{{short description|Russian venture capital fund}} {{Infobox organization | name = Internet Initiatives Development Fund | logo = Iidf Logo.svg | founder = | location = Moscow, Russia | key_people = Kirill Varlamov, CEO | region_served = Russia | focus = Venture capital | method = Funding, Grants, Program Support, Advocacy | website = {{URL|http://www.iidf.ru}} }}
The '''Internet Initiatives Development Fund''' ('''IIDF''', stylized in lowercase in its logo, {{langx|ru|Фонд развития интернет-инициатив}}) is a Russian venture capital fund established by the ''Agency for Strategic Initiatives''. The Foundation invests in technology companies in the early stages of development, develops a network of start-up accelerators, and is involved in the development of methods of legal regulation of the venture industry.
Since 2013, IIDF has been the most active investment fund in Russia.<ref name=2013-active-json>{{cite web |url = http://json.tv/en/ict_telecom_analytics_view/russian-venture-investment-market-results-of-2014 |title = Russian Venture Investment Market, Results of 2014 |date = 2015-03-09 |publisher = J’son & Partners Consulting |accessdate = 2015-06-23 |archive-date = 2015-06-17 |archive-url = https://web.archive.org/web/20150617191238/http://json.tv/en/ict_telecom_analytics_view/russian-venture-investment-market-results-of-2014 |url-status = dead }}</ref><ref name=2014-active-json>{{cite web |url = http://json.tv/en/ict_telecom_analytics_view/russian-venture-market-in-2013-2014083111352975 |title = Russian Venture Market in 2013 |date = 2014-08-31 |publisher = J’son & Partners Consulting |accessdate = 2015-06-23 |archive-date = 2015-06-17 |archive-url = https://web.archive.org/web/20150617190223/http://json.tv/en/ict_telecom_analytics_view/russian-venture-market-in-2013-2014083111352975 |url-status = dead }}</ref> According to the Dow Jones report, IIDF was ranked first in Europe by the number of transactions in the first quarter of 2014.<ref name=2014-1q-number-dowjones>{{cite web |url = https://images.dowjones.com/company/wp-content/uploads/sites/15/2014/04/Dow-Jones-VentureSource-1Q14-EMEA.pdf |title = Dow Jones VentureSource’s Europe data for 1Q 2014 |date = 2014-04-15 |publisher = J’son & Partners Consulting |accessdate = 2015-06-23 }}</ref> By April 4, 2015, the fund has financed 150 projects, including 104 deals in 2014.<ref name=number-fin>{{cite web |url = http://fingazeta.ru/technology/internet-kak-eto-delaetsya-v-rossii-196081/ |title = Интернет. Как это делается в России |author = Алексей Земцов |date = 2015-04-04 |publisher = Crn.ru |accessdate = 2015-06-23 |language = Russian |archive-date = 2015-06-17 |archive-url = https://web.archive.org/web/20150617211046/http://fingazeta.ru/technology/internet-kak-eto-delaetsya-v-rossii-196081/ |url-status = dead }}</ref><ref name=number-crn>{{cite web |url = http://www.crn.ru/numbers/reg-numbers/detail.php?ID=101585 |title = Венчурные инвестиции на фоне кризиса |author = Александр Плитман |date = 2015-04-10 |publisher = Crn.ru |accessdate = 2015-06-23 |language = Russian |archive-date = 2015-09-23 |archive-url = https://web.archive.org/web/20150923211427/http://www.crn.ru/numbers/reg-numbers/detail.php?ID=101585 |url-status = dead }}</ref> IIDF is planning to invest 6 billion roubles in 400 companies by 2017.<ref name=pre-history-tass>{{cite web |url=http://itar-tass.com/politika/571672/ |title=Фонд поддержки инициатив в интернете начнет деятельность в самое ближайшее время, сообщил гендиректор АСИ |date=2013-05-03 |publisher=ИТАР-ТАСС |language=Russian |accessdate=2014-10-28 }}</ref>
Kirill Varlamov is the director of the Foundation.<ref name=serious-people-gazeta>{{cite web |url = https://www.gazeta.ru/business/2013/07/15/5428369.shtml |title = Государство сыграет в венчур |author1 = Яна Милюкова |author2 = Екатерина Брызгалова |date = 2013-07-15 |publisher = Gazeta.ru |accessdate = 2015-06-23 |language = Russian }}</ref> {{TOC left}}
== History == The idea of creating a fund to support socially significant initiatives was first voiced at a meeting of the Supervisory Board of the Agency for Strategic Initiatives on November 22, 2012.<ref name=putin-initiative-2012-kremlin>{{cite web |url = http://kremlin.ru/events/president/news/16871 |title = Заседание наблюдательного совета Агентства стратегических инициатив 22 ноября 2012 года |date = 2012-11-22 |publisher = Kremlin.ru |accessdate = 2015-06-23 |language = Russian }}</ref> It was a suggestion implied creation of a tool of public-private partnership for the development of Internet projects specifically in Russia, a new priority of the Agency's work. At the next meeting of the Supervisory Board on March 5, 2013, the Agency introduced an online support fund project for entrepreneurial initiatives, and its future director.<ref name=putin-initiative-2013-kremlin>{{cite web |url = http://kremlin.ru/events/president/news/17633 |title = Заседание наблюдательного совета Агентства стратегических инициатив 5 марта 2013 года |date = 2013-03-05 |publisher = Kremlin.ru |accessdate = 2015-06-23 |language = Russian }}</ref><ref name=5-march-cnet>{{cite web |url = http://www.cnews.ru/top/2013/03/06/putin_obyavil_o_sozdanii_fonda_dlya_internetstartapov_na_6_mlrd_rubley_521494 |title = Путин объявил о создании фонда для интернет-стартапов на 6 млрд рублей |author = Александр Левашов |date = 2013-03-06 |publisher = CNews.ru |accessdate = 2015-06-23 |language = Russian }}</ref> The objective of the fund was to create an infrastructure for expert and financial start-up support in the early stages of development, i.e., in the course of prototype development and market entry.<ref name=death-valley-vedomosti>{{cite web |url = https://www.vedomosti.ru/management/articles/2013/04/12/finansirovanie_narodnoe |title = Сколько денег американцы и россияне готовы инвестировать в стартапы |author = Римма Авшалумова |date = 2013-04-12 |publisher = Ведомости |accessdate = 2015-06-23 |language = Russian }}</ref>
