Four Russian Finalists to Compete in 2013 MassChallenge Accelerator Program

Four Russian Finalists to Compete in 2013 MassChallenge Accelerator Program

Boston, MA — Last week, MassChallenge announced the names of the 128 teams that were selected to participate in the 2013 Accelerator Program. There were over 1,200 applicants this year from over 39 countries. Of those applicants, 54 came from Russia, making Russia the country with the second highest number of applicants after the US. RVC USA, a two-time sponsor of MassChallenge, is proud to present the four Russian teams that were chosen to join the MassChallenge class of 2013 to compete for over $1million in prizes:

Dressformer is a B2B/B2C technology platform that allows the user to virtually try on clothing, pre-purchase, and receive personal and/or professional feedback. The virtual fitting rooms are based on photorealistic 3D avatar & 3D models created from two photos of each piece of clothing, which provide accuracy within a 1 cm margin of error. Dressformer's fitting technology increases the profitability of retailers by addressing fitting & likability simultaneously, thereby reducing the number of returns.

Qbaka provides automated front-end problem monitoring and analytics for web services and mobile html5 with an easy-to-use tool to track and analyze client-side web service problems at all stages, ranging from development to production, which includes error tracking, performance monitoring, and problem source analysis.

Zet Universe helps analysts and businesses capture, organize and retrieve information by providing an integrated information platform to visually organize data.

SputnikBot helps children learn the fundamentals of programming by developing an educational game for tablets and mobile devices that teaches the basics of programming.

The 50% increase in number of Russian applicants in 2013 from last year, when only 36 companies from Russia applied, highlights the growing traction of innovation in a country with a market economy just over 20 years old. The Russian government is currently very proactive in promoting entrepreneurship in Russia by introducing Russian startups to the international marketplace. Since its launch in February 2012, RVC USA has actively pursued opportunities to promote Russian startups, which includes providing sponsorship and mentorship at MassChallenge in Boston, the Global Technology Symposium in Silicon Valley and Russian Innovation Week, an upcoming event which will take place both in Boston and Silicon Valley this year.

Our mission at RVC USA is to promote bilateral investment and innovation between the United States and Russia. The increase in the number of Russian applicants to MassChallenge this year is a testament to the value of MassChallenge and the desire of both nations to collaborate in developing new technologies and products that will change the world,” said Axel Tillmann, CEO of RVC USA. “I was extremely impressed with the caliber of the teams coming out of Russia this year and I look forward to build upon the great success we have had with MassChallenge these past two years.”

During last week’s announcement, Scott Bailey, Director of Partnerships at MassChallenge, praised the ten year anniversary launch of the BIT, Russian national competition of technological business plans. Last Monday, Scott had a chance to speak via teleconference to BIT participants in Russia, greeting them on behalf of MassChallenge and emphasizing the importance of business plan competitions.

"Russia continues to be a hub of innovation, thanks to great investment organizations, like RVC. They are making great efforts to develop the next generation of ideas and technologies. We are excited to have a strong pool of applicants from Russia this year. We had nine companies enter Round 2 and four made it to the accelerator round," said Scott.

During this year’s competition, RVC USA will provide business advice and mentorship to the Russian and other MassChallenge teams. The MassChallenge startup competition is scheduled to commence June 25, 2013 and conclude with an awards ceremony October 30, 2013.


About RVC USA
RVC USA, formerly known as Russian Venture Company USA, Inc., was established as a representative of RVC, a Russian government $1B fund of funds, to promote bilateral investment opportunities and innovation collaboration between Russia and the US. The firm is headquartered in Boston and has an additional office in Silicon Valley. For more information on RVC USA, please visit www.RVC-USA.com.

Media Contact Information
Michelle Lampa, Program Director
Email: Michelle.Lampa@rvc-usa.com
Phone: (857) 284-7220


About MassChallenge

MassChallenge runs a $1M global startup accelerator and competition to catalyze the launch and success of high-growth, high-impact new businesses. The competition is open to any startup in the world, in any industry. MassChallenge is designed to identify, strengthen and facilitate funding for the world’s highest impact startups, and the judging criteria are focused on the entrant's proposed impact and their potential for success. For more information please visit www.masschallenge.org.