The mission to raise awareness in Skolkovo got a boost on Wednesday with a snappy speech from strategy director Ekaterina Inozemtseva at Europe’s biggest startup conference, Slush 2014.
Speaking in front of hundreds of potential investors and company executives on the Helsinki event’s silver stage, Inozemtseva focused on the advantages for foreign companies of entering the Russian market through Skolkovo with the help of its Soft Landing program.
“Skolkovo is a beautiful place to develop your business in Russia,” she told the crowd. “It’s hard to start your business in Russia if you come from another country.”
Skolkovo strategy director Ekaterina Inozemtseva at Slush 2014. Photo: sk.ru
Soft Landing launched earlier this year and is already attracting interest from foreign companies due to its wealth of benefits, which include free office space, access to grants, and administrative support – which can be a lifesaver in a country that has its fair share of bureaucracy.
Inozemtseva’s talk, titled “No fear: Russia is open for innovations,” began with a rundown of Skolkovo’s often underplayed achievements. In three years, over 1,000 startups have become resident companies, registering over 1,000 patents (many abroad), and racking up in excess of $500 million in revenue. Skolkovo has attracted 70 venture funds with over $1 billion in soft commitments.
Joining the project for foreign companies takes a maximum of 25 days from start to finish in three relatively painless steps: Applying, creating the legal entity in Russia, and starting business.
Participating companies have access not only to Skolkovo’s Technopark but also to 26 partner institutions across Russia, allowing them to make use of facilities and talent wherever they need to operate.
Inozemtseva also noted: “We have already created a great investors community” that includes not only venture investors but also a business angels group.
Skolkovo’s presence at this year’s Slush is three times greater than in 2013. Fifty-three residents are on show at the Skolkovo stand.