STC to invest in early stage projects of Ingria business incubator

STC to invest in early stage projects of Ingria business incubatorIngria Technopark and Speech Technology Center (STC) company which is a leading developer of innovative systems in speech technology, signed a cooperation agreement under which the STC will provide support and assistance in the preparation, organization and conduction of activities on expertise, support and maintenance of selected innovative projects, and consider investing in Ingria Technology Park residents’ projects.

As stated in the official report of Ingria Technopark, special interest of STC are technical projects that are on pre- and seed stages, as well as growing projects. Expert support and attraction of mentors to accelerate the development of supported startups is planned. In addition, the company is also ready for technological exchange with Ingria residents.

The interest of big business in the developments of Russian startups is growing - Irina Kalashnikova, the CEO of Ingria Technopark says. - Big business is ready to act as a strategic investor for startups, as well as a consumer of innovative products and services of young companies. In connection with the recent trend, a program Off-line Marketing is designed in our business incubator to help residents to find big customers.

New developments of young professionals have always been of interest to us being an innovative company. Partly for that reason we established speech Department of Information Technology in NRU ITMO last year: to educate and support young professionals and their projects, - Mikhail Khitrov, the CEO of the STC says. – the Business Incubator of Ingria Technology Park appears to us as a great opportunity to get acquainted with the startups and their productive development in St. Petersburg. We are happy to do everything we can to support them.

For the last 20 years, STC has repeatedly proved itself as an innovator in speech technology - synthesis, recognition, analysis and processing of speech. Today the company's flagship product is the technology of biometric identification by voice, which has been used successfully in public and personal safety. STC also has a successful experience in cooperation with companies and startups. For example, the Finnish company Vitim Oy adopted STC’s practices in speech technology and created a series of its own products based on it, which will be presented this year at a Russian-European Innovation Forum.

Customers of Business Incubator residents are dozens of major companies, including state-owned. Also, as strategic investors in the residents’ projects in 2011-2012 are HeadHunter, Yandex, RBC and other companies. The volume of investments in Ingria residents in the past year amounted to 378 M RUR, and the proceeds of residents totaled 335 M RUR. There are currently 76 residents in the Business Incubator.