The volume of the fund, entitled The Foundation for Internet Development-Initiatives, amounted at 6 billion roubles and was formed using the funds of major Russian companies.<ref name=money-itweekly>{{cite web |url = http://apparat.cc/news/iidf-internet-of-things/ |title = Госфонд профинансирует российские гаджеты и облачные технологии |author = Виталий Васильченко |date = 2014-09-25 |publisher = Apparat.cc |accessdate = 2015-06-23 |language = Russian |archive-date = 2015-06-17 |archive-url = https://web.archive.org/web/20150617210938/http://apparat.cc/news/iidf-internet-of-things/ |url-status = usurped }}</ref>
== Acceleration Programme == One of the key areas of IIDF's activities is represented by three-month business acceleration programmes.<ref name=ycombinator-vedomosti>{{cite web |url = http://www.vedomosti.ru/newspaper/articles/2013/07/15/rossijskim-startapam-sobrali-6-mlrd-rub |title = Российским стартапам собрали 6 млрд руб. |author = Анастасия Голицына |date = 2013-07-15 |publisher = Ведомости |accessdate = 2015-06-23 |language = Russian }}</ref> Under the guidance of a curator, teams undergo a 120-hour training course that consist of eight parts and includes sessions on marketing, sales organisation, development as well as consulting on company development. Team work is monitored by invited experts and representatives of other funds.<ref name=1-accelerator-cnews>{{cite web |url = http://internet.cnews.ru/news/line/index.shtml?2013/10/02/545094 |title = Фонд развития интернет-инициатив отобрал 50 стартапов со всей России в свой первый акселератор в Москве |date = 2013-10-02 |publisher = CNews.ru |accessdate = 2015-06-23 |language = Russian |archive-url = https://web.archive.org/web/20150617185840/http://internet.cnews.ru/news/line/index.shtml?2013%2F10%2F02%2F545094 |archive-date = 2015-06-17 |url-status = dead }}</ref>
There are two types of acceleration: on-site and distance acceleration. For 7% in the company's share capital, IIDF provides participants of the full-time acceleration programme with workspace in the coworking and pre-seed investments in the amount of 1.4 million roubles, including the cost of the acceleration programme in the amount of 600,000 roubles. Participants of the distance acceleration programme work with curators and consultants remotely, and the Foundation does not receive the company's shares. Start-ups to succeed in acceleration programme present their projects to private investors and representatives of venture capital funds and are likely to get seed investments amounting at up to 14.5 million roubles.<ref name=what-is-iidf-acceleration-silicon>{{cite web |url = http://siliconrus.com/2013/10/meanwhile-2/ |title = Реалити-шоу "Дорога к IPO" на примере стартапа Meanwhile, часть 2 |author = Владимир Зимогоров |date = 2013-10-18 |publisher = Siliconrus.com |accessdate = 2015-06-23 |language = Russian |archive-date = 2015-03-30 |archive-url = https://web.archive.org/web/20150330183459/http://siliconrus.com/2013/10/meanwhile-2/ |url-status = dead }}</ref>
In order to prepare teams for participation in acceleration programmes, IIDF established the so-called pre-accelerator, focusing on the development of start-up business models and improving their investment attractiveness.<ref name=preacceleration-silicon>{{cite web |url = http://siliconrus.com/2014/02/frii-preaccelerator/ |title = Преакселератор ФРИИ сделает из вялых стартаперов настоящих зубров бизнеса |author = D.B. Cooper |date = 2014-02-21 |publisher = Siliconrus.com |accessdate = 2015-06-23 |language = Russian }}</ref><ref name=preacceleration-apptracktor>{{cite web |url = https://apptractor.ru/learn/dmitriy-voloshin-mail-ru-navyiki-razrabotki.html |title = Дмитрий Волошин (Mail.Ru Group): навыки разработки – это фундамент, на котором в дальнейшем можно что-то построить |author = Дмитрий Волошин |date = 2014-10-22 |publisher = Apptracktor.ru |accessdate = 2015-06-23 |language = Russian }}</ref>
=== Moscow === The first acceleration programme was made available for submission of applications on July 15, 2013. In a month, the Foundation received 993 applications, 199 of which were rejected as non-core. The Foundation interviewed all the teams, selecting 50 participants of the on-site and 50 participants of the distance acceleration programme.<ref name=2-accelerator-cnews>{{cite web |url = http://biz.cnews.ru/news/top/index.shtml?2014/02/27/562580 |title = Путинский фонд раздаст интернет-стартапам 47,6 млн руб. |date = 2014-02-27 |publisher = CNews.ru |accessdate = 2015-06-23 |language = Russian |archive-url = https://web.archive.org/web/20150617194308/http://biz.cnews.ru/news/top/index.shtml?2014%2F02%2F27%2F562580 |archive-date = 2015-06-17 |url-status = dead }}</ref> Immediately after the start of the first acceleration programme, a new programme was opened for submission of applications. 