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I.T. Group and FRII will support start-ups jointly

24.10.2013

I.T. Group and FRII will support start-ups jointly
The I.T. Group and The Internet Initiatives Development Fund (FRII) signed a Memorandum of Understanding for the expansion of programs to support young entrepreneurs in the IT sector. Thus the parties documentary recorded their intentions and possible initiatives for the development and establishment of the domestic information technology market by working with start-ups.

The main purpose of the signing of a memorandum of understanding (MoU) is to prepare a plan of joint activities aimed at the development of programs to support young entrepreneurs in the IT sector, who create or already have created start-up projects in the regions of the Russian Federation. 

In particular, I.T. Group is now planning to form the community of young entrepreneurs who have already started or have the desire to run their own start-ups in the IT sector in the Republic of Bashkortostan (in the future, perhaps in other regions of the Russian Federation as well). Such a community will include elements of the accelerator, incubator and educational program. The company is going to perform its activities in this direction in close collaboration with the Internet Initiatives Development Fund (FRII), which has extensive experience in this field. In addition, I.T. Group is ready to take part in the activities of the Fund relating to the selection of projects, as well as their maintenance and development.

"Together with the I.T. Group we set ourselves ambitious goals. This is support and investment in projects at early and risky stages, provided that currently almost nobody does this in Russia. This will not only allow the maximum number of young entrepreneurs who live in different regions of our country, to realize themselves on the Internet, but also will greatly enhance the quality and attractiveness of investment projects", Dmitry Kalaev, director of educational programs of FRII said.
"We are very pleased to follow the evolution of the FRII and the "ecosystem" of support for innovative projects, which it forms. I.T. Group is willing to take a very active part in this activity, to give its full support. We believe that the information technology and young businesses built in this field in Russia will play a major role in the development of the country", Dmitry Torshin, chief investment officer of the I.T. Group added. 


About FRII 
The Internet Initiatives Development Fund (FRII) was established by the Agency for Strategic Initiatives in March of 2013. Priority tasks for FRII are financial and expert support of projects on the Internet at all stages of development, the search and selection of start-ups and their subsequent bringing to a high degree of maturity. The volume of assets under management of FRII is 6 billion rubles. 
FRII mission is that we want to make the Russian market understandable and accessible to any entrepreneur who wants to start or expand his business on the Internet. See more details at   

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