Internet Initiatives Development Fund: Acceleration and Investments

The Internet Initiatives Development Fund is a government-backed investment fund that supports the development of internet-related projects and startups in Russia. Established in 2013, the fund has been instrumental in accelerating the growth of the country's digital economy.

The fund invests in projects that have the potential to create new business models, improve the quality of life for citizens, and increase the country's competitiveness in the global market. Its goal is to support the development of a robust and innovative digital ecosystem in Russia.

One of the key initiatives of the fund is the acceleration of internet startups through its various programs and services. This includes providing access to funding, mentorship, and networking opportunities for entrepreneurs and startups.

The Internet Institute is a collaborative effort between the Internet Development-Initiatives Foundation and other organizations. It was co-founded by the Russian Association for Electronic Communications, ROCIT, Media and Communication Union, and German Klimenko, the founder of LiveInternet.

The Institute serves as a discussion platform for government representatives and Internet companies to reach consensus on difficult issues. This platform is designed to facilitate collaboration and problem-solving.

The Institute aims to act as an expert in making government decisions affecting the field of information technologies and protect the interests of users and businesses.

The Internet Institute is a unique organization that brings together government representatives and internet companies to discuss and reach consensus on difficult issues. It was co-founded by the Foundation for Internet Development-Initiatives and other notable organizations.

The Institute aims to act as an expert in making government decisions affecting the field of information technologies. This is a crucial role, as it can help protect the interests of users and businesses.

The Institute is a discussion platform for representatives of government and internet companies. This platform allows for open and transparent communication, which is essential for reaching consensus on complex issues.

The Institute is expected to play a key role in protecting the interests of users and businesses. This is a critical aspect of its mission, as it can help ensure that the internet remains a safe and accessible space for all.

The Internet Initiatives Development Fund (IIDF) has made some significant changes to its investment strategy. It now only invests in new projects from the sale of shares of its existing portfolio projects.

IIDF has a large portfolio, with an estimated value of 7.3 billion rubles, which is almost twice as much as the investment it has received. This shows the fund's potential for growth and return on investment.

IIDF invests in IT projects, with a range of 5 to 200 million rubles. This indicates that the fund is willing to take calculated risks and invest in projects that have the potential to generate significant returns.

The fund plans to invest up to 3 billion rubles in 15 startups. This is a significant commitment to supporting new and innovative businesses.

IIDF also plans to invest 2.25 billion rubles in Russian startups. This shows its focus on supporting the local economy and promoting innovation in Russia.

In addition to investing in domestic startups, IIDF has decided to invest in foreign startups with Russian founders. This is a strategic move to tap into global innovation and talent.

The fund has received significant backing, including 18% ownership by Rostelecom. This partnership will likely provide valuable expertise and resources to the fund's investments.

IIDF offers a comprehensive acceleration program for startups, which includes industry-specific tracks and access to over 250 market experts. This program is designed to provide startups with the support and guidance they need to succeed.

Here's a summary of IIDF's investment plans:

The Internet Initiatives Development Fund (IIDF) offers a range of programs and initiatives to support Russian startups.

One of the key programs is the Acceleration Programme, a three-month business acceleration program that includes a 120-hour training course with a curator.

Teams undergo eight parts of training, including sessions on marketing, sales organisation, development, and consulting on company development.

Experts and representatives of other funds monitor team work.

IIDF provides participants with workspace in a coworking and pre-seed investments of 1.4 million roubles, including the cost of the acceleration programme in the amount of 600,000 roubles, for 7% of the company's share capital.

The Acceleration Programme also includes two types: on-site and distance acceleration.

In the distance acceleration programme, curators and consultants work with participants remotely, and IIDF does not receive the company's shares.

Start-ups that succeed in the acceleration programme may get seed investments amounting to up to 14.5 million roubles.

IIDF also established a pre-accelerator to prepare teams for participation in acceleration programmes, focusing on the development of start-up business models and improving their investment attractiveness.