34 start-ups participated in the second acceleration programme launched at the end of February 2014.<ref name=3-accelerator-iidf>{{cite web |url = http://www.iidf.ru/news/fund/zapushchen-3-y-akselerator-frii/ |title = Запущен 3-й Акселератор ФРИИ |date = 2014-06-23 |publisher = ФРИИ |accessdate = 2015-06-23 |language = Russian |archive-url = https://web.archive.org/web/20150617194945/http://www.iidf.ru/news/fund/zapushchen-3-y-akselerator-frii/ |archive-date = 2015-06-17 |url-status = dead }}</ref> The third accelerator was launched in June 2014, bringing together 24 projects.<ref name="3-accelerator-iidf"/> The fourth acceleration programme launched at the end of September 2014 included 38 projects.<ref name=4-accelerator-rusbase>{{cite web |url = http://rusbase.vc/news/frii-4/ |title = ФРИИ проинвестировал 38 проектов со всей России |author = Элина Асгафонова |date = 2014-09-29 |publisher = Rusbase.vc |accessdate = 2015-06-23 |language = Russian |archive-date = 2014-10-28 |archive-url = https://web.archive.org/web/20141028052253/http://rusbase.vc/news/frii-4/ |url-status = dead }}</ref> Also, in the autumn of 2014, the Foundation expanded the area of investment, focusing on technological trends, and began to attract start-ups from the field of the Big data, gadgets, and the Internet of Things.<ref name=bigdata-things-gadgets-izvestia>{{cite web |url = http://izvestia.ru/news/577151 |title = ФРИИ хочет создать российскую Apple |date = 2014-09-29 |publisher = Izvestia |accessdate = 2015-06-23 |language = Russian }}</ref> The fifth on-site acceleration programme that took place from February to April 2015 included 28 projects.<ref name=5-accelerator-silicon>{{cite web |url = http://siliconrus.com/2015/02/next-frii/ |title = ФРИИ отобрал 28 проектов для нового акселератора |author = Игорь Гунько |date = 2014-02-05 |publisher = Siliconrus.com |accessdate = 2015-06-23 |language = Russian |archive-date = 2015-06-15 |archive-url = https://web.archive.org/web/20150615072253/http://siliconrus.com/2015/02/next-frii/ |url-status = dead }}</ref><ref name=5-accelerator-apptracktor>{{cite web |url = https://apptractor.ru/info/articles/pyatyiy-nabor-akseleratora-frii-samoe-interesnoe.html |title = Пятый набор Акселератора ФРИИ: самое интересное |author = Наталья Маркова |date = 2015-04-22 |publisher = Apptracktor.ru |accessdate = 2015-06-23 |language = Russian }}</ref> The sixth on-site acceleration programme lasted from February 6 to March 6, 2015.<ref name=5-accelerator-rusbase>{{cite web |url = http://rusbase.vc/blogs/author/mariaiidfru/startuet-otbor-proektov-v-6-j-akselerator-frii/ |title = Стартует отбор проектов в 6-й Акселератор ФРИИ |date = 2015-02-05 |publisher = Rusbase.vc |accessdate = 2015-06-23 |language = Russian |archive-url = https://web.archive.org/web/20150429041256/http://rusbase.vc/blogs/author/mariaiidfru/startuet-otbor-proektov-v-6-j-akselerator-frii/ |archive-date = 2015-04-29 |url-status = dead }}</ref> In 2015, priority investment areas included telecommunications, software for big businesses, large volume data processing technologies, machine learning, digital content distribution, information security, and intellectual property protection.<ref name=2015-priority-itweekly>{{cite web |url = http://www.it-weekly.ru/analytics/business/70953.html |title = Обзор IT-Weekly (23.03 – 29.03) |date = 2015-03-03 |publisher = It-weekly.ru |accessdate = 2015-06-23 |language = Russian |archive-date = 2015-06-17 |archive-url = https://web.archive.org/web/20150617193548/http://www.it-weekly.ru/analytics/business/70953.html |url-status = dead }}</ref> A total of 174 projects completed IIDF's acceleration programmes.
=== Other Cities of Russia === The Foundation establishes regional acceleration programmes in cities with large technical universities and offices of technology companies.<ref name=ycombinator-vedomosti /> In March 2014, five regional acceleration programmes were established on the basis of existing educational infrastructure – incubators of the Saint Petersburg ''Ingria Technopark'', the ''IT-parks'' in Krasnodar and Kazan, the Akademgorodok Technopark, and ''Ekaterinburg Centre for Enterprise Development''.<ref name=6-online-accelerators-rg>{{cite web |url = http://www.rg.ru/2014/03/18/startap.html |title = Среда для стартапа |author = Евгения Носкова |date = 2014-03-18 |publisher = Rossiyskaya Gazeta |accessdate = 2015-06-23 |language = Russian }}</ref><ref name=5-regional-accelerators-dk>{{cite web |url = https://kazan.dk.ru/news/fond-razvitiya-internet-iniciativ-otkryvaet-zaochnye-akseleratory-v-shesti-gorodax-rossii-236836646 |title = Фонд развития интернет-инициатив открывает заочные акселераторы в шести городах России |date = 2014-03-04 |publisher = Деловой квартал |accessdate = 2015-06-23 |language = Russian }}</ref> In the summer of 2015, IIDF established a distance acceleration programme in Sevastopol.<ref name=sevastopol-kommersant>{{cite web |url = https://www.kommersant.ru/doc/2454073 |title = ФРИИ ищет стартапы в Крыму |author = Роман Рожков |date = 2014-04-17 |publisher = Коммерсантъ |accessdate = 2015-06-23 |language = Russian }}</ref> Also that year, on September 1, on the basis of ''Ingria'', the first regional on-site acceleration programme was established.<ref name=ingria-rbc>{{cite web |url = http://i.rbc.ru/anons/item/frii_obyavil_ob_otkrytii_ochnogo_akseleratora |title = ФРИИ объявил об открытии очного акселератора в Санкт-Петербурге |date = 2014-06-23 |publisher = RBC Information Systems |accessdate = 2015-06-23 |language = Russian |archive-date = 2014-11-09 |archive-url = https://web.archive.org/web/20141109114922/http://i.rbc.ru/anons/item/frii_obyavil_ob_otkrytii_ochnogo_akseleratora |url-status = dead }}</ref>
