RVC and Startup Sauna signed cooperation agreement within the framework of the «Open Innovations» Forum

RVC and Startup Sauna signed cooperation agreement within the framework of the «Open Innovations» Forum

On October 31, 2013 Russian Venture Capital (RVC) and Finnish business accelerator Startup Sauna signed a cooperation agreement. Within the framework of the forum «Open Innovations», the agreement has been signed by Mr. Igor Agamirzyan, Director General of RVC, and Mr. Mikko Kuusi, managing Director of the Startup Sauna.

Startup Sauna is a publicly accessible business accelerator for early-stage startups from North Europe, Baltic countries, and Russia. Startup Sauna twice a year organizes programs for young technology companies from the North European and East European countries. Since 2010 the accelerator has tested more than five hundred startups, and helped them to attract more than $19 million.

Purpose of the joint work is popularization of innovation activities, development of the expert community in the sphere of innovations, implementation of measures for development of innovation projects, and creation of favorable conditions for innovative cooperation in both Russia and Finland.

"Singing of this agreement is an important step towards our common target of promotion of the eco-system of innovation startups in Russia and North European countries. Continuation of our cooperation is participation of RVC, as main partner, together with its foundations and portfolio companies, in the SLUSH conference. We are confident that in the nearest future within the framework of implementation of this agreement we will become witnesses of newly originating international cases of success and new partnerships" – pointed out Mikko Kuusi, Managing Director of Startup Sauna.

It is planned that cooperation is to be carried out in directions of joint analytic researches, organization of conference events and educational programs, and development of legislative initiatives in the sphere of innovations.

«Work carried out within the framework of this agreement will promote quantity and quality of the innovation projects, increase transparency and publicity of activities of the venture foundations and innovation companies – said Igor Agamirzyan, Director General of RVC – Possibilities created by this cooperation will enable to raise the innovation companies’ level of information about existing development and promotion instruments, while events held under this agreement will reinforce connections between the participants of innovation-venture eco-system of the both countries».

About business accelerator Startup Sauna
Startup Sauna — is a publicly accessible business accelerator for promising planting-stage startups. It was created in 2010 in the Aalto University campus, Finland. It organizes programs for young technological companies from the North European and East European countries.
As of the end of 2012, Startup Sauna has tested more than five hundred startups, while total amount of investments was 19 million USD.

About the RVC
RVC was established by the Russian government in 2006 to encourage the country’s venture capital industry and boost venture capital funds. Its roles are that of a government fund of venture capital, channeling public incentives to venture capital and financial support to the high-technology sector; and as a Russian venture capital industry development institution.

About forum «Open Innovations»
Global discussion platform – Forum «Open innovation» - is devoted to the latest technologies and prospects for international cooperation in the field of innovation.
In 2012, the Forum was attended by more than 5000 people from 42 regions of Russia and 38 countries of all over the world. The Forum featured over 150 events official, special and youth programs, which were attended by over 700 speakers from 39 countries of all over the world.

Please request additional information from:
PR department of JSC RVC
Contact person: Yulia Davydova
Phone: (495) 777 01 04, add. 355
E-mail: davydova.yv@rusventure.ru