1. Startup Accelerator Network
based on project FUEL
(EURECA II, USRF)
Nikolai R.Toivonen, NRU ITMO
FROM SCIENCE TO BUSINESS
SPb, May 15, 2013

2. Startup Acceleration:
“deal flow”
“Death Valley”
IP
Business
Idea
Business
Model
Prototype Product
How to raise the survival rate of startups passing
through “Death Valley”?

3. Startup Acceleration:
“deal flow”
“Death Valley”
IP
Business
Idea
Business
Model
Prototype Product
University Business -
Incubator
Technology
Park

4. Startup Acceleration:
“deal flow”
IP
Business
Idea
Business
Model
Prototype Product
University Business -
Incubator
Technology
Park
SC SL SA
Regional
innovative
corporations
HEI,
Inno-
vato
rs
Startup Class
(SC): training
in entrepre-
neurship
Startup-
laboratory
(SL): training
+ mentoring
Startup
Accelerator
(SA): funding
+ mentoring

5. Startup Laboratory
SUMIT Marathon
 18 startups (USA, France,
Czech Republic, Finland,
Belarus)
 30 trainings
 1200 participants
SUMIT Invest Day
 15 investors
 10 start-ups
 200
Калининград, 19 октября 2012 г.
November 2012
Result:
Over 10 startup projects
attracted seed and
venture funding
SUMIT weekend
 400
 150
July 2012 2 days 39 days 2 days

6. Startup Laboratory
Visit of Prof. V. Vasilev – NRU ITMO President and
Prof. G. Block – UCLA Chancellor to the SL “SUMIT”,
August 2012.

7. Startup Acceleration:
“cash flow”
Startup
Class
Startup
Lab
Startup
Accelerator
Interest /
Share sale
Grant (e.g.
USRF)
Grant (e.g.
USRF)
Regional
authority
Investors
(pre-seed,
seed)
Business
idea
Business
model
Prototype
Product,
company
Regional
innovative
corporations
MARKET
Investors
(round A-D)
OR

8. Startup Accelerator,
affiliated with ITMO
I. Basic information - SA “iDealMachine” case:
 provides investments ($20,000 for 3 months) for projects in
their earliest stages (acceleration period).
 provides intensive training for teams and prepares them for
their entrance into the market
 invests with other partner venture funds in most
accelerated projects
II. Results:
 in the first session (15 March – 25 June, 2012) there were
8 companies accepted, including 3 projects from SL and
SC of NRU ITMO
 the basic volume of investments is $160k
 at the moment 7 of 8 projects continue their activity
 all 7 projects have already attracted the next round of
investments, a total volume of US$1,3M

9. FUEL project:
Partnership format
The FUEL project (Future University and Entrepreneurship
Leaders) supported by the USRF:
1. The initiator: NRU ITMO
2. Partners: UCLA, NRU HSE
3. Main purpose:
Building an acceleration system in Russian regions to provide
a flow of university startups and integrating the system into the
regional innovative ecosystem, particularly for the benefit of
regional “development institutes” and other interested
organizations
4. Time frame: 2013-2014, prolongation to 2015-2016.
5. Beneficiaries:
 5-7 Russian regions;
 Universities and research institutions;
 Subjects of the regional innovative ecosystem.

10. FUEL project:
Partnership format
continued:
6. Project budget (layout for 2 years):
а. USFR funding: US$ 2M (2013-2014) –project team support
(travels, salary etc.)
b. Region co-funding: ca. 25M RR (ca. US$0,8M) - to cover
expenses of local experts involved into the project
implementation
c. External financial institutions’ contribution: $20-25M to
create seed fund, including:
 Regional venture funds;
 RVC JRC and other development institutions;
 Private individuals and legal entities, including those
from other countries.

11. Expected results
I. Qualitative results – improvement/formation of:
 The innovative ecosystem in the Russian and US
regions, incl. effective collaboration between universities
and regional representatives of “development institutes”,
clusters, financial institutions etc.
 Talent pool for the development of regional innovation
ecosystems of Russia and the U.S.
 Sustainability of the business projects flow in the regions
- from universities to industry and markets
 Additional mechanisms of venture funding for regional
startups
 Pool of competences to help startups enter the high-tech
market in the U.S. and Russia

12. Expected results
II. Quantitative results:
 Created regional acceleration systems “SC-SL-SA”: 5
 Trained regional trainers: 40
 Established pool of mentors to work in the SL: 80
 Business projects passed through regional SLs: 80
 Business projects passed through regional SAs: 25
 The total capital of regional SAs: $25М
 The number of partners in SA network: 10
 The number of trainings where regional innovative
managers and startup founders participated to get
the U.S. experience, incl. DeepDive (San Francisco): 20

13. Russia – US
University SA Partnership
Partner
universities with
new SAs
Pool of mentors
and SA
managers
New SAs in
Russian and
US regions
The flow of
mutually funded
startups
Cooperation
activities and
events
Entering the US
and Russian
markets
…

14. Required support
Proposals to U.S.- Russia Innovation Working Group to
support creation of Russia – US University SA Partnership:
1. Identification of Russian and U.S. regions interested in
creation of Startup Accelerators
2. Identification of Russian and U.S. Higher Education
Institutions who are interested and able to build Startup
Accelerators
3. Identification of financial institutions and programs,
“Development Institutions” etc. interested in founding
Startup Accelerators and support of partnerships between
Russian and U.S. startups
4. Support of dissemination information about Startup
Accelerator activities among interested institutions (e.g.
innovative and territorial clusters)

15. Thank you for your attention!
toivonen@mail.ifmo.ru
+7 812-457-18-05