Saint Petersburg State University of Information Technologies, Mechanics and Optics is a partner in the development of IIDF's accelerator network that in the past launched its own start-up accelerator, ''iDealMachine''.<ref name=itmo-venturevolga>{{cite web |url = http://venturevolga.com/internet-initiatives-development-fund-will-create-accelerators-in-regions.html |title = Internet initiatives development Fund will create accelerators in regions |date = 2013-08-23 |publisher = Venturevolga.com |accessdate = 2015-06-23 |language = Russian |archive-date = 2013-09-06 |archive-url = https://web.archive.org/web/20130906074124/http://venturevolga.com/internet-initiatives-development-fund-will-create-accelerators-in-regions.html |url-status = usurped }}</ref>
=== Joint Accelerators === In September 2014, a joint acceleration programme of IIDF and Microsoft was launched for start-ups in the fields of education, health care, trade, production, services, financial sector, and municipal services.<ref name=microsoft-iidf-rusbase>{{cite web |url = http://rusbase.vc/news/industrial/ |title = ФРИИ и Microsoft запускают индустриальную акселерацию |author = Элина Асфаганова |date = 2014-09-18 |publisher = Rusbase.vs |language = Russian |accessdate = 2015-04-10 |archive-date = 2015-07-21 |archive-url = https://web.archive.org/web/20150721224943/http://rusbase.vc/news/industrial/ |url-status = dead }}</ref> The acceleration programme includes two rounds of grant financing, technological support and access to the cloud infrastructure provided by Microsoft, expertise, and assistance in securing the next round of investments provided by IIDF as well as working space for the period of acceleration.<ref name=microsoft-iidf-venture>{{cite web |url = https://www.venture-news.ru/news/54418-frii-i-microsoft-zapustili-akselerator-dlya-b2b-startapov.html |title = ФРИИ и Microsoft запустили акселератор для B2B-стартапов |date = 2014-09-23 |publisher = Venture-news.ru |language= Russian |accessdate = 2015-04-10 }}</ref> Also, the Foundation for Internet Development-Initiatives participated in the preparation of the programme for projects in the field of IT as part of ''GenerationS'' acceleration programme launched by RVC and Moscow Innovation Development Centre in July 2014.<ref name=generations-nanonews>{{cite web |url = http://www.nanonewsnet.ru/news/2014/startoval-krupneishii-po-kolichestvu-uchastvuyushchikh-proektov-akselerator-web-ready-gene |title = Стартовал крупнейший по количеству участвующих проектов акселератор Web Ready GenerationS |date = 2014-07-17 |publisher = Nanonews.net |accessdate = 2015-06-23 |language = Russian }}</ref>
Since November 2014, Rambler&Co has been working on two acceleration programmes: one is being created in conjunction with IIDF, the other one, in cooperation with RVC. The acceleration programme in conjunction with the Foundation for Internet Development-Initiatives will be operating under the brand name Rambler to support projects from the fields related to the activities of the corporation – advertising, entertainment, Internet items, and e-commerce.<ref name=rambler-iidf-roem>{{cite web |url = https://roem.ru/11-11-2014/108378/rambler-prishel-vo-frii-chtoby-prevratitsya-iz-media-v-internet-kompaniyu/ |title = Рамблер пришел во ФРИИ, чтобы превратиться из медиа в интернет-компанию |date = 2014-11-11 |publisher = Roem.ru |language= Russian |accessdate = 2015-04-10 }}</ref>
=== Other Educational Projects === IIDF is cooperating with investment funds and business incubators in the regions, provides consulting services, and implements educational programs. In Vladivostok,<ref name=sprint-vladivostok>{{cite web |url = https://primamedia.ru/news/primorye/07.08.2014/377382/sovremenniy-biznes---primoryu-otsenil-proekti-molodih-startaperov.html |title = "Современный бизнес - Приморью" оценил проекты молодых стартаперов |date = 2014-08-08 |publisher = РИА PrimaMedia |accessdate = 2015-06-23 |language = Russian }}</ref> Yakutsk,<ref name=sprint-yakutsk>{{cite web |url = http://yakutia.info/success/168121 |title = ФРИИ проведет стартап-школу "Спринт" в Якутске |date = 2015-02-25 |publisher = Якутия.инфо |accessdate = 2015-06-23 |language = Russian }}</ref> Perm,<ref name=sprint-perm>{{cite web |url = http://mirs.permkrai.ru/about/news/734/ |title = Стартап-Школа "Спринт" откроет двери для студентов Пермского края |date = 2014-10-21 |publisher = Министерство информационного развития и связи Пермского края |accessdate = 2015-06-23 |language = Russian |archive-date = 2016-03-04 |archive-url = https://web.archive.org/web/20160304083617/http://mirs.permkrai.ru/about/news/734/ |url-status = dead }}</ref> and Sevastopol, the Foundation has established a multi-day start-up school.