Internet initiatives development Fund opened the first order taking on financ

Internet initiatives development Fund opened the first order taking on financInternet Initiatives Development Fund started order taking for participation in accelerator, and also for Startups financing. Till the end of 2013 it is planned to finance 40 Startups.

Accelerator – is the onsite three-month express-program for teams from 2-4 people on education on how to make/improve/complete the project. The accelerator of Internet Initiatives Development Fund will offer participants educational courses, expert support and financing in amount of up to 1M RUB to each participant. As a result, at the end of accelerator the team presents its project at a Demo Day and can count on financing in amount of 14,5M RUB. These funds will give the possibility for young projects to execute a more scaled establishment, widen audience or enter new markets.

“Start of the Accelerator and the first selection will cost the Internet Initiatives Development Fund $2M” – commented director of the Fund Kirill Varlamov.

At the moment it is possible to file an application on projects` financing, which are at more advanced stages of development, not requiring acceleration. The Fund expects to select about ten analogues projects. Each of them will receive the sum up to 288M RUB depending on the development stage and business needs.

“During two weeks since starting the first registration of projects at the site of the Internet Initiatives Development Fund we have received more than thousand of ideas. Most of all Internet-entrepreneurs are interested in such spheres as farming, health, local tourism, remote education, local social networks and financial services”, - said Mr.Varlamov.

Order taking is opened for all citizens of Russia, who has an idea of Internet-project, and a wish to realize it. Order taking will continue till September 9, 2013.