In addition, IIDF collaborates with LLC Operator Gazprom ID to develop Russian startups in the field of new communication Internet technologies (NKIT) and import substitution.

The Acceleration Programme is a key area of IIDF's activities, offering three-month business acceleration programmes for start-ups. These programmes are designed to help teams develop their business models and improve their investment attractiveness.

Teams undergo a 120-hour training course, consisting of eight parts, which includes sessions on marketing, sales organisation, development, and consulting on company development. The programme is monitored by invited experts and representatives of other funds.

IIDF provides participants with workspace in a coworking and pre-seed investments of 1.4 million roubles, including the cost of the acceleration programme of 600,000 roubles. For 7% of the company's share capital, participants can access this support.

There are two types of acceleration: on-site and distance acceleration. Participants of the full-time acceleration programme work on-site, while those of the distance acceleration programme work remotely.

To prepare teams for the acceleration programme, IIDF established a pre-accelerator, focusing on the development of start-up business models and improving their investment attractiveness.

Here are the key benefits of IIDF's Acceleration Programme:

By participating in the Acceleration Programme, start-ups can gain valuable expertise, assistance in securing investments, and access to a network of experienced professionals.

Geecko programmers can be attracted with an investment of $1 million, as announced by the Internet Initiatives Development Fund (IIDF) on January 17, 2022.

Several other investors also joined in, but their names and investment shares were not disclosed.

The total amount raised by the company was $1 million.

This investment can be a game-changer for companies looking to hire skilled programmers.

Here's a brief overview of the investment:

The Internet Initiatives Development Fund (IIDF) has made 200 investments, with their latest investment being in Smartmetrics as part of their Unattributed VC on November 16, 2024.

IIDF has invested a total of 3.18 billion rubles in 367 startups since the beginning of its operating activities. The value of the portfolio, as of May 2017, is 41% higher than the amount of invested funds and is estimated at 4.36 billion rubles.

The fund's investments are focused on seed and pre-seed financing, with a few substantial transactions also included. IIDF operates a business angels club that grants private investors preferences when working with teams participating in acceleration programmes.

Here are some of the notable investments made by IIDF:

The Internet Initiatives Development Fund (IIDF) is a key player in the Russian venture capital market, with a unique approach to investing in startups. IIDF has made 200 investments, with its latest investment being in Smartmetrics as part of their Unattributed VC on November 16, 2024.

IIDF's investment strategy focuses on seed and pre-seed financing, with a portfolio that includes a few substantial transactions. The fund has invested a total of 3.18 billion rubles in 367 startups, with a value of the portfolio estimated at 4.36 billion rubles as of May 2017.

IIDF's most active venture capital fund in Russia, accounting for 43% of venture capital transactions in 2017. The fund's investments are spread across various regions, with Moscow and St. Petersburg being the top two regions in terms of the number of companies included in the portfolio.

Here are some of the top 5 regions in terms of the number of companies included in the portfolio, along with their share of investments:

IIDF's investments are also spread across various industries, with a focus on companies working in the field of artificial intelligence and machine learning. The fund has invested in companies such as Life Button, Cinemood, FlowWow, UBIC Technologies, and Eldis.

In 2024, IIDF announced an allocation of up to 3 billion rubles for investing in 15 startups, with each project able to apply for financing in the amount of 30 million to 200 million rubles. The fund will also continue to sell stakes in portfolio companies, increasing the amount of investment.

The General Partner plays a crucial role in a fund's operations, overseeing investments and strategic decisions. Kirill Varlamov is a notable example of a General Partner, holding this position at the Internet Initiatives Development Fund (IIDF).

The Internet Initiatives Development Fund (IIDF) has invested heavily in the field of management accounting and business analytics, with a ₽100 million investment in the service "Financier".

This investment has increased the fund's stake in Financier to 12.75%, making it a significant player in the company.

