Skolkovo Innovation City: Grants, Startups, and VC Network
"Explore Skolkovo, a newly built innovation city driven by MIT with special tax conditions for startups, a vibrant pipeline of new ventures, and a network of accredited VCs. Discover the opportunity for non-dilutive grant funding, support services, and direct links to the government. Learn about success stories like RockFlow Dynamics backed by Intel Capital. Get insights into Skolkovo's ecosystem designed to fuel entrepreneurial growth. #InnovationCity #StartupEcosystem #VCNetwork"
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Presentation Transcript
WHAT IS SKOLKOVO NEWLY BUILT INNOVATION CITY MIT-DRIVEN POST-GRADUATE RESEARCH UNIVERSITY PIPELINE OF NEW STARTUPS VC NETWORK UP TO 80 MULTINATIONALS TECHNO PARK SERVICES DIRECT LINKS TO PRESIDENT AND GOVERNMENT MINISTRIES 2
SPECIAL CONDITIONS FOR STARTUPS IN SKOLKOVO No VAT or profit tax for up to 10 years if profit is <$10M/year and turnover is <$30M/year 14% unified social tax rate for residents Refund of import customs duties and VAT expenses paid during import to the RF customs territory Lower administrative burden Better market access Techno park services 3
PIPELINE Grants approved for the total amount $170m 2 months 43 Applied for Grant 86 225 Skolkovo start-ups 1 month Business plans reviewed in 12 months 1239 4
SKOLKOVO GRANTS Skolkovo Grants: PRE-SEED Typical non-dilutive financing amounts 100% Skolkovo Start-up up to $1m Growth up to $5m Expansion up to $10m Up to $50K SEED Co-investment requirements, % of the total project budget Start-up at least 25% Growth at least 50% Expansion at least 75% Up to $1m EARLY-STAGE Co-investment preferences Cash co-investment preferred Investor s global track record in particular sector Up to $5m LATE-STAGE Primary project selection Grant application Due Diligence Grant Committee >25% private Investment Office Cluster Up to $10m Skolkovo 2 months (Unsurpassed speed of delivery of up to $10m USD) Private Sector 5
VCS ACCREDITED WITH SKOLKOVO FOUNDATION 1. Almaz Capital Over 20 leading Russian and international VCs signed MoUs with Skolkovo 2. Exigen Capital 3. Pangaea Ventures 4. S-Group Capital management ~$300m soft commitments to invest in Skolkovo residents 5. Runa Capital 6. Foresight Ventures 25 Skolkovo residents are backed by accredited VCs 7. Maxwell Biotech 8. VTB Capital 9. Bioprocess Capital 10. Leader Asset Management 6
CASE STUDY: ROCK FLOW DYNAMICS RockFlow Dynamics, backed by Intel Capital, received grant financing from Skolkovo Foundation. Rock Flow Dynamics (RFD) develops software for the petroleum industry. It offers a wide range of advanced innovative tools for reservoir engineering implemented in tNavigator the dynamic reservoir simulator developed by the company. 2005 2007 IVQ2010 IQ2011 IIQ2011 IIIQ2011 IVQ2011 Established in 2005 Profitable since 2007 Backed by Intel Capital in November 2010 Applied to Skolkovo in June 2011 Received Skolkovo resident status in July 2011 Received Grant financing from Skolkovo in October 2011 7
KEY PARTNERS INTERNATIONAL COMPANIES RUSSIAN COMPANIES 8
