Academic Tech Incubator set up in private-public partnership
The RVC Infrafund and the Rusnano and RAS Tech Transfer Center in partnership with yet-unnamed private investors have set up the Russian Academy of Sciences’ Tech Business Incubator, RVC (Russian Venture Company) announced.
The new entity is said to be focused on incubating advanced technologies in material science. RAS Tech Business Incubator’s resident projects may expect to get support in project screening, business plan development, legal issues, teambuilding, market promotion, fundraising, etc.
To get access to all these services a start-up is expected to give the Incubator an up to 10% stake in the young company.
In 2014, the RAS Tech Business Incubator team will reportedly concentrate on supporting projects that develop artificial diamond, laser and biocompatible material technologies.
The new infrastructure program is said to be mature enough already to be able to create four or five companies within its first year of operation. Longer term, a portfolio of 20 start-ups is envisioned.
The Rusnano and RAS Tech Transfer Center, one of the Incubator co-founders, is a nonprofit partnership established in 2011 to screen the Russian Academy of Sciences’ regional units for commercially viable projects. Over the past two years a reported 20 small innovation companies have been set up, about $14m in investment raised, and 14 companies have joined the Skolkovo project as residents.