<ref name=sprint-sevastopol>{{cite web |url = http://sloboda.it/event/startap-shkola-sprint/ |title = Стартап школа "Спринт" |date = 2014-09-19 |publisher = IT Слобода |accessdate = 2015-06-23 |language = Russian |archive-date = 2015-06-17 |archive-url = https://web.archive.org/web/20150617194302/http://sloboda.it/event/startap-shkola-sprint/ |url-status = dead }}</ref> In Tomsk, IIDF annually organises trainings as part of the ''Gorod IT'' conference.<ref name=gorodit-websib>{{cite web |url = https://obzor.westsib.ru/article/398551 |title = Город IТ. Руслан Фатиханов: Что будет с единственной отраслевой IТ-конференцией в Томске |date = 2013-11-28 |publisher = Websib.ru |accessdate = 2015-06-23 |language = Russian }}</ref> The Foundation supports the start-up nomination at the ''HackDay'' hackathon.<ref name=hackday31-websib>{{cite web |url = https://obzor.westsib.ru/article/413864 |title = Двое суток кодинга. В Томске состоялся HackDay#31 |date = 2014-05-28 |publisher = Websib.ru |accessdate = 2015-06-23 |language = Russian }}</ref><ref name=hackday-itmo>{{cite web |url = https://www.ifmo.ru/ru/viewnews/4679/tehnologicheskiy_startap_za_vyhodnye_v_peterburge_proshel_marafon_HackDay.htm |title = Технологический стартап за выходные: в Петербурге прошел марафон HackDay |date = 2015-03-23 |publisher = Websib.ru |accessdate = 2015-06-23 |language = Russian }}</ref> Monthly, the Foundation holds public meetings and lectures on its own site.<ref name=frii-finest-silicon>{{cite web |url = http://siliconrus.com/2014/11/kalaev-secret-advice/ |title = Дмитрий Калаев, ФРИИ: Как рассчитать стоимость своего проекта для инвесторов |author = Игорь Гунько |date = 2014-11-19 |publisher = Siliconrus.com |accessdate = 2015-06-23 |language = Russian |archive-date = 2015-06-22 |archive-url = https://web.archive.org/web/20150622093453/http://siliconrus.com/2014/11/kalaev-secret-advice/ |url-status = dead }}</ref> The Foundation provides places in pre-acceleration programmes for all finalists of the ''Russian Developers Cup'' – a competition for programmers organised by Mail.Ru Group.<ref name=preacceleration-apptracktor />
In addition, IIDF cooperates with the IT-acceleration programme of Ural Federal University,<ref name=urfu-itebu>{{cite web |url = http://it-eburg.com/text/article/itogi_14_svoi_plany_na_ehtot_god_my_dazhe_perevypolnili/ |title = ITОГИ-14: "Свои планы на этот год мы даже перевыполнили!" |date = 2014-12-26 |author = Сергей Кортов |publisher = It-eburg.com |accessdate = 2015-06-23 |language = Russian |archive-url = https://web.archive.org/web/20150617185326/http://it-eburg.com/text/article/itogi_14_svoi_plany_na_ehtot_god_my_dazhe_perevypolnili/ |archive-date = 2015-06-17 |url-status = dead }}</ref> Kirov ''START UP 43'' acceleration programme,<ref name=startup43-kirov>{{cite web |url = https://kirovnet.ru/news/2014/10/07/kompleksnaya-podderzhka |title = Комплексная поддержка |date = 2014-10-07 |publisher = Kirovnet.ru |accessdate = 2015-06-23 |language = Russian }}</ref> and Dagestan ''Plug and Play''.<ref name=dagestan-mk>{{cite web |url = https://mkala.mk.ru/articles/2014/07/07/dgtu-posetil-polpred-prezidenta-v-skfo-sergey-melikov.html |title = ДГТУ посетил Полпред Президента в СКФО Сергей Меликов |author = Али Дибиров |date = 2014-07-07 |publisher = Московский комсомолец |accessdate = 2015-06-23 |language = Russian }}</ref>
== Investments == The peculiarity of the Russian market of venture investments lies in a small number of business angels, i.e., private investors working with start-ups in the very early stages of development.<ref name=angels-rg>{{cite web |url = http://www.rg.ru/2013/10/15/kontent.html |title = На первый зубок |author = Юлия Воронина |date = 2013-10-15 |publisher = Российская газета |accessdate = 2015-06-23 |language = Russian }}</ref> Angels not only finance companies in the stage of developing business ideas and prototypes, but also act as experts and advisors. IIDF serves precisely in the above-mentioned role, creating conditions for the development of new Internet companies.<ref name=magdanurov-stolica>{{cite web |url = http://stolica.fm/archive-view/9472/2/ |title = "Рунет сегодня" с Максимом Спиридоновым, выпуск 140 |date = 2013-12-23 |publisher = Столица.fm |accessdate = 2015-06-23 |language = Russian }}</ref><ref name=angels-stolica>{{cite web |url = http://stolica.fm/archive-view/8697/4/ |title = "Рунет сегодня" с Максимом Спиридоновым, выпуск 124 |date = 2013-08-26 |publisher = Столица.fm |accessdate = 2015-06-23 |language = Russian }}</ref> Simultaneously, the Foundation teaches new investors to invest in Internet start-ups.<ref name=angels-vz>{{cite web |url = https://vz.ru/news/2013/12/13/664202.html |title = Фонд развития интернет-инициатив открыл Клуб бизнес-ангелов |date = 2013-12-13 |publisher = Vzglyad |accessdate = 2015-06-23 |language = Russian }}</ref> The Foundation operates a business angels club that grants private investors preferences when working with teams participating in acceleration programmes.<ref name=angels-slon>{{cite web |url = http://slon.ru/biz/1012905/ |title = Директор ФРИИ Кирилл Варламов: "Бизнес-ангелов можно обучать? А как же" |author = Евгений Карасюк |date = 2013-10-31 |publisher = Slon Magazine |accessdate = 2015-06-23 |language = Russian |archive-url = https://web.archive.org/web/20150617211650/http://slon.ru/biz/1012905/ |archive-date = 2015-06-17 |url-status = dead }}</ref>
The majority of IIDF investments is represented by seed and pre-seed financing, but the Foundation's portfolio also includes a few substantial transactions.
