venture and investment funds.
“At the pitch session in the framework of the St. Petersburg Economic Forum a wide range of technological projects is planned. For us, this is one of the key areas of investment. I believe that such initiatives in the framework of the largest economic forums are very correct, ”said Danila Shaposhnikov, representative of the Terra VC Foundation.
Selected projects will receive financial assistance for business development up to 50 million rubles, the total investment fund of the session – 1 billion rubles. Upon completion of the pitch session, a start-up zone will be organized to communicate with investment funds, discuss projects in detail, and enter into agreements.
Start-ups that have been selected at the National Business Priority start-up competition will be invited to participate in the pitch-session. The main criterion for project selection is innovation, as well as product availability (mature project stage), product rights or intellectual property protection, sales experience, potential in the Russian and world markets, high competitive advantages, project projected risks, team compliance with goals and tasks implemented by the scheme of commercialization, the presence of the roadmap of the project. Each application that has passed the moderation is submitted for consideration by no less than three experts, anonymous for the bidder. After the judging is completed, a list of experts will be published on the contest website, as well as final evaluations of each project.
The Roscongress Foundation is a socially oriented non-financial development institution, the largest organizer of international, congress, exhibition and public events.
The Roscongress Foundation was established in 2007 with the aim of promoting the development of economic potential, promoting national interests and strengthening the image of Russia. The Foundation comprehensively studies, analyzes, forms and highlights the issues of the Russian and global economic agenda. Provides administration and promotes business projects and investment, contributes to the development of social entrepreneurship and charitable projects.
The Fund’s events annually gather over 80 thousand participants from 195 countries of the world, more than 10 thousand media representatives work at Roscongress sites. 2500 experts in Russia and abroad are involved in the analytical and expert work, interaction with foreign economic partners from 75 countries of the world has been established.