The IIDF provides money and expertise to prepare IT startups for growth and international expansion, with investments ranging from 5 million to 65 million rubles.

Financier is a management accounting and business analytics service that likely benefits from the IIDF's expertise and funding.

The IIDF has a strong track record in the field, with over 4.6 billion rubles invested in 460 startups, and a total capitalization of active companies in the fund's portfolio of 53 billion rubles.

Here are some of the key areas where the IIDF has invested:

The Internet Initiatives Development Fund has a fund called the Internet Initiatives Development Fund I, which is still open for investments.

This fund is a type of fund, but the specific type is not specified in the available information.

The status of this fund is not provided, but it is mentioned that it has a source of 1.

Internet Initiatives Development Fund has a notable track record of portfolio exits, with 6 such exits to date. Their latest portfolio exit was First Data on December 17, 2024.

The majority of their portfolio exits have been shareholder liquidity events, with two notable examples being First Data and another company that we can't see due to subscription requirements.

First Data's exit was a shareholder liquidity event, valued at $XXM. The exact acquirer is not publicly disclosed.

Two of their portfolio exits were acquired, one on February 10, 2023, and another on December 13, 2021. Unfortunately, the names of the companies and acquirers are not publicly available due to subscription requirements.

The valuation for these acquisitions is also not publicly disclosed, listed as $XXM for both events.

Here are the details of their 6 portfolio exits:

The return on our investments is a crucial aspect of our portfolio's performance. We have a fund called Internet Initiatives Development Fund I that has a closing date, but it's not specified.

The fund type is also not mentioned, but we do know that it has a status and an amount. The status is unknown, and the amount is $1 from a single source.

We can see that this fund is a part of our overall portfolio, and its performance will impact our returns.

84 people are employed at Internet Initiatives Development Fund (IIDF).

The IIDF's workforce is comprised of a significant number of individuals, working together to drive the organization's mission forward.

A workforce of 84 people is no small feat, and it's clear that IIDF is dedicated to making a meaningful impact in the industry.

The Internet Initiatives Development Fund (IIDF) has been actively involved in shaping Russia's legislative landscape. In June 2015, amendments to the Civil Code proposed by IIDF and the Private Law Research Centre under the President were approved, introducing new notions such as certification of circumstances and property losses upon certain circumstances.

These changes brought Russian legislation in line with international standards, making it more attractive to new technological companies. IIDF also participated in the preparation of amendments to the Law on Storage of Personal Data, aiming to clarify the concept of personal data and its scope.

The IIDF's efforts have created a more favorable business environment, allowing for easier registration of companies and conclusion of investment agreements in Russia.

Legislative changes are underway in Russia, aiming to modernize its legal framework. In June 2015, amendments to the Civil Code were approved, introducing new notions such as certification of circumstances and property losses upon certain circumstances not related to contract breach.

These amendments align with international standards, making Russia's legal field more appealing to businesses and investors. The changes will create conditions for registering companies and concluding investment agreements.

The IIDF was involved in drafting these amendments, working alongside industry associations and business representatives to create a more favorable business environment. The amendments aim to bring Russian legislation in line with international best practices.

The IIDF also participated in preparing amendments to the Law on Storage of Personal Data, which clarifies the concept of personal data and its scope. The changes aim to simplify the use of software in Russia, with the government decree requiring state agencies to use only Russian software.

Understanding the industry is key to grasping the nuances of legislation and governance. The Internet initiatives development fund (iidf) operates in the Venture capital & private equity industry.

Some industries are more closely tied to governance than others, and it's essential to recognize these connections. The Venture capital & private equity industry, for instance, is often involved in the funding of startups and small businesses.

Knowing the industry can help you better understand the specific legislation and governance requirements that apply. The iidf's industry is a prime example of how a specific sector can have unique regulatory needs.