=== Presentations of Start-Ups === The Foundation for Internet Development-Initiatives has presented acceleration programme projects to Vladimir Putin three times – in November 2013, June 2014, and March 2015. The teams of the first acceleration programme became the participants of the first presentation in Novo-Ogaryovo. During the meeting, the President gave a number of recommendations to start-ups and directed them to the relevant departments. ''ReAction'', a facial recognition system, was recommended to the Federal Migration Service; ''All Tow Trucks of Russia'', to the Ministry of Emergency Situations; ''Dr. Tariff'', an application for the account of expenses for mobile communications, to the Ministry of Communications; ''Elpas'', a system of electronic reporting of housing and communal services, to the newly established Ministry of Construction, Housing and Utilities.<ref name=1st-presentation-1tv>{{cite web |url = http://www.1tv.ru/news/techno/245490 |title = Владимир Путин встретился со специалистами в сфере высоких технологий |author = Анатолий Лазарев |date = 2013-11-05 |publisher = Channel One Russia |accessdate = 2015-06-23 |language = Russian }}</ref><ref name=1st-presentation-vesti>{{cite web |url = http://www.vesti.ru/doc.html?id=1150478# |title = Президентский стартап: компьютерные программы облегчат жизнь россиян |date = 2013-11-05 |publisher = Russia-24 |accessdate = 2015-06-23 |language = Russian }}</ref> ''Norma Sugar'', an application for diabetics, also received the President's approval, and the first deputy head of the Kremlin Chief of Staff, Vyacheslav Volodin, was instructed to submit the site builder of MoyaOkruga.rf municipal unities to the heads of the subjects.<ref name=1st-presentation-pasmi>{{cite web |url = http://pasmi.ru/archive/98787 |title = Технологии в России: от Роснано к стартапам |date = 2013-11-06 |publisher = Первое антикоррупционное СМИ |accessdate = 2015-06-23 |language = Russian }}</ref>
The second presentation was held as part of the forum entitled ''Internet Business in Russia'', organised by the Foundation for Internet Development-Initiatives.<ref name=2nd-presentation-kommersant>{{cite web |url = https://www.kommersant.ru/doc/2483871 |title = Владимир Путин оценит бизнес-процессоры |date = 2014-06-02 |publisher = Коммерсантъ |accessdate = 2015-06-23 |language = Russian }}</ref> IIDF's start-ups were presented not only to Vladimir Putin, but also to such major event guests as Arkady Volozh of Yandex, Dmitry Grishin, Head of Mail.Ru Group, German Klimenko, founder of LiveInternet, and Maelle Gavet,<ref name=2nd-presentation-moscowtimes>{{cite web |url = http://www.themoscowtimes.com/opinion/article/in-front-of-putin-internet-titans-lose-their-nerve/502172.html |title = In Front of Putin, Internet Titans Lose Their Nerve |author = Andrei Soldatov |date = 2014-06-18 |publisher = The Moscow Times |accessdate = 2015-06-23 }}</ref> Head of Ozon.ru. Making a speech, the President used a tool for planting trees called ''Passion Fruit''.<ref name=2nd-presentation-tvrain>{{cite web |url = https://tvrain.tv/teleshow/here_and_now/vylezli_iz_pod_korjagi_i_posadili_6_tysjach_derevev_kak_putin_priruchaet_rossijskij_internet_chast_1-369748/ |title = "Вылезли из-под коряги" и посадили 6 тысяч деревьев. Как Путин приручает российский интернет |author1 = Павел Лобков |author2 = Егор Максимов |author3 = Полина Орлова |author4 = Лев Пархоменко |date = 2014-06-18 |publisher = Dozhd |access-date = 2015-06-23 |language = Russian }}</ref> Vladimir Putin promised to support ''Key to Life'', a system of rapid communication with physicians, and gave instructions on the subject of integrating IIDF's projects into existing state mechanisms.<ref name=2nd-presentation-gazeta>{{cite web |url = https://www.gazeta.ru/business/2014/06/10/6065873.shtml |title = Средь юношей просящих |author = Рустем Фаляхов |date = 2014-06-10 |publisher = Gazeta.ru |accessdate = 2015-06-23 |language = Russian }}</ref> These instructions referred to ''Angry Citizen'', a system of processing applications submitted by citizens; ''Unim Histology'', a system of remote diagnosis of cancer; ''Easy Ten'', an application for studying English; and ''Micronet'', an accounting and data systematisation system for consumption of public resources.<ref name=2nd-presentation-cnews>{{cite web |url = http://biz.cnews.ru/news/top/index.shtml?2014/07/07/578405 |title = Путин дал поручения по итогам встречи с интернетчиками |date = 2014-07-07 |publisher = CNews.ru |accessdate = 2015-06-23 |language = Russian |archive-url = https://web.archive.org/web/20150617193511/http://biz.cnews.ru/news/top/index.shtml?2014%2F07%2F07%2F578405 |archive-date = 2015-06-17 |url-status = dead }}</ref><ref name=2nd-unim-presentation-cnews>{{cite web |url=http://corp.cnews.ru/news/top/index.shtml?2014/07/11/579223 |title=В России создан интернет-сервис для диагностики рака |author1=Денис Воейков |author2=Александр Левашов |date=2014-07-11 |publisher=CNews.ru |accessdate=2015-06-23 |language=Russian |archive-url=https://web.archive.org/web/20150617194151/http://corp.cnews.ru/news/top/index.shtml?2014%2F07%2F11%2F579223 |archive-date=2015-06-17 |url-status=dead }}</ref><ref name=2nd-presentation-ria>{{cite web |url = http://ria.ru/technology/20140610/1011507389.html |title = Путин ознакомился со стартап-проектами в интернете |date = 2014-06-10 |publisher = RIA Novosti |accessdate = 2015-06-23 |language = Russian }}</ref>
At the third meeting on the premises of the presidential residence in Novo-Ogaryovo, start-ups asked for support in the development of the related areas. ''Oppty'', a project related to copyright protection, proposed to include fighting piracy in the article of state expenses. The Director General of Unim Histology requested to include the term ‘remote diagnostics’ in legislation as it would allow to include start-up services in the list of start-up services provided under the mandatory health insurance.<ref name=3rd-presentation-vedomosti>{{cite web |url = https://www.vedomosti.ru/technology/articles/2015/03/30/fond-razvitiya-internet-initsiativ-vnov-pokazal-vladimiru-putinu-startapi |title = Фонд развития интернет-инициатив вновь показал Владимиру Путину стартапы |author = Елизавета Серьгина |date = 2015-03-29 |publisher = Ведомости |accessdate = 2015-06-23 |language = Russian }}</ref> Putin directed ''Poiskstroek'', a start-up that connects material suppliers with construction companies, to the head of Surgutneftegaz, Vladimir Bogdanov; ''Forecast NOW'', a tool for accounting inventory, to the Minister of Economic Development, Alexey Ulyukaev; as well as promised to direct ''Turbazar'', a tourist start-up, to the ''Federal Tourism Agency'', and ''NDFLka.ru'', a tool for filling out tax declarations, to the Federal Tax Service. ''All Tow Trucks of Russia'', the project that repeatedly participated in the meetings with the President, received a recommendation to visit the forum of Shanghai Cooperation Organisation.<ref name=3rd-presentation-kremlin>{{cite web |url = http://kremlin.ru/events/president/news/49019 |title = Встреча с интернет-предпринимателями 27 марта 2015 года |date = 2015-03-27 |publisher = Kremlin.ru |accessdate = 2015-06-23 |language = Russian }}</ref>
== Interaction with the State ==
