Promotion of Startups in Russia
The Born2Global Center, a Korean start-up support organization, announced that the center has signed a joint protocol and an MOU with the Skolkovo Innovation Center and the Internet Initiative Development Fund (IIDF) in Russia to promote the foundation of start-ups in the ICT sector in Korea and Russia on June 7.
The Skolkovo Innovation Center is Russia's leading start-up support organization, which operates industrial complexes with more than 1,600 technology-based start-ups in five sectors (IT, bio, agricultural science, energy, new industrial technology). The IIDF is Russia's largest national private joint venture accelerator and investment organization, providing step-by-step start-up incubation and investment of up to 7 billion won. Currently, the center is diversifying its support strategy through the expansion of overseas partner institutions.
"We hope to create a global success story through close cooperation between Korean and Russian start-up support organizations," said Dmitry Politov, director of the International Cooperation Bureau at the Skolkovo Innovation Center. "We will do our best to provide effective support to Korean companies that want to enter Russia and the CIS region through the signing of this cooperation MOU."
In the meantime, the Born2Global Center held a demonstration day as part of the “2017 K-Global @ Moscow” event on June 6. The event was held with six judges who were venture capitalists and accelerators such as Dmitri Poltov of the Scorcov Foundation, Irina Andreeva of the IIDF, Russia's largest public-private accelerator and investor, and Elena Privalova of the Venture Club, a club of Russian venture start-up investors.
BLH Aquatech, which developed technology to dramatically improve crop production through an agricultural irrigation system, picked up the Grand Prize, and the second prize went to Hylium which presented a liquefied hydrogen power pack for unmanned aerial vehicles.