iDealMachine Startup Accelerator selects five startups for the spring session

iDealMachine Startup Accelerator selects five startups for the spring sessionTo participate in the spring session iDealMachine Startup Accelerator has selected five start-ups working in such areas as robotics, web services and cloud solutions, analysis and decision making systems, social networks. Till June 21, 2012 the teams will prepare for presentations to the potential investors: it will take place on the Invest Day, which will be held during the XVI St. Petersburg International Economic Forum.

Innovative science intensive high-tech projects will be developed under the guidance of iDealMachine. Young designers having passed multi-level selection will get not only equipped space and infrastructure to develop their projects, but also advice and all-round support of mentors, experienced and successful entrepreneurs.

Unlike typical business incubators iDealMachine in addition to funding will conduct individual and daily work with every startup. The task of the accelerator is to prepare projects for the next round of investment. That is why, startupers together with mentors will work on business models, improve business plans, and sometimes the project itself, which at the output can significantly change in accordance with the realities of the global market.

The startups accepted to iDealMachine start-up accelerator are financed by the Venture Fund RSV Venture Partners estimating $ 6 M. Each project is invested about $ 20,000, depending on the characteristics of each startup.

Supporting youth entrepreneurship is one of our priorities. And we help not only to the guys from ITMO, but all those who have a desire to implement their developments. iDealMachine is one of those tools. For example the second start-up marathon SumIT has passed on the basis of our University in February and March, the winners of which will receive investment from the accelerator and for 3 months will be working in it, says Vladimir Vasiliev, the chancellor of NIU ITMO.

At a press luncheon the guests were presented two projects: Smart Museum, SumIT winter start-up school graduate - new communication technologies for museum visitors, and the project in the field of robotics, based on mathematical solutions for complex systems programming. The results will be announced in three months.