=== Legislative Initiatives === In June 2015, amendments to the Civil Code proposed by IIDF and ''Private Law Research Centre under the President'', approved by the President on 11 March 2015, are to come into effect.<ref name=legal-2015-runet>{{cite web |url = http://www.therunet.com/news/4131-frii-predlozhit-popravki-v-zakony-ob-ao-i-ooo-i-podderzhit-popravki-po-optsionam |title = ФРИИ предложит поправки в законы об АО и ООО и поддержит поправки по опционам |date = 2015-03-11 |publisher = The Runet |accessdate = 2015-06-23 |language = Russian }}</ref> According to them, the following notions will be introduced to Russian legislation: certification of circumstances,<ref name=comment-warranties group=K>Certification of circumstances involves compensation for the investor's losses by the founder should the former be deliberately misled about the circumstances of the agreement.</ref> option of awarding contracts,<ref name=comment-option-agreement group=K>Option of awarding contracts – an agreement imposing a certain obligation on the company's founder, i.e., to buy out the investor's share should performance targets be not achieved within a specified period of time.</ref> property losses upon the occurrence of certain circumstances not related to breach of contract,<ref name=comment-indemnity group=K>Agreement on compensation for material losses upon the occurrence of certain circumstances not related to actual breach of contract provides for compensation by the company's founder for losses incurred on investors as a result of deterioration in asset quality due to circumstances that do not violate the terms of the contract (for example, due to the claims of tax authorities).</ref> and a number of others.<ref name=legal-2015-vedomosti>{{cite web |url = http://www.vedomosti.ru/newspaper/articles/2015/02/20/zakon-dlya-venchurov |title = Госдума рассмотрит поправки, облегчающие проведение венчурных сделок |author = Дарья Тросникова |date = 2015-02-20 |publisher = Ведомости |accessdate = 2015-06-23 |language = Russian }}</ref> These changes are identical to the standards that exist in countries the jurisdiction of which is given preference by new technological companies, as opposed to Russian jurisdiction.<ref name="legal-2015-vedomosti"/> The above-mentioned amendments will create conditions for registration of companies and conclusion of investment agreements in the Russian legal field.<ref name=legal-2015-kommersant>{{cite web |url = https://www.kommersant.ru/doc/2547339 |title = В стартапы вложатся законами |author = Роман Рожков |date = 2014-08-18 |publisher = Коммерсантъ |accessdate = 2015-06-23 |language = Russian }}</ref>
Along with industry associations and business representatives, IIDF was involved in the preparation of the amendments to the Law on Storage of Personal Data directed to the President through the Internet Ombudsman. The changes proposed by the authors of the letter were intended to clarify the concept of personal data and the scope of the Law.<ref name=personal-rbk>{{cite web |url = http://top.rbc.ru/technology_and_media/17/10/2014/54410e2bcbb20f7be78bfb62 |title = Бизнес подготовил Путину предложения по закону о переносе серверов |author = Дарья Луганская |date = 2014-10-17 |publisher = RBC Information Systems |accessdate = 2015-06-23 |language = Russian }}</ref> The Foundation participated in the preparation of the criteria by which software can be recognised as Russian and its use, approved by the public authorities in accordance with the draft government decree that obliges state agencies to use only Russian software.<ref name=national-geektimes>{{cite web |url = https://geektimes.ru/post/246450/ |title = Госорганам РФ предлагают закупать только отечественный софт с 1 июля 2015 года |author = Анатолий Ализар |date = 2014-02-26 |publisher = Geektimes |accessdate = 2015-06-23 |language = Russian }}</ref>
=== Institute for the Development of the Internet === Together with the {{Interlanguage link multi|Russian Association for Electronic Communications|ru|3=Российская ассоциация электронных коммуникаций}}, {{Interlanguage link multi|ROCIT|ru|3=Региональный общественный центр интернет-технологий}}, ''Media and Communication Union'', and the founder of LiveInternet, German Klimenko, the Foundation for Internet Development-Initiatives co-founded the ''Institute for Development of the Internet''.<ref name=iri-opening-vz>{{cite web |url = https://www.vz.ru/society/2015/3/12/734014.html |title = Институт развития интернета укрепит цифровой суверенитет страны |date = 2015-03-11 |publisher = RBC Information Systems |accessdate = 2015-04-07 |language = Russian }}</ref> This organisation is intended as a discussion platform for representatives of government and Internet companies, under which the parties will reach consensus on difficult issues. It is expected that the Institute will be able to act as an expert in making government decisions affecting the field of information technologies and to protect the interests of users and businesses.<ref name=iri-1tv>{{cite web |url = http://hitech.vesti.ru/news/view/id/6595 |title = Вести.net: обучаемый Zeroth и Институт развития Интернета |date = 2015-03-11 |publisher = Russia-24 |accessdate = 2015-06-23 |language = Russian }}</ref>
== Assessment of the Foundation's Activities ==
=== Ratings === By December 2013, IIDF topped the list of active funds operating for less than one year in the study of the venture industry conducted by ''Firrma.ru'' with the support of the Russian Venture Company and PwC.<ref name=firrma-active-research-rbk>{{cite web |url = http://rbcdaily.ru/business/562949989853343 |title = Firrma.ru выпустила топ-25 самых активных венчурных фондов страны |date = 2013-12-05 |publisher = RBC Information Systems |accessdate = 2015-06-23 |language = Russian |archive-url = https://web.archive.org/web/20150428195207/http://rbcdaily.ru/business/562949989853343 |archive-date = 2015-04-28 |url-status = dead }}</ref> In the ranking of the largest venture capital market participants drawn up by ''Public Opinion Fund'' based on an interview dated January 2014, IIDF and RVK came third after such foundations as Runa Capital and Almaz Capital Partners.<ref name=fom-research>{{cite web |url = https://fom.ru/Ekonomika/11316 |title = Рынок венчурного инвестирования в России в сфере IT. Экспертная оценка состояния рынка стартапов и инвестиций в сфере IT – результаты исследования ФОМ |date = 2014-01-29 |publisher = Фонд «Общественное мнение» |accessdate = 2015-06-23 |language = Russian }}</ref> ''Business Environment magazine'' ({{langx|ru|Деловая среда|italic=yes}}) claimed the creation of IIDF one of the 10 main events in 2013.<ref name=top10-dasreda>{{cite web |url=http://journal.dasreda.ru/practice/4547-top-10-sobytiy-goda |title=Топ-10 событий года. Что повлияло в 2013-м на малый бизнес, венчурный рынок и предпринимательский климат |author1=Екатерина Буторин�� |author2=Юлия Хомченко |author3=Ирина Жаворонкова |date=2013-12-30 |publisher=Деловая среда |accessdate=2015-06-23 |language=Russian |archive-url=https://web.archive.org/web/20150617193309/http://journal.dasreda.ru/practice/4547-top-10-sobytiy-goda |archive-date=2015-06-17 |url-status=dead }}</ref>
In December 2014, the Foundation won in the category ''Seed Investor of the Year'' at ''Venture Awards Russia 2014''. By that time, the Foundation has invested approximately $13 million in 122 projects.
