HELSINKI — The Skolkovo startups currently taking part in Slush, the annual large-scale tech startup event held in Helsinki, are better prepared than ever before, the Skolkovo Foundation’s vice president for strategy and investment, Ekaterina Inozemtseva, told sk.ru on the sidelines of the giant conference.
The stand shared by the Skolkovo Foundation and RVC at Slush on Wednesday. Photo: Sk.ru.
Forty-seven Skolkovo startups are taking part in Slush, which runs from November 30 to December 1, by exhibiting their products and services at a stand shared with Russian Venture Company, another Russian state development institution.
“This is already the fourth Slush that Skolkovo has actively participated in, and if you compare our participation now with previous years, there is a huge difference. We have learned how to make use of Slush,” said Inozemtseva.
“To make use of an event like Slush, which at first glance resembles total chaos, you have to prepare in advance, by arranging meetings with the people you want to meet,” she explained. “All of our startups came prepared this year.”
Resident startups were warned of the importance of preparation for Slush during a recent two-day training bootcamp run by Finnish entrepreneur and business coach Aape Pohjavirta.
Many of the Skolkovo startups taking part in Slush are seeking investment, while others are looking for foreign partners to help them enter new markets.
“This year, 47 of our companies have come here, and four of them are taking part in the Slush 100 Pitching Competition,” said Inozemtseva.
The four Skolkovo companies that were selected by Slush experts to take part in the competition are Marvelmind Robotics, which won the first prize at Slush Shanghai in October for its accurate indoor navigation system; Tau Tracker (Nastec), a magnetic motion tracker for use in AR/VR and 3D apps; Aeroxo, a developer of long-range unmanned aerial vehicles; and Navigine, another precise indoor positioning platform, which attracted $400,000 in investment from a syndicate led by Finnish fintech company Innovestor earlier this year.
The competing projects will be judged by a five-member jury of investors and industry experts, who will assess the product, its market potential, gained traction, the team’s competence and investment readiness. The award for this year’s Pitching Competition has not yet been announced. In 2015, the prize was an equity investment of 650,000 euros.
“There are many more Russian companies taking part, and that’s also a very positive thing,” added Inozemtseva.
On Thursday, the second day of Slush, more Russian startups will have the opportunity to pitch their projects to international investors at the Skolkovo and RVC stand as part of the Russian Tech Showcase event.
In addition to helping resident startups to identify and arrange meetings with potential investors and partners, foundation representatives are also holding meetings with technoparks and innovation centres from other countries to establish collaboration programmes and exchange expertise, said Inozemtseva.