52 start-ups joined in June the Go Global acceleration program led by Russia’s Internet Initiatives Development Fund (FRII)—more than at any other point in time in the history of the program that is aimed at helping young teams enter international markets, Rusbase reported.
Of the new participants, 80% develop B2B products. Most of the start-ups offer solutions in the field of marketing and retail, and come up with IT tools for business projects. Other teams represent the sectors of biomed, security, headhunting, entertainment, robotics, automotive, and heavy machinery.
Geographically, the teams come from Russian cities as diverse as Moscow, St. Petersburg, Voronezh, Izhevsk, Nizhny Novgorod, Kemerovo and others. Thirty-eight start-ups received subsidies for participation in the acceleration program from the Moscow Export Center and export support agencies across Russia’s regions.
Of the 52 companies, 42 will be making inroads into international markets with a special Go Global program, while the remaining ten will try and ensure growth in the domestic market first.
As part of the Go Global program, participants will spend three months working with mentors and experts.
This story initially appeared in Marchmont Innovation News, Russia’s daily business news website.