=== Awards === In 2014, the Foundation for Internet Development-Initiatives won the Runet Prize in the category ''Technology and Innovation''.<ref name=runet-rg>{{cite web |url = http://www.rg.ru/2014/11/27/premiya.html |title = Объявлены лауреаты "Премии Рунета 2014" |date = 2014-11-27 |publisher = Российская газета |accessdate = 2015-06-23 |language = Russian }}</ref>
== Criticism == Many market participants reacted positively to the establishment of the Foundation for Internet Development-Initiatives. The founder of Almaz Capital Partners, Alexander Galitsky, and managing partner of {{Interlanguage link multi|Bright Capital|ru}}, Boris Ryabov, approved the newly established alternative to the existing institutions for the development of technology companies – Rusnano, Skolkovo, and Russian Venture Company.<ref name=gal-ryab-critics-kommersant>{{cite web |url = https://www.kommersant.ru/doc/2342344 |title = Капитал очевидность |author = Андрей Лапшин |date = 2013-12-03 |publisher = Коммерсантъ |accessdate = 2015-06-23 |language = Russian }}</ref> Comparing the state structures of business development, one of the authors of the online publication ''Zuckerberg Calls'' described IIDF as the most useful institution that grasps the needs of the market.<ref name=useful-critics-silicon>{{cite web |url = http://siliconrus.com/2014/05/use-less/ |title = Рейтинг государственной бесполезности |author = Степан Данилов |date = 2014-05-13 |publisher = Siliconrus.com |accessdate = 2015-06-23 |language = Russian |archive-date = 2015-06-17 |archive-url = https://web.archive.org/web/20150617190626/http://siliconrus.com/2014/05/use-less/ |url-status = dead }}</ref> Expert-Ural, a magazine and analytical centre, mentioned that the establishment of IIDF acceleration programmes was a recent major step in the formation of infrastructure for the development of IT-companies.<ref name=big-step-critics-expert>{{cite web |url = https://www.expert-ural.com/archive/23-603/pro-oblaka-i-drugie-parashyuti.html |title = Про облака и другие парашюты |author = Ермак Сергей |date = 2014-06-02 |publisher = Expert Magazine |accessdate = 2015-06-23 |language = Russian }}</ref>
Other representatives of the venture capital industry reacted with apprehension to the emergence of a state fund.<ref name=state-and-business-critics-rosbalt>{{cite web |url = http://www.rosbalt.ru/piter/2015/04/07/1386193.html |title = "Большой брат" следит за россиянами |author = Александр Калинин |date = 2015-04-07 |publisher = Rosbalt.ru |accessdate = 2015-06-23 |language = Russian }}</ref> The founder and managing partner of Runa Capital, Dmitry Chikhachev, questioned the ability of the state to effectively invest in private businesses.<ref name=state-and-business-critics-gazeta>{{cite web |url = https://www.gazeta.ru/business/2013/07/15/5428369.shtml |title = Государство сыграет в венчур |author1 = Екатерина Брызгалова |author2 = Яна Милюкова |date = 2013-07-15 |publisher = Gazeta.ru |accessdate = 2015-06-23 |language = Russian }}</ref> The managing partner of {{Interlanguage link multi|Prostor Capital|ru}}, Alexey Soloviev, considered the creation of IIDF to be risky in terms of establishment of state-owned monopoly in the venture capital industry.<ref name=monopoly-critics-gazeta>{{cite web |url = https://www.gazeta.ru/tech/2013/12/18_a_5808881.shtml |title = Рунет без развития |author = Екатерина Брызгалова |date = 2013-12-18 |publisher = Gazeta.ru |accessdate = 2015-06-23 |language = Russian }}</ref>
The chairman of the Investment Committee of ''Waarde Capital'', Vladimir Gromovskiy, in columns of ''Expert Magazine'', described the way in which IIDF was created as ‘unofficial’, criticised its focus on Internet technologies instead of other technology sectors in need of investment.<ref name=monopoly-critics-expert>{{cite web |url = http://expert.ru/2013/07/26/schyoku-razdulo-gubyi---zakatyivati/ |title = Щеку раздуло, губы – закатывать! |author = Владимир Громовский |date = 2013-07-26 |publisher = Expert Magazine |accessdate = 2015-06-23 |language = Russian }}</ref> He characterised the start-ups financed by IIDF as alternative, and the volume of the Foundation, as excess to be able to support projects dismissed by other venture capital funds.<ref name=too-much-critics-expert>{{cite web |url = http://expert.ru/2014/05/30/litsenziya-na-neprigodnost |title = Лицензия на непригодность |author = Владимир Громовский |date = 2014-05-03 |publisher = Expert Magazine |accessdate = 2015-06-23 |language = Russian }}</ref>
==Comments == {{reflist|group=K}}
==References== {{reflist|2}}
Category:Venture capital firms of Russia Category:Financial services companies established in 2013 Category:Companies based in Moscow