Yandex invests in European business accelerator Seedcamp

Yandex invests in European business accelerator SeedcampThe Russian company Yandex announces the investment in Seedcamp, the largest business accelerator in Europe. This will allow Yandex not only share their knowledge with European start-ups, but also to take part in their selection, as well as influence Seedcamp decisions on investment.

Plus, due to this deal Yandex receives a small share of all projects Seedcamp invests in.

Seedcamp is a known in Europe incubator of startups, which specializes in seed micro-investment. Under the mentoring program Seedcamp holds monthly events in different cities of Europe.

During the year, Yandex representatives performed at Seedcamp events as mentors and communicated with the fund founders. For example, Yandex CTO Ilya Segalovich was the main speaker at the Seedcamp Week in September 2011. The new format of cooperation with Seedcamp will allow Yandex to closely monitor the European market for start-ups and directly participate in its development. The young teams will receive the technology expert and the Russian Internet market connoisseur represented by Yandex. In addition, the Russian Internet company considers its own investments in European startups.

Yandex has long been interested in fresh web project. A year ago the company launched its own program of seed investing for startups - Yandeks.Fabrika.

Yandex.Fabrika is a program helping future projects with investments and expert support. During the past year, Yandex received over 2,000 applications to participate in the Fabrika. Some projects have already received investment: for example, Citrea startup from Yekaterinburg or Israeli startup TimeBooker.