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GoTech invites international startups to secure up to $10 million in funding and develop partnerships in Russia

The contest targets projects from Russia, neighboring countries, Europe and Israel ranging from commercial prototype stage to the scaling stage in a number of areas

May 10, 2018
International startups are invited to participate in HardTech Round, the first open competition for industrial tech projects, to raise investment from Russian private equity fund Rusnano Sistema Sicar and partner with Russia’s major telecom operator MTS.

The winners may receive up to $10 million from the fund.

The contest targets projects from Russia, neighboring countries, Europe and Israel ranging from commercial prototype stage to the scaling stage in a number of areas. These include robotics, microelectronics, energy efficiency, energy storage systems, green chemistry, innovative materials, software development for the B2B market, innovative solutions for the oil and gas industry, integrated security systems, Internet-of-Things solutions, communication equipment, and special communications tools and systems.

Projects with a strong team with industry and technology expertise, a unique and protected technology with the potential for export and scaling up are eligible for the contest. Already commercially successful projects, or those which are already showing first results, will be given priority.

In addition to the investment, the best startup will be invited to pitch at the Moscow International Open Innovations Forum as part of the final stage of the contest.

Besides, a startup which will show the greatest visionary potential and development prospects in the area of application, implementation, growth and attractiveness in the market will be awarded 1 million rubles (around $17,400 at the current exchange rate) in the Best Idea nomination.

MTS, a partner of the contest, has created a special Smart Technology for Smart Cities nomination for digital solutions aimed at improving urban areas. The winner will participate in the MTS program aimed at supporting innovative tech startups, and benefit from a paid pilot project to develop and launch its own solution with the support from MTS.

The HardTech Round jury will include First Vice President of AFK Sistema Felix Yevtushenkov, Head of Investment Division and Deputy Chairman of the Executive Board of Rusnano Management Company Oleg Kiselev, Deputy Chairman of the Management Board and Executive Director of Rusnano Management Company Boris Podolsky, President of AFK Sistema Andrey Dubovskov, Managing Partner of Almaz Capital Partners Alexander Galitsky and others.

Among the members of the Expert Council responsible for the preliminary evaluation of projects and selecting finalists are CEO of Sistema-Consult and investment advisor to Rusnano Sistema Sicar Sergey Dergach, Investment Director of Rusnano Management Company Sergey Amiryan, Managing Director of Phystech Ventures Petr Lukyanov, as well as representatives from the innovative divisions of MTS, Kronstadt Group, Sitronics and other industry experts.

The operator of the HardTech Round competition is GoTech.

Rusnano Sistema Sicar is a private equity fund with $100 million under management created jointly by the Russian conglomerate AFK Sistema and nanotech giant Rusnano in 2016.