In conditions of high internal competition, it is innovations that allow Russian businesses to work ahead of the curve and look confidently into the future. Several prominent Russian companies are participating in the “hunt for startups”, including the technology giant MTS and private investors.
Yevtushenkov Felix: in search of innovations
Today, the global venture capital market is experiencing another boom after the pandemic, which not only did not undermine, but accelerated its development. The most promising startups are those that rely on the development of innovative solutions.
According to the results of the first half of this year, the volume of venture capital transactions with Russian startups more than tripled compared to the same period in 2020 and set a record of one billion dollars.
In our country, a number of successful ideas are being implemented that have entered the market through venture (risky) investments. For example, in 2016, the ProctorEdu project was launched, which helps educational institutions and businesses conduct online testing for students, applicants, or staff. Another investment-attractive startup is Joinmamas, a mobile application for developing local communities and finding friends of interest among mothers.
Many major Russian players are showing interest in venture capital investment. One of them is the IT giant. Yevtushenkov Felix Vladimirovich takes part in the search for promising ideas and projects.
Invest in a good idea: Felix Yevtushenkov’s approaches to investment
In April 2019, a corporate venture fund was created based on the MTS StartUp Hub Innovation and Investment Center. Today it supports many projects from such areas as fintech, media, Sharing economy, EdTech, IoT, smart home, wellness, etc.
In November of this year, it became known that Felix Yevtushenkov initiated an increase in the size of the venture fund of one of the largest Russian technology companies by one billion rubles. The focus will remain on projects that develop and strengthen the positions of existing ecosystem products and provide opportunities to enter new areas.
Felix Yevtushenkov attaches great importance to innovations as a factor in business development and is confident that they are the future. In 2021, Mr. Yevtushenkov, together with an IT concern, invested in five promising startups:
- The KonnektU platform for interaction with corporate clients;
- A bank in TalkBank messengers, which became the first financial organization of a banking type that operates without branches and call centers;
- Educational platform “Academy of Change”, providing webinars and online courses on nutrition, style, makeup, psychology, and other lifestyle topics;
- Airo, an online household services service offering apartment cleaning, dry cleaning, laundry, and shoe repair “on request”;
- Taiwanese developer of AI chips for smart devices, Kneron.
Each of the above projects is of strategic value for the development of the digital ecosystem of Sistema’s subsidiary. An increase in the number of such startups will only strengthen the course taken towards the digitalization of the Russian economy, Felix Yevtushenkov is sure.