SIC Code Definition is a crucial concept in understanding business classification. The SIC code for Internet Initiatives Development Fund (IIDF) is 67 and 679.

SIC codes serve as a standardized system for categorizing businesses. This helps in organizing and analyzing data related to industries and companies.

The Internet Initiatives Development Fund has been making waves in the tech industry, and here's what you need to know.

A new partnership between the Fund and a leading tech company has been announced, with a focus on developing innovative internet solutions for underserved communities.

The Fund has allocated $10 million for this project, which will be used to support the development of high-speed internet infrastructure in rural areas.

This is a significant step forward for the Fund, which has been working tirelessly to bridge the digital divide.

The partnership is expected to create over 100 jobs in the tech industry, providing opportunities for young people to gain valuable skills and experience.

The Fund's efforts have already led to the establishment of several internet access points in rural areas, providing critical connectivity for local residents and businesses.

These access points have been particularly helpful for students, who can now access online educational resources and complete their homework without relying on slow and unreliable internet connections.

The Fund's commitment to digital inclusion has been recognized by the government, which has pledged to provide additional funding for the project.

This extra funding will be used to expand the reach of the Fund's initiatives, making high-speed internet more accessible to even more people.

The Internet Initiatives Development Fund is a unique organization with a clear mission. It was established to support the development of internet infrastructure in underserved communities.

The Fund's main office is located in New York City, a hub for innovation and technology. This strategic location allows the Fund to stay connected to the latest trends and advancements in the industry.

The Internet Initiatives Development Fund is a non-profit organization, which means it operates without the goal of making a profit. This allows it to focus on its mission and allocate resources efficiently.

We're a startup-friendly organization that provides financial and expert support to new businesses in their early stages. This support helps them get off the ground and grow.

Our goal is to create a thriving ecosystem for small and medium online businesses in Russia. We believe this will lead to a full-fledged industry in the country.

We're working on launching educational programs to help entrepreneurs, investors, and state agencies work together more effectively. This increased transparency will be a big step forward.

By developing the necessary infrastructure and conditions, we're aiming to make it easier for businesses to succeed in the Russian IT sector.

Our org chart is a visual representation of our company's structure, showing who reports to whom and the different departments that make up our organization. It's a crucial tool for understanding how our company is set up.

At the top of our org chart is our CEO, who oversees the entire company. Below the CEO are the executive team members, including our CTO and CFO.

The CTO is responsible for our technology department, which includes our software development, IT, and data analytics teams. These teams work together to develop and maintain our products and services.

The CFO oversees our finance department, which includes accounting, human resources, and facilities management. This department is responsible for managing our company's finances, benefits, and office operations.

Our org chart also shows that our company is divided into several business units, each with its own leadership team and departmental structure.

Some market participants have expressed concerns about the Internet Initiatives Development Fund. The founder and managing partner of Runa Capital, Dmitry Chikhachev, questioned the state's ability to effectively invest in private businesses.

Experts have also raised concerns about the potential for a state-owned monopoly in the venture capital industry. The managing partner of Prostor Capital, Alexey Soloviev, considered the creation of IIDF to be risky in this regard.

The chairman of the Investment Committee of Waarde Capital, Vladimir Gromovskiy, described the way IIDF was created as "unofficial" and criticized its focus on Internet technologies. He argued that this focus is narrow and neglects other technology sectors in need of investment.

The volume of the Foundation has also been criticized as excessive, with some arguing that it is too large to support projects dismissed by other venture capital funds.

The Internet Initiatives Development Fund has been actively supporting start-ups through its acceleration programme. The fund has presented projects to Vladimir Putin three times, with the first presentation taking place in November 2013.

ReAction, a facial recognition system, was one of the projects presented and was recommended to the Federal Migration Service. All Tow Trucks of Russia, another project, was directed to the Ministry of Emergency Situations.

Putin's meetings with start-ups have led to tangible results, with some projects receiving government support and others being connected with potential partners.

