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WHAT IS SKOLKOVO
• NEWLY BUILT INNOVATION CITY
• MIT-DRIVEN POST-GRADUATE RESEARCH UNIVERSITY
• PIPELINE OF NEW STARTUPS
• VC NETWORK
• UP TO 80 MULTINATIONALS
• TECHNO PARK SERVICES
• DIRECT LINKS TO PRESIDENT AND GOVERNMENT MINISTRIES
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SPECIAL CONDITIONS FOR STARTUPS IN SKOLKOVO
• No VAT or profit tax for up to 10 years if profit is <$10M/year and turnover is <$30M/year
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• Refund of import customs duties and VAT expenses paid during import to the RF customs territory
• 14% unified social tax rate for residents
• Better market access
• Techno park services
• Lower administrative burden
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PIPELINE
1239
225
86
43
Business plans reviewed in 12 months
Skolkovo start-ups
Applied for Grant
Grants approved for the total amount $170m
1 m
onth
2 m
onth
s
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SKOLKOVO GRANTS
>25% private
Grant application
Primary project
selectionDue Diligence Grant Committee
100%
Skolkovo
Investment OfficeCluster
2 months (Unsurpassed speed of delivery of up to $10m USD)
Skolkovo Grants:
Skolkovo
Private Sector
Typical non-dilutive financing amounts
Start-up – up to $1m
Growth – up to $5m
Expansion – up to $10m
Co-investment requirements, % of the total project budget
Start-up – at least 25%
Growth – at least 50%
Expansion – at least 75%
Co-investment preferences
Cash co-investment preferred
Investor’s global track record in particular sector
VCS ACCREDITED WITH SKOLKOVO FOUNDATION
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• Over 20 leading Russian and international VCs signed MoUs with Skolkovo
• ~$300m – soft commitments to invest in Skolkovo residents
• 25 Skolkovo residents are backed by accredited VCs
1. Almaz Capital
2. Exigen Capital
3. Pangaea Ventures
4. S-Group Capital management
5. Runa Capital
6. Foresight Ventures
7. Maxwell Biotech
8. VTB Capital
9. Bioprocess Capital
10. Leader Asset Management
CASE STUDY: ROCK FLOW DYNAMICS
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RockFlow Dynamics, backed by Intel Capital, received grant financing from Skolkovo Foundation.
Rock Flow Dynamics (RFD) develops software for the petroleum industry. It offers a wide range of advanced innovative tools for reservoir engineering implemented in tNavigator – the dynamic reservoir simulator developed by the company.
Established in 2005
Profitable since 2007
Backed by Intel Capital in November 2010
Applied to Skolkovo in June 2011
Received Skolkovo resident status in July 2011
Received Grant financing from Skolkovo in October 2011
2005 … 2007 … IVQ2010 IQ2011 IIQ2011 IIIQ2011 IVQ2011
KEY PARTNERS
RUSSIAN COMPANIESINTERNATIONAL COMPANIES
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THANK YOU
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