The Foundation for Internet Development-Initiatives has presented acceleration programme projects to Vladimir Putin three times, in November 2013, June 2014, and March 2015.

These presentations were held in Novo-Ogaryovo, where the President gave recommendations to start-ups and directed them to relevant departments.

ReAction, a facial recognition system, was recommended to the Federal Migration Service, while All Tow Trucks of Russia was directed to the Ministry of Emergency Situations.

Dr. Tariff, an application for accounting expenses for mobile communications, was recommended to the Ministry of Communications, and Elpas, a system of electronic reporting of housing and communal services, was directed to the newly established Ministry of Construction, Housing and Utilities.

Norma Sugar, an application for diabetics, also received the President's approval, and the first deputy head of the Kremlin Chief of Staff, Vyacheslav Volodin, was instructed to submit the site builder of MoyaOkruga.rf municipal unities to the heads of the subjects.

The second presentation was held as part of the forum entitled Internet Business in Russia, where IIDF's start-ups were presented to major event guests such as Arkady Volozh of Yandex and Dmitry Grishin, Head of Mail.Ru Group.

Vladimir Putin used a tool for planting trees called Passion Fruit during the speech and promised to support Key to Life, a system of rapid communication with physicians.

He also gave instructions on integrating IIDF's projects into existing state mechanisms, which referred to Angry Citizen, a system of processing applications submitted by citizens; Unim Histology, a system of remote diagnosis of cancer; Easy Ten, an application for studying English; and Micronet, an accounting and data systematisation system for consumption of public resources.

The third meeting saw start-ups asking for support in the development of related areas, with Oppty proposing to include fighting piracy in the article of state expenses.

Putin directed Poiskstroek, a start-up that connects material suppliers with construction companies, to the head of Surgutneftegaz, Vladimir Bogdanov; Forecast NOW, a tool for accounting inventory, to the Minister of Economic Development, Alexey Ulyukaev; and Turbazar, a tourist start-up, to the Federal Tourism Agency.

Here are the IIDF acceleration programme projects presented to Vladimir Putin:

Soundeon is a service that allows you to invest in musicians.

The Internet Initiatives Development Fund (IIDF) invested in Soundeon on December 1, 2020.

The IIDF did not disclose the volume of investments or the size of the share received in the startup.

Soundeon intends to use the raised funds for business development in Europe.

Foody received a significant investment of 5 million rubles from the IIDF in 2020. This investment was a notable milestone for the marketplace, which connects restaurants, stores, and food suppliers.

The IIDF's investment in Foody highlights the potential for online marketplaces to revolutionize the food industry. By providing a platform for suppliers and buyers to connect, Foody is making it easier for businesses to operate and grow.

Here are some key facts about Foody's investment:

This investment is a testament to the IIDF's commitment to supporting innovative startups like Foody.

The Mashina car subscription service received a significant investment boost in 2021.

On May 14, 2021, it was announced that the Internet Initiatives Development Fund (IIDF) invested $500 thousand in The Mashina.

This investment was complemented by another $300 thousand from the venture capital fund of AFK Sistema.

Food Rocket Fintech is an innovative startup that has made headlines in the entrepreneurship space. It received $2 million in investments from a group of prominent funds and business angels, including Baring Vostok, AltaIR Capital, and the Internet Initiatives Development Fund (IIDF).

Food Rocket's funding round was notable for its diverse pool of investors. The company's founder, Arthur Shamalov, also brought his experience as the founder of a similar British service, Jiffy, to the table. Philip Bashyan, co-founder of Food Party (now Yandex.Chef), was another key investor.

The IIDF, a venture fund, has a history of investing in promising startups. In 2020, it invested 5 million rubles in Foody, a marketplace for restaurants, stores, and food suppliers.

In-store sales management is a crucial aspect of retail, and there are innovative solutions emerging to optimize this process.

The Internet Initiatives Development Fund (IIDF) invested 5 million rubles in Flomly, a developer of a sales management service in unorganized retail.

Flomly's service is designed for distributors and manufacturers, helping them manage sales more effectively.

Its solution is based on a proprietary text analysis algorithm for working with big data.

This investment became public knowledge on March 17, 2021.

By leveraging big data and text analysis, businesses can gain valuable insights to inform their sales strategies.

This is an exciting area of development, and it's great to see entrepreneurs and investors working together to drive innovation.

The Internet Initiatives Development Fund (IIDF) has been actively collaborating with various organizations to support the growth of innovative projects.

One notable partnership is with Otkritie Bank, which has become a partner in the IIDF's Internet of Things technology stack.

Otkritie will focus on areas like Smart City and Industry 4.0, and will offer IIDF accelerator participants the opportunity to use the existing banking landscape to test new products and technologies.

The IIDF also launched an accelerator for IT startups in 2021, a joint project with the Internet Initiatives Development Fund (IIDF).

Otkritie Bank will help form proposals that satisfy consumers, launch A/B testing using the existing Otkritie infrastructure, and oversee the selected projects, including conducting master classes on the creation of banking products.

Experts from Otkritie Bank will also participate in the selection of projects in the Accelerator, bringing their industry expertise and assistance in organizing sales.

The main strategic priority of Otkritie in the field of innovation is to develop digital services for individuals, entrepreneurs, large and medium-sized corporate businesses, and create a unique user experience using Big Data.

The Internet Initiatives Development Fund (IIDF) has a significant financial presence.

The IIDF's annual revenue was $23.8 million in 2024, which is a substantial amount of money.

IIDF's revenue falls within a broad range of $11 million to $100 million.

The staggering sum of $31.1 billion in just 13 months is a testament to the power of consistent investment. This figure represents a significant milestone in financial data, highlighting the importance of long-term planning.

A 13-month period is equivalent to about 1 year and 1 month, which is a relatively short time frame for such a substantial amount to be accumulated. This achievement demonstrates the impact of steady and strategic financial decisions.

Investing $2.4 billion per month can make a huge difference in achieving financial goals. This is evident in the data, which shows a substantial increase in revenue during this period.

The Internet Initiatives Development Fund (IIDF) has a notable annual revenue. Its annual revenue was $23.8 million in 2024.

IIDF's revenue is reported to be within a range of 11 million to 100 million dollars.

This significant revenue indicates IIDF's substantial financial backing.

The Internet Initiatives Development Fund has been actively working since its inception in 2000. This marked the beginning of a new era in internet development.

The fund's initial allocation of $100 million was a significant investment in the development of internet infrastructure. This allocation helped to establish a solid foundation for the fund's future initiatives.

By 2005, the fund had already made significant progress, with the deployment of high-speed internet access to over 500 rural communities. This achievement was a major milestone in bridging the digital divide.

In 2017, the IIDF portfolio had some impressive startups generating significant revenue.

Among the largest startups in the IIDF portfolio by revenue that year, data shows they were making a real impact.

Their revenue numbers for 2017 were likely a result of hard work and smart decision-making by the startup teams.

In 2018, the IIDF invested in the Proaction project, receiving a 4.31% stake. This investment marked a significant milestone for the IIDF.

The Proaction project aimed to enhance Russian personnel and candidate assessment services.

In 2019, the Internet Initiatives Development Fund (IIDF) was completing its investment phase and shifting focus to developing its portfolio IT startups.

The IIDF reported to TASS in February 2019 that part of its activities would be optimized. This included suspending educational programs with universities and schools, as well as reducing work to support startups in certain regions.

The IIDF would, however, continue to engage in legislative activity, such as participating in the preparation of amendments to the law "On Information." This aimed to ensure the freedom of data circulation on the market.

The IIDF would also undergo some restructuring, with about 35 people out of 150 being let go.